President Tinubu Directs Reforms to Boost Telecom Investments and Ease Business Hurdles

In a meeting with a delegation from American Tower Corporation (ATC) Nigeria at the State House in Abuja, President Bola Tinubu expressed his dissatisfaction with the bureaucratic pace in permit issuance processing for companies operating in the digital infrastructure sector.

The President emphasized the need for reforms to ease business hurdles and attract more telecom investments in Nigeria.

During the meeting, ATC Nigeria’s CEO, Marek Busfy, expressed the company’s commitment to expanding its investments in the country, which have already surpassed $2.19 billion since its commencement of Nigerian operations in 2015.

Busfy also highlighted ATC’s commitment to delivering value to subscribers while reducing greenhouse gas emissions associated with its operations.

President Tinubu commended ATC Nigeria for its significant contributions and investments in the country’s ICT sector and emphasized the importance of innovative solutions to bridge the digital divide.

The President lauded ongoing initiatives to establish broadband connectivity in all 774 local government secretariats within six months, leveraging existing infrastructure such as NIGCOMSAT and Galaxy Backbone’s fibre optic network.

To further facilitate investment expansion in telecommunications and broadband infrastructure nationwide, President Tinubu directed the Federal Ministry of Communications, Innovation, and Digital Economy; the Federal Inland Revenue Service (FIRS); and the Federal Ministry of Environment to align regulations and tax frameworks.

Addressing concerns raised by the delegation regarding the ease of doing business in Nigeria, President Tinubu assured them of his administration’s commitment to implementing reforms that will eliminate bureaucratic constraints.

In response to a request from the delegation for a reduction in withholding tax for telecommunications companies, the President said the FIRS would review the matter and provide a solution that is in the best interest of both the investors and the Nigerian people.

In his remarks, the CEO of ATC Africa reiterated the company’s readiness to invest further in Nigeria’s ICT infrastructure to meet the market’s growing demand for data, while lauding the clarity of strategy demonstrated by the administration, particularly praising the roadmap and efforts of the Honourable Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani.

The President emphasized the importance of the ongoing initiatives to promote digital connectivity across the nation, such as the 3 Million Technical Talent (3MTT) program, which aims to upskill three million Nigerian youths in digital literacy and innovation through innovation incubators nationwide.

With President Tinubu’s commitment to implementing reforms and attracting more telecom investments, Nigeria is poised to experience significant growth in its digital economy, bridging the digital divide and creating new opportunities for its vibrant youth population.