ATCON Seeks Rural Inclusion, Investment to Drive Digital Economy

By Adedapo Adesanya

The Association of Telecommunications Companies of Nigeria (ATCON) has called for increased investment in digital infrastructure, talent development and rural connectivity to accelerate the growth of Nigeria’s digital economy.

The association said the priorities were necessary to ensure that investments in telecommunications infrastructure translated into broader economic opportunities for individuals, businesses and communities.

Executive Secretary and Chief Operating Officer of ATCON, Mr Ajibola Olude, made the call while delivering a keynote address at an industry dialogue, noting that Nigeria’s digital economy is projected to reach a $1tn valuation by 2030.

Mr Olude said the focus of the industry should move beyond connectivity to measurable outcomes that improve livelihoods and strengthen economic activity.

“Our focus must extend beyond connectivity to measurable outcomes that improve lives and strengthen our economy,” he said.

He identified talent development as a major priority, stressing the need to build a pipeline of skilled, industry-ready digital professionals capable of meeting the demands of Nigeria’s growing technology ecosystem.

Reflecting on the development of the telecommunications sector over the past 25 years, Mr Olude said significant infrastructure had been deployed, but more attention was needed to ensure that such investments created opportunities for young people.

“The future of the Nigerian digital economy depends not only on the infrastructure we build, or we have built, but also on the opportunities we create for people, businesses, and communities,” he said.

On rural connectivity, the ATCON executive said a significant number of rural communities remained without adequate access to telecommunications services.

He attributed the slow expansion of services in some areas to security concerns, rather than a lack of willingness by operators to extend their networks.

“Majority of our rural areas are still not connected, and it is not because operators are not ready to go to those places, but fear of their lives has made them remain where they are,” Mr Olude said.

He also called for an enabling environment that would allow digital businesses to emerge, expand and create employment opportunities across the country.

“There is no way to discuss Nigerian economic growth and development that will not make mention of the growth that our sector has contributed. So we need to enable digital businesses to emerge, expand, and create meaningful employment opportunities across Nigeria,” he said.

The ATCON helmsman noted that some Nigerians were already working remotely for foreign organisations, citing Lagos residents who earn income from international employers without physically leaving the country.

He said similar opportunities should be created for young Nigerians, linking productive youth engagement to efforts to address insecurity.

“I know more than 50 Lagosians who don’t even go to work. They work outside of Nigeria virtually, and we need to create a platform for our youths,” he said.

On infrastructure investment, the ATCON scribe stressed the importance of continuous investment in resilient, accessible and sustainable digital infrastructure.

He, however, expressed concern about the high cost of capital in the country, noting that interest rates on bank loans had risen above 30 per cent.

According to him, borrowing costs at such levels could constrain further investment in the telecommunications sector.

“The cost of capital today is as high as over 30 per cent. I’m talking about the interest rates. If you are taking a loan from the bank, that will definitely not support,” he said.

Mr Olude also described telecommunications as critical infrastructure underpinning other areas of the economy, calling for stronger support for investment in the sector.