NEWS
Telecos Strategise To Push Up Tariffs
It appears that the Nigerian economy has entered into the season of tariffs increases as the telecommunications companies have intensified efforts to secure approval to increase end-user tariffs.
Despite the public outcry against tariffs increased by Digital Satellite Television (DStv) made public on Wednesday, the telcos, same day, revealed what many consider their background lobbying for their own share of the subscribers’ purse through higher tariffs.
The campaign for telcos tariffs increase is being championed through their industry mouthpieces, the Association of Licensed Telecom Companies of Nigeria (ALTON) and Association of Telecom Companies of Nigeria (ATCON).
In a joint statement on the matter, the ALTON and ATCON claimed high cost of operations and asked for a cost-reflective tariff of services.
They also urged the Federal Government to protect telecom infrastructure against willful vandalism and theft.
The statement reads, “ALTON and ATCON respectfully reiterate that telecommunications infrastructure development requires substantial investments in network expansion, maintenance, and technology upgrades.
“Despite the adverse economic headwinds, the telecommunications industry remains the only industry yet to review its general service pricing framework upward in the last 11 years, primarily due to regulatory constraints.
“For a fully liberalised and deregulated sector, the current price control mechanism, which is not aligned with economic realities, threatens the industry’s sustainability and can erode investors’ confidence.
“ATCON and ALTON call upon the government to facilitate a constructive dialogue with industry stakeholders to address pricing challenges and establish a framework that balances consumers’ affordability with operators’ financial viability.”
On infrastructure deficits, ALTON and ATCON said their members still lack access to essential telecommunication services due to a myriad of challenges, including multiple taxation and regulations and prohibitive Right of Way (RoW) charges, inadequate electric power supply and vandalism of telecommunications infrastructure.
The groups sought the protection of assets and network infrastructure and urged the Federal Government for legislation that designates telecommunications infrastructure as Critical National Infrastructure (CNI).
“Both Associations expressed deep concern over the escalating security threats facing telecommunications infrastructure in Nigeria. Telecommunications infrastructure undoubtedly plays a pivotal role in Nigeria’s national security and socioeconomic growth, especially as the country currently contends with multiple security challenges that require urgent and immediate actions in response to these threats.
“Attacks on cell towers, fibre optic cables, and other critical assets disrupt telecommunications services and result in significant financial losses for operators.
“The associations urge the government to prioritize the security of telecommunications infrastructure and collaborate with law enforcement agencies to enhance protection measures and combat vandalism and sabotage effectively,” the statement added.
On regulatory independence, ALTON and ATCON advocate for the sustenance of a culture of independence in the regulatory landscape to safeguard against undue influence and unwholesome incursion into the Nigerian Communications Commission (NCC’s) domain, which will inspire trust in the telecommunications sector and encourage investment.
The associations further posited that, “Regulatory neutrality and independence are crucial to ensuring a thriving telecommunications sector. Statutory provisions lend credence to this notion, as a lack of an impartial regulator will lead to a failure to maintain public confidence in the objectivity and independence of its decisions.
“We reaffirm our commitment to working collaboratively with the government to address the challenges facing the telecommunications industry in Nigeria. By fostering a conducive regulatory environment, prioritising infrastructure development, enhancing security measures, and facilitating pricing adjustments, the government can unlock the full potential of Nigeria’s telecommunications sector, driving economic growth and societal development.”
NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
International News
ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.
NEWS
Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.
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April 27, 2024 at 10:09 am
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