Emma Okonji
The Executive Vice Chairman of the
Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has
said the 30 per cent reduction in Company Income Tax, which is a pioneer
status for prospective investors coming into Nigeria to invest, will
boost Foreign Direct Investment (FDI) in the telecoms sector.
Danbatta, who made the disclosure in
Durban, South Africa, during the 2018 ITU Telecom World conference,
where Nigeria showcased its investments potential to the world, advised
foreign investors to take advantage of the reduction and invest in the
telecoms sector.
Danbatta told investors that the 30 per
cent reduction was part of other incentives from the Nigerian government
such as the Executive Orders 5 and 6, to create enabling environment
for investors.
According to Danbatta, “There are other
opportunities for investors in Digital transmission system including
microwave, satellite and optic fibre, such as submarine cable
communications; digital exchanges for both wired and wireless lines;
billing systems; data communications networks; broadband and integrated
service digital network (ISDN).”
He said Nigeria needed 120,000km
metropolitan optic fibre coverage for ubiquitous network connections
nationwide, but that the country had only 38,000km coverage now.
This situation, he said, was an
opportunity beckoning on both foreign and local investors to take
advantage of, and invest in the country.
“Indeed, the NCC is intensely focused on
bringing efficient, qualitative and affordable ICT platforms within the
reach of individuals and corporate bodies through the implementation of
our 8-point agenda, the federal government’s Economic Recovery and
Growth Plan (ERGP) and the ICT roadmap to drive synergies, which will
expand opportunities for disruptive technology innovation and global
competitiveness,” Danbatta said.
The NCC boss listed the 8-point agenda
which NCC unveiled about two years ago to boost investment in Nigeria to
include: facilitate broadband penetration; improve quality of service,
optimise usage and benefits of spectrum; promote ICT innovation and
investment opportunities, and facilitate strategic collaboration and
partnership. Others are: to protect and empower consumers; promote fair
competition and inclusive growth; and ensure regulatory excellence.
“We have made it a deliberate policy to
ensure availability, affordability and accessibility,” Danbatta said,
while encouraging investors to invest in Nigeria.
Addressing GDP contribution by telecommunications in Nigeria, Danbatta said the emphasis was to boost broadband penetration as the next major frontier because more access to telecoms and broadband means more contribution to Gross Domestic Product (GDP).
Addressing GDP contribution by telecommunications in Nigeria, Danbatta said the emphasis was to boost broadband penetration as the next major frontier because more access to telecoms and broadband means more contribution to Gross Domestic Product (GDP).
Secretary-General of International
Telecoms Union (ITU), the United Nations specialised agency for
information and communication technologies (ICTs), Mr. Houlin Zhao, also
encouraged investors to take advantage of opportunities offered by
Nigeria, especially in the area of her huge population and untapped
investments, to invest in the country. Speaking on the issue of
security, Zhao said he had visited Nigeria and experienced the security
of the country, which he said, was encouraging enough for investors.
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