The Lagos Chamber of Commerce and Industry (LCCI) has called for a balanced approach to the recent hike in telecom tariffs, emphasising the need for robust digital infrastructure investment to sustain Nigeria’s economic growth.
In a statement signed by its Director General, Dr Chinyere Almona, the LCCI highlighted the escalating operational costs in the telecommunications sector, driven by rising energy prices, inflation, currency depreciation, and the increasing cost of network equipment. These factors have pushed telecom operators to raise tariffs to remain financially viable.
While acknowledging the necessity of the tariff adjustments to address these challenges, the LCCI expressed concern over the potential burden on consumers, particularly low-income groups.
Almona stressed that Nigerian citizens and businesses deserve better quality services and enhanced regulatory oversight from the government to ensure fairness in the sector.
The statement underscored the critical role of digital infrastructure in driving Nigeria’s economic transformation.
The LCCI urged the government and private sector to ramp up investments in digital technology, which it described as essential for fostering innovation, enhancing business efficiency, and supporting the nation’s pursuit of a $1tn economy.
According to the Chamber, building a robust digital ecosystem will facilitate advancements in various sectors, including food production, security technology, social engagement, and artificial intelligence. These innovations require a digital infrastructure comparable to those in advanced economies.
The LCCI also reiterated the need for streamlining regulatory processes through automation to reduce human intervention. Simplified procedures for licensing, permits, certifications, and port operations would improve efficiency for businesses and enhance government service delivery.
Highlighting the ICT sector’s significant contribution to Nigeria’s GDP, especially during the COVID-19 pandemic and subsequent recovery, the LCCI called for greater government funding and attention to the digital and creative industries. Businesses, it noted, rely heavily on digital infrastructure for cost optimisation and operational efficiency.
The LCCI concluded by urging continuous dialogue among stakeholders to ensure a sustainable and equitable telecom sector that drives economic growth while maintaining affordability for consumers.
