Lagos, Nigeria; August 13th, 2024 – Carl Cruz, Chief Executive Officer of Airtel Nigeria, has emphasized the critical importance of creating an investment-friendly environment to sustain the role of the telecoms industry in driving digital inclusion and economic growth in Nigeria. This was remarked at the Telecoms Industry Townhall, themed ‘Two Decades After: What Next for the Telecoms Industry’, on Tuesday, August 13, 2024.
The hybrid event, organized by the Financial Derivatives Company (FDC), took place at Four Points Hotel, Victoria Island, Lagos, brought together industry leaders to discuss the future of Nigeria’s telecommunications sector.
Aside from Mr Cruz, the panel also featured Karl Toriola, Chief Executive Officer, MTN Nigeria; Kazeem Oladepo, Chief Operations Officer, HIS Towers; Funke Opeke, Chief Executive Officer, MainOne; and Olatunji Bello, Chief Executive Officer, Federal Competition & Consumer Protection Commission (FCCPC).
During the event, Carl Cruz discussed challenges and ways forward for the telecoms industry, highlighting the need for an atmosphere that would encourage investors to help telecom operators thrive. Telecom, he explained, is an enabler for digital inclusion and economic growth.
Mr. Cruz said, “One of the major challenges faced by the telecoms industry is the issue of security. The cases of sabotage and fiber theft on a monthly basis are over a thousand. Now, capital being invested in Nigeria is being compared to capital being invested in other countries due to some of the impacts of these challenges. However, At Airtel, we understand that investing in infrastructure can be challenging, so we adopt a forward-looking approach as we believe that a country’s growth is significantly boosted by substantial investments. To illustrate this, I’m pleased to share that Airtel has established a digital lab here in Nigeria, serving our operations across the 13 other countries where we have a presence.”
Mr. Cruz further underscored the necessity of a strong regulatory collaboration to support industry growth.
“Industry collaboration with regulators is also very essential for the country to progress. It is therefore imperative for players in the telecoms industry to engage in constant communication with our regulators, especially to address the limiting factors affecting the telecoms business. On this note, I can say that Airtel and other operators in the telecoms industry are currently doing this and are optimistic about favorable deliberations and outcomes that will boost the success of the telecoms industry,” he said.
Other industry leaders also contributed their perspectives on the telecoms industry as it relates to the financial sector and other business areas such as aviation and banking. Some of these speakers include Chief Executive Office, Nigerian Exchange Group (NGX Group), Temi Popoola, Special Adviser to the President on Industry, Trade, and Investment, John Uwajumogu; and Special Adviser to the Honorable Minister of Finance, Budget and National Planning, Armstrong Katang.
