Business
$1trn Economy: LCCI Advocates More Investments In Telecom Infrastructure
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”.
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The Nigerian Maritime Administration and Safety Agency (NIMASA) has affirmed that it is taking strategic steps to enhance local participation and encourage investment in the maritime sector under the supervision of the Ministry of Marine and Blue Economy.
The Director General of NIMASA, Dr. Dayo Mobereola, who disclosed this recently while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, reaffirmed the Agency’s commitment to fostering a level playing field and creating an enabling environment for businesses in Nigeria’s maritime sector.
Dr. Mobereola revealed that NIMASA is deepening its collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) to explore policies that will boost indigenous involvement and strengthen Nigeria’s maritime sector.
“The Honourable Minister of Marine and Blue Economy is committed to encouraging indigenous players to invest more in Nigeria’s maritime industry. Issues such as national carriers and trade terms remain top priorities under this administration.
“Our focus is to create an enabling environment where private investors can thrive. In this regard, we have initiated discussions with the NCDMB and NNPC Limited to address these critical matters”, he stated.
He said NIMASA remains committed to fostering strategic partnerships that will enhance local investment, create jobs, and drive sustainable growth in the maritime sector.
In response, Comrade John Aleakhue Okpono, Secretary General of the Merchant Navy Officers and Water Transport Senior Staff Association, emphasized the need for closer collaboration between NIMASA and the Merchant Navy.
He also urged the Agency to review waiver clauses to ensure more opportunities for Nigerian seafarers.
Stories by Nkpemenyie Mcdominic, Lagos
Towards enhancing safety on Nigeria’s inland waterways, the Federal Government, through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated a Special Committee on the Prevention of Boat Mishaps in Nigeria.
According to a statement on by the spokesman, National Inland Waterways Authority (NIWA), Suleiman Makama, the event, which was held at the Ministry’s Conference Room in Abuja, confirmed crucial steps taken to address the recurring challenges of boat accidents across the country.
In his address, the Honourable Minister emphasized the urgent need to stem the tide of tragic boat mishaps, which have resulted in significant loss of lives and properties.
He described the country’s waterways as vital to commerce, transportation, and livelihoods, stressing that their safety and efficiency are paramount to the development of Nigeria’s blue economy.
He noted that the establishment of this committee aligns with the 2024 International World Maritime Day theme, “Navigating the Future: Safety First”.
“The task before us is daunting, but with unwavering commitment, we can eliminate boat mishaps and ensure that our waterways remain safe, navigable, and prosperous for generations to come”, Oyetola stated.
The committee comprises key stakeholders, including state government representatives, the Association of Boat Operators in Nigeria, marine safety experts, and academics.
It will be chaired by the Managing Director of the National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, while Mr. Adams Offie, Deputy Director of Inland Waterways at the Ministry, will serve as Secretary.
The committee is tasked with conducting an in-depth review of commercial boat operations in Nigeria, identifying the root causes of boat mishaps, and proposing sustainable solutions.
In his acceptance speech on behalf of the committee, Oyebamiji assured the Minister on the dedication of members to deliver on the assignment.
He emphasized that safety on Nigeria’s inland waterways is non-negotiable, adding that NIWA, under the leadership of the Honourable Minister, has been refocused to uphold its mandate without compromise.
Acknowledging the Honourable Minister of Marine and Blue Economy for his proactive leadership, Oyebamiji noted that the establishment of the committee represents a critical step in addressing the persistent safety challenges in inland water transport.
“This is another solution-driven initiative aimed at eliminating boat mishaps on our waterways. I assure you that the confidence reposed in this committee will not be misplaced.
“At NIWA, this is an opportunity for us to intensify our efforts in reducing marine accidents to the barest minimum. On behalf of my fellow committee members, we pledge to work diligently and with utmost focus on the assigned terms of reference.
“Safety on our inland waterways is non-negotiable. NIWA has been refocused to ensure the highest safety standards, and this committee will work diligently to address the causes of boat mishaps and find lasting solutions,” Oyebamiji said.
The committee has been tasked with evaluating the root causes of boat accidents and recommending lasting solutions to enhance safety and operational standards.
The Lagos State Government, through the Ministry of Waterfront Infrastructure Development, has launched a massive clampdown on illegal dredgers operating in the State, ordering them to stop work immediately.
This exercise, which was carried out by the officials of the Ministry of Waterfront Infrastructure Development, is aimed at curbing environmental degradation and promoting sustainable development across the waterfront schemes located across the coastal regions of the metropolis.
According to a statement, the enforcement operation, led by the Commissioner for Waterfront Infrastructure Development, Hon. Ekundayo Alebiosu, alongside members of his team, raided several illegal dredging sites which were subsequently shut down by the officials of the Ministry.
Some suspected dredging operators were arrested and a stop-work order was served on erring dredgers for non-compliance with laid-down regulations of the State Government.
Alebiosu warned the operators that failure to comply with extant laws guiding dredging activities could have dire effects and will result in severe penalties, including total closure of the sites.
Reacting to the claim that Dredgers are the major cause of environmental degradation in the state, including erosion and flooding, the Commissioner emphasised the need for dredging activities to be conducted lawfully to preserve roads, public infrastructure, and wetlands.
He explained that the State Government has vowed to streamline the activities of dredgers in the state to meet acceptable international standards.
“The Lagos State Government’s clampdown on illegal dredgers is a significant step towards protecting the environment and promoting sustainable development in the state.
“We will continue to carry out surveillance and raids across the coastal areas to ensure that the activities of a few don’t impact the lives of law-abiding citizens negatively”, Alebiosu stated.
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