6 hours ago
1 ARTICLE AD
President Bola Tinubu, delegates and the Chairman of Airtel, Sunil Mittal. Photo Credit: Google
President Bola Tinubu has assured the Chairman of Airtel, Sunil Mittal, that Nigeria’s telecoms regulatory framework and operations would be revised to align with global best practices, with a stronger emphasis on protecting infrastructure.
Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, made this known in a statement on Thursday.
Onanuga said Tinubu gave the assurance during a meeting with an Airtel delegation led by the company’s Chairman, Sunil Mittal, at the State House.
“I am pro-business, and I will continue to be that. I can give you that assurance. The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn.
“It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work,” Tinubu said.
The President added that ongoing tax reforms would create a more favourable environment for investors, stressing that his administration would collaborate with tax administrators to promote growth and opportunities.
The Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, commended Tinubu for consistently supporting the growth of the telecoms sector.
Tijani noted that the President’s approval for the protection of fibre optic and undersea cables would boost industry growth, adding that the Office of the National Security Adviser had begun implementing the law.
In his remarks, Mittal praised Tinubu for the economic reforms that have reshaped the country’s economy.
“When you took office, you made some promises. Given the country’s situation, I was unsure how deep and far you could take your commitments.
“I am, indeed, reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tons of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.
“During that time, the Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that,” he said.
Mittal explained that India experienced significant economic transformation following those reforms, including the depreciation of the rupee and the re-licensing of industries.
“I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500.
“It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,” he stated.
He also commended the removal of the petrol subsidy, describing it as a difficult but necessary decision.
“The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country.
“You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.
“This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward,” he added.
Mittal urged more Nigerians with significant financial resources abroad to invest in the country.
“I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,” he said.
