NCC Plans Fresh Guidelines for Telecoms Sector

Image

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.

Share
Related Stories
Image
07-December-2023

Dangote Refinery to Commence Operations, Gets First Crude Batch

By Adedapo Adesanya Dangote Refinery is set to commence crude refining in the coming days as an OTIS Tanker, carrying 950,000 barrels of Agbami crude has reportedly set sail to Dangote’s offshore crude receiving terminal, Business Post has gathered. It is expected to arrive around 8 pm today, December 7, 2023. This development confirms expectations that the 650,000 barrels per day will commence operations before year-end and produce its first batch of petroleum soon after the company had initially announced that it would begin producing up to 370,000 barrels per day of diesel and jet fuel in October and gradually

Image
08-December-2023

NECA, LCCI Worry Over Exit of Multinationals from Nigeria

By Precious Olisa The Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) have expressed their disappointment over the increasing exit of multinationals from the Nigerian market. The two organisations reacted to the planned exit of Procter & Gamble (P&G) from the country over economic headwinds. P&G announced its intention to close down its manufacturing operations in Nigeria and adopt an import-only business model due to the foreign exchange (FX) crisis in the country. This is coming some weeks after GlaxoSmithKline (GSK), Sanofi, Unilever Nigeria, Equinor and others have also indicated their interest in quitting

Image
08-December-2023

Nigeria’s Crude Output Falls 30,000 Barrels Daily to 1.43mbpd in November

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

Image
08-December-2023

Nigeria’s Merchandise Trade Rises 1% to $7.8bn in August 2023

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has disclosed that the total value of the country’s merchandise trade experienced an increase of 1 per cent to $7.8 billion in August 2023 from the $7.72 billion that was quoted in July. This was disclosed by the apex bank in its latest monthly economic publication, where it disclosed that despite the rise month-on-month, Nigeria’s merchandise trade value in the period was almost 20 per cent lower compared to the value in August 2022 due to a significant decrease in import trade value. The total merchandise trade comprised an export trade

More Stories
Image
27-August-2020

CBN Sells T-Bills at Higher Rates as Investors Undersubscribe One-Year Tenor

By Dipo Olowookere Treasury bills were auctioned to investors via the primary market by the Central Bank of Nigeria (CBN) on Wednesday, August 26, 2020 and according to details of the exercise, T-bills valued at N197.6 billion were put up for sale by the central bank spread across three maturities. Business Post reports that N20.4 billion worth of 91-day bill, N31.7 billion worth of 182-day bill and N145.5 billion worth of 364-day bill were auctioned during the session, about N197.6 billion in total. However, when the subscriptions were analysed, it was observed that the demand for the debt instruments across

Image
14-August-2023

Is Forex in Nigeria Halal or Haram? Case Study

The Muslim population in Nigeria is still expanding. According to estimates, 80–85 million Nigerians (approximately 50% of the population) identify as Muslims, many of whom are probably Sunnis (60 million). Any Nigerian citizen, regardless of religion, can trade forex using Nigerian brokers as long as they are using their own money. However, every individual has to follow their own religious laws to ensure they are trading within the guidelines. In this article, we are going to try and answer the question, is forex in Nigeria Halal or Haram? Let’s jump right into it. Forex Trading According to Islam The mere

Image
11-August-2021

Hushpuppi: A Look on How Business Email Compromise Scams Work

By Rotimi Onadipe The Hushpuppi saga is a trending story that many people have shared severally on different social media platforms around the world. It had also generated a lot of controversies. However, we need to ask ourselves a very important question about this trending story. Why is it that so many victims fell for the scam? The answer is simply because the defrauded victims had little or no knowledge about the Business Email Compromise (BEC) scam which was the strategy used by Raymond Abbas aka Hushpuppi. What is a Business Email Compromise? BEC is a kind of fraud in

Image
16-February-2023

Emefiele Directs Commercial Banks to Dispense Old N200 Notes to Customers

By Modupe Gbadeyanka The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said he had directed commercial banks to begin to dispense the old N200 notes to customers. He said this on Thursday after a meeting with President Muhammadu Buhari in Abuja. According to the CBN chief, he had a meeting with executives of 15 banks in the country to discuss ways to comply with the directive of Mr Buhari this morning in his nationwide broadcast. “To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200

Image
21-September-2020

Heritage Bank Lauds Auditors for Deepening Banking Public Confidence

By Modupe Gbadeyanka Members of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) have been praised for deepening confidence of the banking public. This commendation came from the MD/CEO of Heritage Bank Plc, Mr Ifie Sekibo, during the group’s 47th quarterly meeting held over the weekend via a virtual platform. At the event themed Elevating Internal Audit’s Role in the Face of Emerging Risks and Opportunities, the bank chief said the auditors have specifically made inputs that have helped in shaping policy directions by regulators, including the fight against fraud and other financial crimes. However, he charged

Image
01-September-2017

AfDB Earmarks $24b for Africa’s Food Sufficiency Agenda

By Modupe Gbadeyanka The sum of $24 billion has been set aside by the African Development Bank (AfDB) for investment over the next 10 years to accelerate the realisation of the food sufficiency agenda. Speaking on Tuesday, the bank’s President, Mr Akinwumi Adesina, explained that the investment would be through its ‘Feed Africa Strategy’. According to him, this would require paying attention to the implementation of plans to achieve the green revolution in Africa. Mr Adesina said the AfDB was leading a campaign to unlock the continent’s food and agriculture market, projected to hit $1 trillion by 2030. Speaking in

Image
17-February-2020

Ngozi Alaegbu Joins Arise TV After Leaving TVC

By Dipo Olowookere A former newscaster with Lagos-based Television Continental (TVC), Ms Ngozi Alaegbu, has joined a rival broadcast outfit, Arise TV, also based in the metropolis. Ms Alaegbu moved to Arise TV to join her former colleague at TVC, Mr Ndee Iheanacho Amaugo, who has been with the new TV station for some years now. In 2019, the Ikorodu-based TV girl reportedly resigned from TVC after she was moved from her breakfast show with Mr Mike Okwoche to the afternoon belt and later to the night shift. Her exit from the Magodo-based media platform caused controversies as it was

Image
12-April-2023

Afriland Properties to Pay 10 Kobo Dividend as Revenue Jumps 19%

By Adedapo Adesanya Afriland Properties Plc has said its revenue grew by 19 per cent to N1.9 billion in the 2022 financial period from N1.6 billion in 2021. This is as its total assets increased by 12 per cent to N19.4 billion in the period under review from the N17.3 billion achieved in 2021, the firm said in its audited financial results for the year ended December 31, 2022. To reward its shareholders, the company has proposed to pay a dividend of 10 Kobo for the year, amounting to a total of N137.4 million. “In keeping with tradition, the real

Ad
Ad
Recent Stories
Image
09-December-2023

Moody’s Upgrades Nigeria’s Outlook to Positive After Economic Reforms

By Aduragbemi Omiyale Moody’s outlook on Nigeria has been upgraded from stable to positive after the federal government implemented a few economic reforms. In a statement on Friday, the rating agency said the decisions to remove the costly petrol subsidies, devaluation of the Naira and the unification of the foreign exchange (FX) market were good for the economy. When Mr Bola Tinubu assumed office in May 2023, he announced an end to the payment of subsidies on premium motor spirit (PMS). A month later, the Central Bank of Nigeria (CBN) announced the unification of the forex market, while the Naira

Image
09-December-2023

Value of Nigeria’s Unlisted Stock Exchange Reaches N1.2trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 1.6 per cent appreciation on Friday, December 8, as investors gained about N19.12 billion to push the valuation of the unlisted bourse to N1.202 trillion from the N1.182 trillion it closed in the preceding session. This achievement was influenced by the gains recorded by the trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc. Data showed that Aradel Holdings Plc improved its value by N30 to settle at N900.00 per unit compared with the previous day’s N870.00 per unit, FrieslandCampina Wamco Nigeria

Image
09-December-2023

Naira Crashes to N1,099.05/$1 at Official Market

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

Image
09-December-2023

Nigerian Exchange Rises 0.12% Amid Weak Investor Sentiment

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

Image
09-December-2023

Crude Prices Up 2% on US Demand Growth Expectations

By Adedapo Adesanya Crude oil prices rose more than 2 per cent on Friday after data from the world’s largest oil producer, the United States, supported expectations of demand growth. Brent crude futures settled at $75.84 a barrel after chalking up $1.79 or 2.4 per cent, as the US West Texas Intermediate (WTI) crude futures traded at $71.23 after gaining $1.89 or 2.7 per cent. Despite the gain at the final session of the week, both benchmarks fell for a seventh straight week, their longest streak of weekly declines in half a decade, on lingering oversupply concerns. For the week,

Image
08-December-2023

PZ Cussons Nigeria Publishes List of 61,628 Shareholders With Unclaimed Dividends

By Aduragbemi Omiyale One of the players in the personal healthcare and consumer goods sectors, PZ Cussons Nigeria Plc, has published a list of its shareholders with unclaimed dividends. Unclaimed dividends are cash rewards given to investors, mainly from the profits from the company’s operations, but are yet to be collected by the beneficiaries. This has been a major source of sleepless nights for the Securities and Exchange Commission (SEC), which is working to bring down the number of unclaimed dividends. It has been reported that the value of unclaimed dividends in the nation’s stock market is over N185 billion.

Image
08-December-2023

CBN Raises Alarm on Fake Naira Notes, Threatens Prosecution

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

Image
08-December-2023

Nigeria’s Crude Output Falls 30,000 Barrels Daily to 1.43mbpd in November

By Adedapo Adesanya Nigerian crude output fell by 30,000 barrels per day to 1.43 million barrels per day in November, according to data from an S&P Global Commodity Insight. This was lower than the 1.46 million barrels produced in October by Africa’s largest oil producer and 312,000 barrels per day short of its 1.742 million barrels per day target in 2023. Angola, Africa’s second-largest oil producer, saw output drop 20,000 barrels per day to 1.13 million barrels per day, according to the survey, compared with its quota of 1.46 million barrels per day. The drops impacted the wider output of

Image
08-December-2023

New Survey: Some Nigerian Bank Adverts Are Misleading—Customers

By Aduragbemi Omiyale Some aggrieved customers have accused Nigerian banks of lying about a few of their services in adverts in the media and not doing enough to assist when needed, despite using the provided platforms to lodge their complaints. In a survey conducted recently by a foremost perception consulting firm in the country, CMC Connect LLP, it was observed that some financial services consumers in Nigeria are not satisfied with what they get from their banks. The perception study carried out by the Strategy & Intelligence Service unit of CMC Connect showed that, “Consumers do not have enough information

Image
08-December-2023

Delta State Proposed Budget 2024 and Critical Concerns

By Jerome-Mario Utomi It is common knowledge that Delta State Governor, Sheriff Oborevwori, recently, presented a N714.4 billion Appropriation Bill tagged ‘Budget of Hope and Optimism,’ for the 2024 fiscal year to the state House of Assembly. What is, however, uncertain to Deltans and the watching world is whose interest the bill, if passed, is meant to serve or protect. There is also the concern as to whether it will herald into the political geography called Delta state, a just or an unjust law. As we are now, a just law is ‘a man-made code that squares with moral laws