The celebration, which took position at the Eko Lodges, Victoria Island, Lagos, was an assemblage of key marketplace stakeholders with the central objective to analyse the current point out of the sector, system the concerns, and chart new pathways to a much more productive and sustainable regulatory routine for the stability and progress of the Nigerian telecom business.
Speaking at the party, Prof. Umar Danbatta, government vice chairman and main executive officer of the NCC, said that the topic of the Summit: “The Upcoming of Telecom Regulation in Nigeria,” introduced a exceptional prospect for the Fee to interact with essential stakeholders.
As a result of this kind of interaction, the EVC explained the Commission would be capable to brainstorm and migrate to new frontiers of visionary regulations that will galvanise and foster sought after expansion in the sector.
Danbatta stated that the outbreak of the COVID-19 pandemic activated political and socio-economic uncertainties globally and underscored the critical role of electronic connectivity in holding societies operating, as the on line daily life grew to become, effectively, new way of life.
He mentioned that with the improved dependence on digital platforms, the topic of the celebration experienced become vital in purchase to put in position a broader regulatory framework that will boost and protect the integrity of the industry in the emergent electronic economic system.
In this context, the EVC explained the NCC will go on to diligently pursue the implementation of policy frameworks these types of as Nigeria National Broadband Program (NNBP) 2020-2025 and the Nationwide Electronic Economic system Coverage and System (NDEPS) 2020-2030 which are consistent with NCC’s regulatory interventions these as the Commission’s Strategic Administration System (SMP), 2020-2024 and Strategic Vision Prepare (SVP), 2021-2025, between many others.
Danbatta stated all the coverage and regulatory frameworks principally look for to provide a system for Nigerian citizens to interact in modern developments for the telecoms sector and boost the nation’s potential to contend in the at any time-aggressive world-wide space.
Outlining further more on the transformation going on as a end result of the increasing spectrum of electronic ecosystem, Danbatta claimed the market is witnessing new business supply and breakthroughs thanks to the expansion of boundaries of electronic Compact and Medium Enterprises (SMEs), primarily fintech and e-commerce corporations. The EVC mentioned those consequential ecosystem have contributed to the progress of the Nigerian electronic financial system driving on telecom infrastructure.
Danbatta aptly reckoned that electronic services and contents offered by these SMEs will leverage on broadband infrastructure and the impending deployment of Fifth Technology (5G) network becoming pushed by the Commission to provide much more innovative and substantial-high quality experiences to customers.
“The Commission’s effective auction and licensing of the 3.5GHz spectrum licences in the previous quarter of 2021 for the deployment of 5G technological know-how is set to creat quite a few opportunities for the enhancement of the industry and as a regulator, we are conversant with the actuality that a dynamic regulatory ecosystem is required to sustain this business growth”, Danbatta reported.
“Therefore, it has develop into imperative for us, as essential stakeholders, to appraise the progress produced so far as an field and chart the program for the future of the telecoms market in the nation,” he stated. The EVC also informed that a single of the sectors that experienced been positively impacted by the electronic transformation is the money services sector.
Amplifiying the EVC’s position, in his keynote deal with titled: “The Future of Telecom Regulation in Nigeria: Problems of Accessibility to Funding”, Dr. Ademola Sogunle, main government officer of Stanbic IBTC, asserted that the telecommunications industry had develop into the sustaining stimulus of the put up-pandemic era as consumers’ behaviours proceed to change toward electronic traits. Danbatta reported that the contribution of the telecom sector continues to benefit the overall ecosystem.
Though examining resolutions of the to start with edition of the Summit held in 2019, the Director, Plan, Competitors and Financial Investigation, NCC, Yetunde Akinloye, claimed the Commission had carried out the tips of that assembly amongst which were being Executive Order on Duplicity of Taxes and Levies, and Harmonization of Ideal of Way (ROW) fees.
She mentioned other recommendations carried out involve addressing of interconnect financial debt, evaluate of the framework on interconnect clearing houses to be certain 10 for each cent of targeted traffic is routed by means of clearing properties, incentive for small operators as perfectly as checking compliance with Code of Corporate Governance.
To sustain the momentum from the preceding market leadership engagement, this year’s Summit delivered the Main Executives of corporations in the telecom sector an chance to fulfill the EVC and top rated Management of the Commission at a roundtable for deeper contemplating and higher reflection on the difficulties in the sector and proffer meaningful answers.