Experts task FG on cost of doing business, investment in infrastructure

The leadership of the Centre for International and Strategic Studies (CISS) on Monday tasked the Federal Government with the need to address the cost of doing business and invest massively in critical infrastructure across the country, especially the power sector.

The CISS Convener, Dr Thomas Uzah, who gave the charge in Abuja during the public presentation of the assessment report on President Bola Ahmed Tinubu’s administration over the past 8 months, applauded the achievements recorded so far in the telecommunications sector.

He said: “The administration of President Bola Ahmed Tinubu was inaugurated on May 29, 2023, with the promise of revamping critical sectors of the Nigerian economy and setting the country on the path of progress.

“According to statistics from the National Bureau of Statistics (NBS), the communication sector contributed 15% to GDP in the second quarter of 2022, which translates to N10.126 trillion as an aggregate quarterly contribution to GDP in 2022.

“Consequently, this report examines the last eight months of Bola Ahmed Tinubu’s administration in the development of the critical communication sector in the country with the objective of putting issues in proper perspective with regards to the commitment to revamp the sector for greater productivity.”

While reviewing ongoing efforts aimed at revamping the sector, Dr Uzah noted that “in a bid to curb multiple taxation as complained by a cross-section of Nigerians and the business community, President Bola Tinubu signed four executive orders, which include the suspension of the five per cent excise tax on telecommunication services.

“To tackle the low and non-consumption challenge and its resultant poor ROI in nationwide fibre networks, the Ministry of Communications, Innovation, and Digital Economy has initiated a National Broadband Alliance for Nigeria (NBAN) to foster collaboration for broadband development and adoption, as well as position Nigeria at the forefront of the global digital landscape.”

While applauding the Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, and CEO/Executive Vice Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, over ongoing sectoral reforms.

“The study has shown that the telecommunications sector contributes immensely to the development of the country. Previous administrations in Nigeria since 1999 have made gains in the sector.

“The administration of President Bola Ahmed Tinubu is consolidating on these gains as part of his promised renewed hope.

His appointment of an experienced young Nigerian in the person of Bosun Tijani as Minister of Communication and Digital Economy has yielded fruits with the reforms introduced by the ministry since his assumption of duty.

“He got the President to sign an executive order to suspend multiple taxations that have stifled business in the sector.

“The administration has rolled out many initiatives that, if implemented diligently, will turn things around in the communication sector. Efforts are in place for human capacity development with the training of young men and women in ICT while also improving internet accessibility for Nigerians.

“The reforms introduced under the auspices of Dr Bosun Tijani, if sustained, will solve many of the problems witnessed in the sector.”


Tribune Online