Economy
NCC Plans Fresh Guidelines for Telecoms Sector
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has stated that the telecoms sector should expect fresh guidelines and regulations on indigenous content, among others.
The Executive Vice-Chairman/Chief Executive Officer of the agency, Mr Umar Garba Danbatta, made this disclosure while speaking at the maiden edition of the Policy Implementation Assisted Forum (Piafo-001) on the National Policy for Promotion of Indigenous Content in the Nigerian telecommunications sector last Friday.
Mr Dambatta said “with the constitution of the NODITS, the industry should expect new guidelines and regulations bothering on indigenous content, local manufacturing of telecom equipment, outsourcing of services, construction and lease of telecoms ducts, succession planning in the telecoms sector, corporate governance, corporate social responsibility, as the need arises.”
The NCC boss explained that the Commission has already put in place “a standing licensing review committee” which is currently analysing all its licenses in an effort not only of modernizing them to reflect the current realities of technology and development, but also to consolidate, bundle or unbundle individual licenses or even create new licenses.
“In brief, the NITDA guidelines set out to introduce content requirements for all companies operating in the Nigerian ICT industry and to achieve a target of 50% local content in the industry.
“All ICT companies were also required to be registered under Nigerian entities with predominant Nigerian representation.
“The guideline is not restrictive but is aimed at encouraging local value creation for ICT companies.
“Focus areas of the guidelines include driving indigenous innovation, developing the local ICT industry and establishing intellectual property regulation and standards protection,” he stated.
Mr Danbatta said that due to the opportunities and challenges presented by the search for a balance for the regulator, there was a pressing need to find a middle ground between optimizing indigenous participation in ICT and maximizing the benefits of a globalized ICT ecosystem.
“For us in the commission, we agree with the notion that such a balance is achievable through purpose-driven policies that create an enabling environment towards local innovation, local participation, local job creation, local investment and local ownership.
“Collaboration with National Information Technology Development Agency (NITDA), a key mandate of the Commission under the NPPIC is periodic benchmarking with NITDA, our sister agency.
“In that regard, it is gratifying to note that sometime in 2013, NITDA introduced Guidelines on Nigerian Content Development for the ICT sector,” he stated.
Mr Danbatta also assured Nigerians of the commission’s commitment to realise the vision of President Muhammadu Buhari for promoting indigenous content in the telecommunications sector as has been done in the agricultural and petroleum sectors to achieve our goals of significant participation, preservation of scarce foreign exchange and improving the lives of Nigerians.
“To ensure effective implementation of these objectives, we are developing a robust compliance monitoring and enforcement framework leveraging on existing mechanisms.
“We are spurred by the President’s words ‘we want Nigerians to play a major role in the design and manufacture of devices, in meeting the manpower requirements and in becoming an active part of the telecommunications ecosystem of the country’.
“With advancements in technology, administrations have come to recognize the need for their indigenes to participate actively in exploitation and transformation of their resources into goods and services aimed at economic growth.
“Indigenous Content Policy is, therefore, any policy that encourages the development of indigenous skills, technology transfer, use of indigenous manpower and indigenous manufacturing.
“As we are all aware, the Federal Government has put in place very robust policy and legal framework for local content within the oil and gas sector. Similarly, the advent of local content in the Nigerian Telecoms sector is probably as old as the Nigerian telecoms revolution itself.
“The national telecommunications policy posited that the domestic production of telecommunications hardware and software is desirable for national development.
“It further states that the government shall encourage domestic production of telecommunications equipment, components and software to meet local and export demands.
“In giving legal backing to the above policy direction, the Nigerian Communications Act, 2003 identifies, as one of its National Telecom Policy 2000 primary objects, the encouragement of local and foreign investments in the Nigerian communications industry,” Mr Danbatta said.
According to him, with the steady evolution of telecommunications in Nigeria, the industry and its infrastructure are appreciated as the infrastructure of infrastructures, positioned to drive growth and efficiency in every other sector (both private and public) by supporting the optimization of institutions and processes in the ecosystem.
“Accordingly, the development of effective local participation at all levels of the value chain becomes a sine-qua-non to the overarching national economic development and market success,” he added.
By Adedapo Adesanya
The National Insurance Commission has issued new guidelines for the collection, management, and administration of the Insurance Policyholders’ Protection Fund.
In a circular issued to all insurance institutions on Tuesday, the regulator also set May 31, 2026, as the deadline for insurers to submit their assessment returns for the 2025 financial year.
Recall that on August 5, 2025, President Bola Tinubu signed into law the Nigerian Insurance Industry Reform Act ( NIIRA 2025).
This landmark legislation repeals the Insurance Act 2003, and consolidates related provisions, ushering in a modern regulatory framework. It lays a strong foundation for sustainable growth and increased investment in the country’s insurance sector.
The commission said the guidelines were issued in exercise of its powers under the 2025 Act and other existing insurance laws and regulations to provide regulatory clarity, improve guidance, and ensure ease of compliance across the industry.
According to NAICOM, the guidelines establish a comprehensive structure for the operation of the IPPF, which serves as a statutory safety net to protect insurance policyholders in the event of distress or insolvency of a licensed insurer or reinsurer. The framework also provides direction on the reimbursement of loans by insurers and reinsurers.
NAICOM stated, “The guidelines ensure regulatory clarity, guidance and ease of compliance, as it provides a comprehensive regulatory framework for the collection, management, and administration of the Fund, which serves as a statutory safety net designed to protect insurance policyholders against distress and insolvency of a licensed insurer or reinsurer, including guidance for the reimbursement of loans by an insurer or reinsurer.
“Please be informed that the IPPF Assessment Returns in respect of the year 2025 shall be submitted to the Commission not later than 31st May 2026, while subsequent submissions shall be in line with Section 4.3 of the Guideline on Insurance Policyholders Protection Fund.”
By Adedapo Adesanya
The Dangote Refinery on Wednesday returned the petrol price to N1,200 per litre, less than 24 hours after it increased it by 5 per cent.
The private refinery had raised the ex-depot price by N75 on Tuesday, citing pressure from volatile global oil markets, but quickly brought it back to N1,200 per litre from N1,275 per litre.
The swift downward review is directly linked to a sharp drop in international crude prices. Brent crude has plunged to $95.05 per barrel, after a 13 per cent decline, while the US West Texas Intermediate (WTI) crude closed at $97.18, recording nearly a 14 per cent drop.
This development comes after US President Donald Trump announced a conditional two-week ceasefire with Iran, which eased fears of immediate supply disruptions in the global oil market.
“This will be a double-sided CEASEFIRE!” Trump said on social media, marking a sharp reversal from his earlier warning that “a whole civilisation will die tonight” if Iran failed to comply with US demands.
Iran’s Foreign Minister, Mr Abbas Araqchi, confirmed that the country would halt attacks provided strikes against Iran cease and transit through the Strait of Hormuz is coordinated by Iranian forces.
Despite the breakthrough, tensions remain elevated across the region, with several Gulf states reporting missile launches, drone activity, or issuing civil defence warnings.
While oil prices have fallen back below $100, they remain significantly elevated after surging by a record amount in March. Market analysts noted that regardless of how successful the ceasefire is, geopolitical risk related to the Strait of Hormuz is likely to remain elevated for the foreseeable future under the control of Iran.
By Adedapo Adesanya
Crude oil deliveries from the Nigerian National Petroleum Company (NNPC) Limited to the Dangote Petroleum Refinery doubled in March, boosting prospects for improved fuel availability.
This was revealed by the chief executive of Dangote Industries Limited, Mr Aliko Dangote, on Tuesday, when he received the Deputy Secretary-General of the United Nations, Mrs Amina Mohammed, at the industrial complex in Ibeju-Lekki, Lagos.
While speaking on feedstock supply, Mr Dangote commended the NNPC for increasing crude deliveries to the refinery in March, noting that volumes rose to 10 cargoes—six supplied in Naira and four in Dollars—to support domestic fuel availability, according to a statement by the Refinery.
“Last month, they gave us six cargoes for Naira and four cargoes for Dollars,” he said.
Despite the improvement, Mr Dangote noted that the supply remains below the 19 cargoes required for optimal operations, with the refinery continuing to bridge the gap through imports from the United States and other African producers.
He also expressed concern over the unwillingness of international oil companies operating in Nigeria to sell to the refinery, stating that their preference for selling crude to traders forces it to repurchase at higher costs, with broader implications for the economy.
Mr Dangote added that the refinery is seeking increased access to domestically priced crude under local currency arrangements as part of efforts to moderate fuel costs and enhance long-term energy and food security across the continent.
On her part, Mrs Mohammed underscored the strategic importance of Dangote Industries Limited -particularly Dangote Fertiliser Limited—in addressing Africa’s mounting food security challenges, while calling for stronger global partnerships to scale its impact.
Mrs Mohammed said the United Nations would prioritise amplifying scalable solutions capable of mitigating the continent’s food crisis, describing Dangote’s integrated industrial model as a critical pathway.
“I think the UN’s job here is to amplify and to put visibility on the possibilities of mitigating a food security crisis, and this is one of them,” she said. “I hope that when we go back, we can continue to engage partners and countries that should collaborate with Dangote Industries.”
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