News Highlights:
- Cruz emphasized the necessity of creating an environment that attracts investment to support the telecoms industry.
- He noted that telecoms play a crucial role in driving digital inclusion and economic growth in Nigeria.
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 telecom industry in driving digital inclusion and economic growth in Nigeria.
Cruz stated this 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 Cruz, the panel also featured Karl Toriola, Chief Executive Officer, MTN Nigeria; Kazeem Oladepo, Chief Operations Officer, IHS Towers; Funke Opeke, Chief Executive Officer, MainOne; and Olatunji Bello, Chief Executive Officer, Federal Competition & Consumer Protection Commission (FCCPC).
Carl Cruz who discussed challenges and the way forward for the telecoms industry, highlighted the need for an atmosphere that encourages investors to help telecom operators thrive and explained that telecoms is an enabler for digital inclusion and economic growth.
“One of the major challenges faced by the telecoms industry is the issue of security. The cases of sabotage and fibre theft on a monthly basis are over a thousand. Now, capital invested in Nigeria is being compared to capital 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,” Cruz said.
He 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 favourable deliberations and outcomes that will boost the success of the telecoms industry,” he further 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 Popool; Special Adviser to the President on Industry, Trade, and Investment, John Uwajumogu; and Special Adviser to the Honourable Minister of Finance, Budget and National Planning, Armstrong Katang.