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 Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
By Adedapo Adesanya
The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, July 17, by N1.35 or 0.07 per cent to N1,380.18/$1 from N1,381.53/$1.
It also improved its value against the Pound Sterling in the same market segment during the session by N11.75 to trade at N1,854.42/£1 compared with the previous day’s N1,866.17/£1, and gained N5.69 against the Euro to sell at N1,576.99/€1 versus Thursday’s closing price of N1,582.68/€1.
In the same vein, the Naira chalked up N1 against the United States currency yesterday at the GTBank forex desk to quote at N1,388/$1, in contrast to the preceding day’s N1,389/$1, but closed flat at the black market at N1,405/$1.
The appreciation of the Nigerian currency on Friday came amid fresh signals that Nigeria is building its external reserves for protection against shocks and excessive currency volatility.
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said the country’s gross reserves had risen above approximately $52 billion by 15 July, while net reserves had increased from about $3 billion when the current CBN leadership took office to more than $40 billion.
Mr Cardoso linked the increase in reserves to reforms that had restored greater confidence in the foreign exchange system. He also pointed to efforts to diversify foreign currency inflows, including policies designed to increase remittances through official channels.
He noted that monthly diaspora remittances had risen above $600 million and the CBN expected them to reach approximately $1 billion by the end of 2026. The target is part of a broader effort to grow reserves through recurring inflows rather than temporary measures.
The improvement, he argued, had strengthened Nigeria’s capacity to respond when unexpected events threatened market stability.
The apex bank has also launched a new digital platform that will track every foreign exchange transaction involving Bureau De Change (BDC) operators, marking a major step in its efforts to improve transparency and strengthen oversight of Nigeria’s retail forex market.
As for the crypto market, prices were up as markets overlooked geopolitical developments and macro forces weighing on the whole market ecosystem rather than anything crypto-specific, with Cardano (ADA) up by 4.6 per cent to $0.1661.
Bitcoin (BTC) jumped by 1.8 per cent to $63,968.32, Ethereum (ETH) improved by 0.9 per cent to $1,843.88, Dogecoin (DOGE) also rose by 0.9 per cent to $0.0723, Solana (SOL) soared by 0.6 per cent to $74.90, Ripple (XRP) also appreciated by 0.6 per cent to $1.08, and Binance Coin (BNB) advanced by 0.1 per cent to $567.32.
However, TRON (TRX) depreciated by 0.2 per cent to close at $0.3218, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
