Nigeria Ready to Adopt Global Best Practices in Telecom Sector — Tinubu

On Thursday in Abuja, President Bola Tinubu announced that Nigeria is prepared to review its telecoms sector’s regulatory framework and operations to align with global best practices, with a specific focus on protecting critical infrastructure.

During a meeting with an Airtel delegation led by chairman Sunil Bharti Mittal at the State House, Abuja, President Tinubu expressed gratitude for the openness and confidence shown by the company, which had brought Nigeria closer to its goal of building stronger international business ties.

The President emphasized Nigeria’s readiness to learn from successful models, particularly pointing to India’s telecom sector as an example. “The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes,” he said. He reiterated his pro-business stance, assuring that the government would focus on reforms that stimulate growth and foster opportunities.

Tinubu also acknowledged the importance of tax reforms in creating a more favorable climate for investors. “We will work with tax administrators to ensure that we encourage growth and opportunities,” he added.

Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, expressed his appreciation for the President’s consistent support for the telecom sector’s development. Tijani highlighted the President’s approval of the protection of fibre optic and undersea cables as critical national assets, which he believes will further enhance growth in the industry. He also noted that the Office of the National Security Adviser (NSA) has already started implementing and enforcing the law to protect these assets.

Sunil Bharti Mittal, Chairman of Airtel, praised President Tinubu for his bold economic reforms, particularly in transforming the Nigerian economy for future growth. He compared Nigeria’s current situation to India’s economic situation in 1991 when the country faced significant financial challenges. Mittal recalled how India overcame similar difficulties by implementing reforms that led to remarkable progress, turning India into one of the world’s largest economies.

Mittal praised Tinubu’s reform efforts, including the decision to float the naira, which he described as a significant achievement despite the initial challenges. He commended the removal of the petrol subsidy, acknowledging that while the decision was tough and unpopular, it was necessary for long-term economic stability.

He further encouraged Nigerians, particularly those with significant financial resources abroad, to invest more in the country, citing the calm that many businesspeople in Nigeria are now experiencing, which will likely lead to increased investment and growth in the near future.

Mittal concluded by noting that the reforms in Nigeria would pave the way for a transformative period in the country’s history, and he expressed optimism about the future of Nigeria’s economic development under President Tinubu’s leadership.