Nigeria: Press spotlights govt position on proposed telecoms tariff hike, others

The report that the Nigerian Government has faulted the proposal by telecommunications companies to raise their tariffs, emphasising that increasing data, voice and text message prices isn’t the “sole or optimal solution” to the sector’s challenges is one of the trending stories in Nigerian newspapers on Friday.
The Punch reports that the Federal Government has faulted the proposal by telecommunications companies to raise their tariffs, emphasising that increasing data, voice and text message prices isn’t the “sole or optimal solution” to the sector’s challenges.
It also urged the companies to explore innovative solutions to counter inflationary pressures and high operating costs.
The Minister of Communications Innovations and Digital Economy, Bosun Tijani, gave this advice at the launch of the Nigeria Digital Economy Report on Thursday in Abuja.
The report launched by the GSM Association, an international organisation that represents the interests of mobile network operators worldwide, analyses the Nigerian economy and the government’s digital transformation strategy.
The report also examines the role of the Nigerian mobile industry in supporting economic development and recommends initiatives to help the government achieve its national development objectives.
It also features the latest statistics as it concerns connectivity and forecasts on digitisations role in driving economic growth.
Recently, telecommunication companies in Nigeria renewed their push for an increase in the prices of calls, data, and other services after multiple failed attempts in the last 11 years.
In a communiqué signed by the Association of Licensed Telecom Operators of Nigeria and the Association of Telecommunication Companies of Nigeria, the telcos argued that the current prices are insufficient to maintain their business operations.
The operators stated that its general service pricing framework had not been reviewed upward in the last 11 years because of regulatory constraints.
Restating this position, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, said investments in the sector had begun to dwindle due to varying challenges of currency devaluation, high cost of business, fossil fuel, multiple taxation, amongst others.
The newspaper says that the International Monetary Fund has strongly urged the Central Bank of Nigeria to unwind the regulatory forbearance granted to Deposit Money Banks during the COVID-19 pandemic.
It also cautioned against the Federal Government over the proposed amendment to the Act establishing the apex bank, saying the autonomy of the central bank must be preserved.
The position of the Fund was contained in the Article IV Staff Consultation Report of the Board of Governors of the global organisation, which was released on Thursday in Washington DC, United States.
Although the fund didn’t give details on the waivers granted to the banks, it emphasised the importance of close monitoring of the institutions for financial sector risks.
The report read, “Directors emphasised the importance of close monitoring of financial sector risks. They supported the increase in the minimum capital for banks and urged the CBN to unwind the regulatory forbearance introduced during the pandemic. Directors acknowledged the recent improvements in the AML/CFT framework and called for sustained action to exit the FATF grey list. They supported the authorities’ efforts to foster financial inclusion and deepen the capital market.”
The IMF asserts that the legal and operational framework surrounding monetary policy in Nigeria needs fortification.
Furthermore, the IMF lamented the absence of a clear hierarchy among the objectives of the CBN, coupled with the inclusion of government representatives on the Board of Directors and potentially the Monetary Policy Committee, as outlined in the 2007 CBN Act.
This situation, according to the IMF, hinders the effectiveness of monetary policy operations and creates ambiguity in terms of accountability to the public.
The Vanguard newspaper reports that the House of Representatives said yesterday the controversial Lagos-Calabar coastal highway had no National Assembly’s approval.
It also resolved to investigate the procurement process of the coastal highway.
The House also called on the Minister of Works, Minister of Finance and the Attorney-General of the Federation and Minister of Justice to ensure that all project guarantees and credit enhancement instruments are sent to the National Assembly for approval.
The Green Chamber equally mandated its committees on Procurement and Works to investigate the procurement process of the contract for the project.
Recall that the project has generated a lot of controversies, with former Vice President, Atiku Abubakar, and Presidential Candidate of Labour Party, LP, in the 2023 election, Mr Peter Obi, asking the Federal Government to come clean on the project.
The motion, titled “Urgent need to investigate the procurement process and award of contract for the Lagos-Calabar Coastal Highway’’, was moved by Austin Achado(APC-Benue) at plenary in Abuja.
Moving the motion, Achado said award of the contract did not follow due process, adding that it also did not get the approval of the National Assembly, hence the need to thoroughly investigate the procurement process of the contract.
Achado said: “The House is disturbed that the contingent liabilities accruing to the Federal Government of Nigeria on this project violate the Debt Management Office (Establishment) Act of 2023, as Section 22(3) states that the minister shall not guarantee an external loan unless the terms and conditions of the loan shall have been laid before the National Assembly and approved by its resolution.
‘No NASS approval for debt guarantees’
“The guarantees issued to cover the debt financing component of this project do not have the approval of this National Assembly.”
The newspaper says that as Nigeria’s fuel scarcity lingers, the Chairman, Senate Committee on Petroleum (Downstream), Senator Ifeanyi Ubah, said two refineries – Port Harcourt and Warri – would be fully operational by the end of 2024.
He said plans have already been put in place to achieve the target, adding that the Kaduna Refinery would also be operational before the end of next year.
According to him, the completion of the plants and the addition of supply from the 650,000 barrels per day, bpd Dangote Refinery would enable the nation to meet its domestic fuel demand.
The senator also urged the federal government and other stakeholders to work toward the establishment of modular refineries to further expand the nation’s domestic capacity to refine crude oil.
He said: “My mandate is to ensure that the refineries in Nigeria are up and functional. By my involvement, before the end of this year, two refineries will be up and running.
“Also, before the end of next year, the Kaduna refinery will come on stream. Also, the production of jet oil, and tolubricant will be produced by mid-next year.
“I can assure Nigerians that I will tirelessly pursue and ensure that these refineries are up and running before the end of the year. We have set up a technical team to visit the refineries every two weeks in order to meet the set target.”
We’ll end gas flaring next year — Seplat
Similarly, Seplat Energy, a onstreamNigerian independent oil and Gas Company listed on both the London and Nigerian Stock Exchanges, has concluded plans to end gas flaring in 2025.
GIK/APA