Business
NCC hails Edo gov’t for safeguarding telecom Infrastructure during Construction
The Nigerian Communications Commission (NCC) has commended the Edo government for its approach in safeguarding telecom infrastructure during road construction.
The NCC said that contractors notified the commission and Mobile Network Operators (MNOs) before commencing road construction works.
The Executive Vice-Chairman (EVC), NCC, Dr Amimu Maida, who gave the commendation during a media breakfast meeting on Friday in Abuja, also urged other states to emulate Edo in reducing fibre cuts during construction.
“I would commend a particular state, Edo, its approach the matter.
“I will like to appreciate the state’s authorities in the way they have handled that collaboration in a very simple but effective manner.
“Their contractors, prior to starting any work, send out letters to the commission to inform all the telco service providers who own infrastructure to basically give them notice of work.
“That simple action has resulted in a significant decrease in the number of incidences that occur due to construction activities. So it is a model now that we are encouraging other states to adopt.”
On the quality of service that Nigerians are getting from service providers, Maida said that the commission was beginning to see positive signals through independent crowd-sourced data.
He, h, said that more work needed to be done.
“We are still not where we want to be, but we are beginning to see the right signals.
“The quality of experience is improving rather than services degrading, but at the same time, we are seeing a rise in consumption.
“We are still not where we want to be, but are we satisfied as a regulator? I think the area of satisfaction is the fact that we are beginning to see the right signals.”
The EVC said that operators upgraded about 2,800 sites last year across the three major operators, MTN, Airtel and Globacom, covering new sites, technology upgrades from 2G and 3G to 4G and 5G, and fibre additions.
He said operators had now committed to about 12,000 additional site upgrades and deployments this year.
“These numbers in terms of the work done also support this. Last year we saw just under 3,000 sites being upgraded and introduced for coverage and capacity.
“But this year they have committed to upgrading and introducing sites, which in total are about 12,000.
“This is across the three major operators, Airtel, Globalcom, and MTM. And this is a combination of new sites which have been upgraded from slower technologies, 2G, 3G, to 4G and 5G.”
On consumer protection, Maida said the NCC recently introduced a compensation directive for subscribers affected by poor service delivery.
He said the move was aimed at ensuring that consumers directly benefited, rather than government alone collecting financial penalties from defaulting operators.
“This is something that is going to be ongoing for those operators that are not showing commitment towards improving and addressing these issues,” he said.
He said that tower companies were also included in the directive, and are required to make additional investments in power and security infrastructure to support better service delivery.
In her remarks, the Executive Commissioner, Stakeholder Management (ECSM), Rimini Makama, said that the quarterly engagement was organised to enable the media to properly inform the public.
“This quarterly interaction is being held precisely because we believe that a well-informed press produces a well informed public.
“A well informed public is one of the strongest tools we have for driving real progress in the telecom sector,” she said.
Earlier, the Director Public Affairs, NCC, Nnena Ukoha, said that the commission looked forward to frank, constructive conversations on telecom trends.
“It is my expectation that we will constructively utilise this platform for open and frank conversations, sharing insights on the emerging trends in the telecommunications industry.”
NAN
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Africa’s richest man, Aliko Dangote, has revealed how entrenched interests benefiting from Nigeria’s fuel import and subsidy regime tried to frustrate the construction of his $20 billion refinery, describing them as a powerful “mafia” determined to preserve a lucrative subsidy system.
Mr Dangote said the resistance came from traders, shippers and local beneficiaries of Nigeria’s long-running petrol subsidy arrangement who saw the refinery as a threat to billions of naira in profits.
Speaking in an interview with Nicolai Tangen, chief executive officer of the Norwegian Sovereign Wealth Fund, he said these interests worked to delay access to project land and frustrate the refinery’s take-off.
“All this would have been blocked by what you call the mafia in oil business to make sure that we don’t come and address these issues,” he said.
He said securing land to build his world-class refinery took five years, with one site delayed for three and a half years and another for one and a half years, as vested interests sought to stop the project.
“But we were not deterred at all. We were actually focused. We knew what we were doing,” he added.
Mr Dangote explained that for decades Nigeria spent huge sums importing refined petroleum products despite being a major crude producer, creating a system that enriched a few players at the expense of the wider economy.
He said subsidy payments alone reached nearly $10 billion annually.
“The people who were actually benefiting because Nigeria was giving almost about $10 billion every year as subsidy… there are shippers who are making tonnes of money, there are traders who are making tonnes of money,” he said.
He added that a small group also profited from local product allocations under the subsidy regime.
“So these are the people that are not agreeing for us to settle down because they believe that no, we are coming here to displace them. Of course, that’s what we have done now,” he said.
The refinery, which required the construction of an entirely new port, roads and water infrastructure, employed 67,000 people during construction, the African billionaire said.
Mr Dangote said the project became far larger and more difficult than initially imagined, but abandoning it was never an option.
READ ALSO: Dangote rejects NNPC’s bid for bigger refinery stake, pushes for wider ownership
“When you get to the middle of the ocean, you realise that the tide was bad. When you go forward, it’s bad. When you go backwards, it’s bad. So you have to work forward,” he said, using the analogy to paint a broader picture of the difficulties he encountered while building the refinery.
He said the refinery has now changed the market structure and significantly reduced the influence of those who depended on imports and subsidy payments.
The plant currently sources over half of its crude from Nigeria while also importing from Angola, Libya and the United States.
“We source about 56 per cent from Nigeria and some from Angola. We buy quite a bit from Angola, we buy from Libya, and we buy from the US. At one point, we were doing about seven to eight cargoes of WTI from the US. But we’re getting more of Nigeria’s crude now, he said.
Mr Dangote explained that the refinery is currently buying 21 cargoes every month in Nigeria. “That’s how big we are,” he added, stating that they are more than doubling the refinery.
“You know, in the next 30 months, we will be at 1.4 million barrels per day, which is huge,” he noted.
BY NECHI NAECHE-ESEZOBOR—The Securities and Exchange Commission has said it is placing artificial intelligence, data analytics and technology-driven regulation at the centre of Nigeria’s capital market reforms to attract both local and foreign investments.
Speaking at the FSDH Investor Conference 2026 in Lagos, the Director-General of the SEC, Emomotimi Agama, said the future of global investing would increasingly depend on the quality of intelligence, data and technology supporting investment decisions rather than the size of capital alone.
According to him, the era of “intelligent investing” has already arrived, driven by artificial intelligence, real-time analytics, distributed ledger technology and algorithmic systems that are reshaping how investments are priced, allocated and protected globally.
He said, “We are at the threshold of what scholars and practitioners are calling the era of intelligent investing — a paradigm in which data does not merely inform decisions, but actively participates in them.”
Agama noted that the SEC had embarked on what he described as the most comprehensive regulatory reform agenda in its history to ensure Nigeria remains competitive in the evolving global investment environment.
He explained that the Commission’s reforms were aimed at creating a forward-looking market structure capable of supporting intelligent investing through faster settlement systems, tokenised securities and deeper derivatives markets.
According to him, the Commission’s seven-pillar capital market infrastructure vision includes plans to achieve T+1 settlement cycles, expand digital assets regulation and build a comprehensive framework for tokenised securities.
The SEC boss said the Commission was also developing governance frameworks for artificial intelligence applications in the capital market to ensure transparency, accountability and investor confidence.
“We are developing AI governance frameworks for capital market participants — frameworks that demand explainability, accountability and algorithmic fairness. An investor in Nigeria deserves to know not only what decisions were made on their behalf, but how those decisions were reached,” he said.
Agama stated that intelligent investing must be inclusive and accessible to ordinary Nigerians, adding that the SEC’s fintech-bank integration strategy targets about 20 million retail investors across the country.
He said technology and data-driven investing tools could democratise access to wealth creation opportunities for small businesses, artisans and low-income earners who had previously been excluded from formal investment systems.
The SEC DG also stressed the importance of collaboration between regulators, financial institutions, fintech firms and investors in building a resilient and technology-driven market ecosystem.
According to him, Nigeria’s capital market reforms and adoption of intelligent investing frameworks would strengthen investor confidence, improve market transparency and position the country as a leading investment destination in Africa.
He added that the Commission was strengthening investor protection through enhanced enforcement mechanisms, financial literacy programmes and the establishment of a dedicated Investor Protection Department.
Agama said, “Confidence is the ultimate asset in a capital market. Every disclosure we enforce, every fraud we prosecute, every investor we educate adds to the stock of market confidence.”
He further noted that Nigeria’s growing role in African capital market integration and digital finance initiatives would help channel long-term investments into infrastructure, gender finance and other critical sectors of the economy.
The SEC DG commended FSDH Merchant Bank for creating a platform for stakeholders to discuss the future of intelligent investing, adding that collaboration and data-sharing among market participants would be critical to building globally competitive financial markets in Nigeria.
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