*President Bola Ahmed Tinubu assures Nigerian telecoms consumers, that the Federal Government will overhaul the existing regulatory framework and operations of important sector of the economy to reflect global best practices, especially with greater focus on protecting critical national infrastructure

Gbenga Kayode | 绿帽献妻

The Federal Government has said the current administration is poised to pay close attention to certain revolutionary intentions cum feats in the global telecommunications space, which have made business work in other economies.

绿帽献妻 reports President Bola Ahmed Tinubu hinted at this development Friday, February 28, 2025, during a meeting with an Airtel delegation, led by Sunil Bharti Mittal, Chairman of the telecoms group, in the State House, Abuja, FCT.

Speaking while playing host to Mittal and his team, President Tinubu assured Nigerian consumers, that the government would overhaul the existing regulatory framework and operations of the telecoms sector of the economy to reflect global best practices, with greater focus on protecting critical infrastructure.

The Nigerian leader told the Chairman of Airtel: 鈥淚 am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length.

鈥淭he 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.”

The President further asserted: “We are not ashamed of copying what is working in other climes.

鈥淚t 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.

“I am pro-business, and I will continue to be that. I can give you that assurance.”

He equally noted that the efforts at tax reforms, which bills are currently in the National Assembly (NASS), in Abuja, FCT, would create a more favourable climate for investors in the economy.

鈥淲e will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities.

“We are ready to do that,” President Tinubu stated.

Mittal lauds Tinubu for far-reaching economic policies

In his remarks at the meeting, Mittal, Chairman of Airtel Networks, commended President Tinubu for the two-pronged reforms that had transformed the economy for future growth.

He said: 鈥淲hen you (Tinubu) took office, you made some promises. Given the country鈥檚 situation, I was unsure how deep and far you could take your commitments.

鈥淚 am, indeed, reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tonnes of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.”

Mittal also recalled: “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.

鈥淭he duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward.”

According to the Chairman of one of the leading Telcos in Nigeria, the reforms at the time turned India into one of the largest economies in the world.

He also stated: “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 N1,900 and is now coming back to N1,400 to N1,500.”

The Chairman noted: 鈥淚t has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises.

Besides, Mittal commended the President on the removal of the hitherto controversial petrol subsidy regime.

鈥淭he 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,” Airtel Chief said.

He equally averred: “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.

鈥淭his will be a turning point, and I would like to commend you for having held a firm position and taken the country forward.”

On backward integration initiative

Mittal as well urged the system to encourage more Nigerians to invest in the West African country, particularly those with huge financial portfolios abroad.

The Chairman of Airtel disclosed “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.”

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