The CEO of Airtel Nigeria, Carl Cruz, has stressed how vital it is to foster a climate that is conducive to investment to maintain the telecom sector’s role in advancing digital inclusion and economic progress in Nigeria. This was said at the Telecoms Industry Townhall on Tuesday, August 13, 2024, with the topic “Two Decades After What Next for the Telecoms Industry.”
Leaders in the industry convened for a hybrid event hosted by the Financial Derivatives Company (FDC) at the Four Points Hotel in Victoria Island, Lagos, to deliberate on the prospects for Nigeria’s telecoms sector.
Together with Mr. Cruz, the other panellists were Olatunji Bello, Chief Executive Officer of Federal Competition & Consumer Protection Commission (FCCPC); Funke Opeke, Chief Executive Officer of MainOne; Karl Toriola, Chief Executive Officer of MTN Nigeria; and Kazeem Oladepo, Chief Operations Officer, HIS Towers.
Cruz spoke on the difficulties facing the telecom sector and potential solutions during the event, BrandSpur telecom and IT news reports.
He emphasised the need for an environment that would motivate investors to support the success of telecom operators. He elucidated that telecom serves as a facilitator for both economic growth and digital inclusion.
According to him: “One of the major challenges faced by the telecoms industry is the issue of security. The cases of sabotage and fiber theft every month are over a thousand. Now, capital being invested in Nigeria is being compared to capital being invested in other countries due to some of the impacts of these challenges.
“However, At Airtel, we understand that investing in infrastructure can be challenging, so we adopt a forward-looking approach as we believe that a country’s growth is significantly boosted by substantial investments. To illustrate this, I’m pleased to share that Airtel has established a digital lab here in Nigeria, serving our operations across the 13 other countries where we have a presence.”
He further emphasised once more how important it is for regulators to work together to encourage the expansion of business.
He went on to say: “Industry collaboration with regulators is also very essential for the country to progress. It is, therefore, imperative for players in the telecoms industry to engage in constant communication with our regulators, especially to address the limiting factors affecting the telecoms business. On this note, I can say that Airtel and other operators in the telecoms industry are currently doing this and are optimistic about favorable deliberations and outcomes that will boost the success of the telecoms industry.”
Views from other prominent figures in the industry regarding the telecom sector’s relationship to finance and other commercial domains like banking and aviation were also shared. Special Advisor to the President on Industry, Trade, and Investment, John Uwajumogu; Chief Executive Officer, Nigerian Exchange Group (NGX Group); and Special Advisor to the Honourable Minister of Finance, Budget, and National Planning, Armstrong Katang, are a few of the speakers scheduled to address the group.
