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FG instructs telcos to provide standard service or face regulatory actions

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The federal government has instructed telecommunications operators to improve the quality of service to Nigerians, saying the conditions required for improved service delivery have been established by the government.

The instruction was issued in a statement signed by the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, on Sunday, stating that the operators now have both the capacity and the resources to fix outstanding issues within their networks.

Mr Tijani explained that the Nigerian government has invested in projects addressing foundational gaps in the country’s digital infrastructure, such as ‘Project Bridge’, which are capable of permanently transforming connectivity across Nigeria.

The ‘Project Bridge’ was unveiled in August 2025 as an initiative to achieve nationwide connectivity by extending Nigeria’s national fibre backbone from around 30,000 km to about 120,000 km, connecting all 774 Local Government Areas.

Since then, the project has secured approved investments of $200 million from the African Development Bank (AfDB) Group, $500 million from the World Bank, and $100 million from the European Bank for Reconstruction and Development (EBRD).

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According to the minister, the project will translate into small business owners being able to access reliable, high-speed fibre internet directly at their homes or shops, rather than relying solely on dongles or unstable mobile connections.

“When we assumed office, it was clear that Nigeria’s connectivity challenges were structural, driven by years of underinvestment in infrastructure and constraints that limited the ability of operators to deliver quality service. We have addressed this on two fronts. First, the long term structural solution.

“We have secured funding, led by the World Bank, and established the framework for a special purpose vehicle with Project BRIDGE, to deliver nationwide open access fibre infrastructure. Deployment of fibre will commence, alongside new tower rollouts through NUCAP, before the end of the year even as we also expand our satellite capability.

“These investments will address the foundational gaps in our digital infrastructure over the next two to five years and permanently transform connectivity across Nigeria,” Mr Tijani said.

Sustainability

To further address Nigeria’s connectivity challenges, Mr Tijani said the government has embarked on sustainability efforts to remove limitations affecting operators’ ability to deliver quality service.

He said the efforts include allowing tariff adjustments, alongside broader reforms and efforts to harmonise taxes, as well as macroeconomic reforms including the floating of the naira and the removal of fuel subsidies.

He added that the reforms have now enabled operators to function in a more stable, transparent, and market-driven environment and have returned to profitability.

“Second, the immediate stabilisation of the sector. We took a hard look at the sustainability of the telecommunications sector and made the necessary decisions to restore it.

“This included allowing tariff adjustments, alongside broader reforms such as the designation of telecom infrastructure as critical national infrastructure, efforts to harmonise taxes, and macroeconomic reforms including the floating of the naira and the removal of fuel subsidies,” the minister noted.

Regulations

Mr Tijani stated that the efforts imply that operators now have both the capacity and the resources to fix outstanding issues within their various networks and improve the quality of service delivered to Nigerians.

He said the conditions required for the sector to ensure service standards have been established by the government, noting that operators’ performance will now be monitored by the Nigerian Communications Commission (NCC) to ensure compliance.

READ ALSO: Nigeria needs AI-Skilled civil service to drive productivity – Bosun Tijani

“Let me therefore be clear, the conditions required for improved service delivery have now been established.

“It is now the responsibility of telecom operators such as MTN Nigeria, Airtel Nigeria, Globacom, and T2 to take all necessary steps to resolve network challenges and deliver the level of service Nigerians expect.

“At the same time, the Nigerian Communications Commission, NCC, has been fully empowered, without interference, to carry out its mandate of monitoring performance, enforcing service standards, and ensuring compliance across the industry,” Mr Tijani said.

He added that the communications ministry will continue to rely on the NCC’s periodic reports to track network performance, as well as feedback from Nigerians.

The NCC will also monitor complaints and experiences shared by Nigerians across public platforms, noting that the communications ministry will also engage both the NCC and operators more actively in the days, weeks, and months ahead.

The minister, however, warned that telecom operators that fail to ensure measurable improvements in their services will face appropriate regulatory action.

“Going forward, we expect to see clear and measurable improvements in call quality, data performance, and coverage. Where operators deliver, it will be recognised.

“Where they do not, the commission is expected to take appropriate regulatory action. Nigerians should begin to see improvements in Quality of Service and get value that they paid for now, and in the future. And we will ensure that the sector delivers,” Mr Tijani said.

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Business

Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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Business

FG debunks claims of plans to introduce telecoms, fuel taxes

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The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

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Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

READ ALSO: NRS launches Rev360 to ease tax compliance

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

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