Connect with us

Business

$1trn Economy: LCCI Advocates More Investments In Telecom Infrastructure

Published

8 months ago

on

The Lagos Chamber of Commerce & Industry (LCCI) said, in a quest for a one trillion-dollar economy, the nation needs more investments in critical infrastructure to drive the much-needed digital revolution for growth and development.
Director-General of LCCI, Dr. Chinyere Almona, who stated this in Lagos, while reacting to a hike in telecoms tariff, noted that, telecom services have become a critical part of our lifestyle and business.
“However, the telcos must remain competitive to deliver the best quality of services to businesses that can leverage technology to save some costs.
“In Nigeria, the current operating environment in the telecommunications sector has become too expensive for the telcos to operate profitably. Factors such as rising energy costs, the increasing price of network equipment, inflation, and currency depreciation have placed a heavy financial burden on the operators. Telecom providers have resorted to increasing tariffs to mitigate the rising cost”, she stressed.
Almona noted that, “the recent hike in telecom tariffs has attracted mixed reactions. While this hike may offer relief for the operators, it risks placing additional strain on consumers, particularly those in lower-income brackets.
“Another factor of consideration by most stakeholders is that Nigerian citizens and businesses deserve better services from the operators and more robust regulation from the government”.
She emphasised that, “in our quest for a one trillion-dollar economy, we need more investments in critical infrastructure to drive the much-needed digital revolution for growth and development.
“A robust digital infrastructure will support innovation across all sectors of the Nigerian economy”.
Looking beyond the hike, she added that, the operators and regulators need to settle down into delivering quality services to drive operational cost efficiency for businesses and support the automation of government services, saying, “we reiterate our call for reducing human interface in the conduct of regulatory services like licensing of products, obtaining necessary permits, issuance of certifications, and port operations.
“These activities can be automated for cost-effectiveness for businesses and better efficiency on the part of the government.
“The emerging innovative landscape in food production, surveillance technology for security, citizens’ social engagement, and the exploits of artificial intelligence will all depend on a robust digital ecosystem that is comparable with advanced economies”.
LCCI DG noted that “a significant item for inclusion in the rebasing of Nigeria’s GDP is the activities in the information and communications technology (ICT) sector. This sector recorded resilient growth during the COVID-19 pandemic and has also led other sectors in the post-pandemic recovery and stability.
“This reality should then attract more government attention and funding for the digital and creative industry. Businesses look to our digital infrastructure to support their operations and cost optimisation.
“To remain competitive and continue to provide quality service, telecom operators must overcome significant challenges. Nigeria’s digital economy must be empowered to catalyse economic growth and the driver of innovation and possibilities.
“We urge continuous engagement with critical stakeholders to create a win-win scenario”.
Related Topics:
Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

2 days ago

on

September 22, 2025

By

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

2 days ago

on

September 22, 2025

By

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

2 days ago

on

September 22, 2025

By

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending