Even MTN, Other Telecoms Sector Giants Are Begging Tinubu

What do you think would make MTN and other telecoms sector giants come begging Nigeria’s president Bola Ahmed Tinubu.

With their mega billion naira projects and service deliveries that have become too entrenched in the day-to-day survival of the masses, what indeed is that desirability?

But MTN Nigeria and other multinational business owners have indeed come crawling before the Asiwaju of Nigerian politics as he has now become known.

Well, their businesses, which are intertwined with the welfare of the population are at stake, and may face dire consequences if the Federal Government does not intervene.

MTN and the other telecoms sector giants, realising this, have come appealing to him to please create an enabling businesses environment to sustain their investments.

The operators utilised the opportunity presented by the panel session at the 30th Nigerian Economic Summit on Tuesday in Abuja, to make their case.

Chief Financial Officer of MTN, Modupe Kadri, cited high inflationary pressures, foreign exchange fluctuations and non-permission to increase tariff as hindering their effective operations.

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“For ten years now, telecommunication companies haven’t been permitted to increase prices, and this regulation is not providing us with a level playing field to operate.

“If we are to stay in business, this policy must be reviewed, similar to how electricity and fuel prices are adjusted to reflect current economic realities.

“Our business is mainly dependent on foreign exchange, so customers need to understand that for them to receive the services they desire, it costs money.

“The only way this economy will thrive is if there is appropriate pricing such that investments in the sector are guaranteed. The government is talking about diversifying; I’m talking about survival. What is the business case for me to invest when I’m bleeding almost to death?

“The telecommunications industry contributes 16 per cent to the GDP, and it is not something that you can mess around with”.

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Reinforcing what the MTN boss executive said on behalf of other telecoms sector giants, the Chief Executive Officer of Mondelez West Africa popularly known as Cadbury, Oyeyimka Adeboye, said “We import glucose, but we have people who can produce it here locally.

“The problem is that they do not have access to finance,” she said, urging the president Tinubu administration for policies to minimise imports while injecting finance into local operators.