Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has identified weak regulatory frameworks and multiple taxation as major obstacles limiting growth in Nigeria’s telecommunications sector.
Edun made the remarks at a Business Roundtable on Investments in Broadband Connectivity and Safeguarding Critical National Information Infrastructure, held in Abuja on Wednesday. The event was organised by the Nigerian Communications Commission (NCC) under the theme “Right of Way and Protection of Broadband Infrastructure: The Road to Success in Broadband Investment and Connectivity.”
Represented by the Director of Home Finance at the Ministry of Finance, Dr. Ali Mohammed, the minister said the government was committed to addressing these bottlenecks through stakeholder collaboration and policy reforms.
“This sector is virtually vulnerable. It is compact, and therefore we are calling on our local and international investors to come forward so that we can invest in this particular sector. Government alone cannot do it,” Edun stated.
He added that the challenges facing broadband infrastructure — particularly weak institutional frameworks and excessive taxation — required coordinated action among all stakeholders to ensure sustainable growth.
“These problems are quite many, but they are not insurmountable. There is need for stakeholders to come together and deal with these issues,” he said.
Governors Back 80% Broadband Target
Chairman of the Nigerian Governors’ Forum (NGF) and Governor of Kwara State, AbdulRahman AbdulRazaq, represented by the NGF’s Director-General, Abdulateef Shittu, reaffirmed the governors’ commitment to Nigeria’s digital transformation agenda.
“We fully support the national commitment to raise broadband penetration to 80% by 2027. Achieving this will require an additional 95,000 kilometres of fibre-optic cable across Nigeria,” he noted.
Telecom Tariff Reform Attracts $1bn Investment
Executive Vice Chairman of the NCC, Dr. Aminu Maida, disclosed that the recent approval of cost-reflective telecom tariffs had restored investor confidence and spurred new investments.
“Operators have made collective commitments to investing over $1 billion in additional rollout investments to expand broadband coverage and capacity nationwide,” Maida revealed.
National Security Adviser Urges Policy Alignment
Also speaking, the National Security Adviser (NSA), Mallam Nuhu Ribadu, represented by AVM Enebong Effiom, called on state governments to align broadband policies with national security and digital inclusion goals.
“The NGF can play a pivotal role by fostering consistency among states and aligning state policies with national broadband objectives,” he said.
The roundtable brought together key players from government, the private sector, and the security community, signalling renewed efforts to harmonise broadband policies and attract private investment into Nigeria’s fast-growing digital economy.
