LCCI Calls for Stronger Investments in Critical Infrastructure

Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has said that for Nigeria to achieve its quest for a trillion-dollar economy, the country needs more investments in critical infrastructure to drive the much-needed digital revolution for growth and development.

She said a robust digital infrastructure would support innovation across all sectors of the economy.

She added that with the recent telecoms hike, the operators and regulators must, as a matter of urgency, settle down and deliver quality services to drive operational cost efficiency for businesses and support the automation of government services.

Speaking with press, Almona said telecoms services were a critical part of lifestyle and business growth; pointing out that the telcos must remain competitive to deliver the best quality of services to businesses that could leverage technology to save some costs.

Admitting that the current operating environment in the telecommunications sector had become too expensive for the telcos to operate profitably, she said factors, such as rising energy costs, increasing price of network equipment, inflation and currency depreciation had placed a heavy financial burden on the operators.

“Telecoms providers, like other sector players, have resorted to increasing tariffs to mitigate rising costs. While this hike may offer relief for the operators, it places additional strain on consumers, particularly those in lower-income brackets. Another factor of consideration by most stakeholders is that Nigerian citizens and businesses deserve better services from the operators and more robust regulation from the government.”