The Executive Vice Chairman of the Nigerian Communications Commission, NCC, Dr Eugene Juwah has declared that Nigeria had remained and would still remain telecom investment haven as long as Foreign and local investments into the booming telecommunications sector in Nigeria are duly protected by existing telecoms laws.
Juwah said that this has remained the strength of the sector in the past 12 years of its liberalisation. He noted that the Nigerian Communication Act 2003, which defines how telecommunications works in a win-win both for the country and the investors, has been a major source of the industry success.
The NCA, is largely regarded as one of the most progressive laws in the country. It gives the regulator absolute power, devoid of government or other external interferences to regulate the industry according to the best global practices as enshrined by the International Telecommunications Union and other regional telecoms regulatory bodies.
According to Juwah, “the power of the Nigerian Communications Act guarantees a safe market for investors that they can indeed bring their money into Nigeria and be sure that the law is there to protect their investment.”
The NCC also demonstrated as it recently signed an agreement with Canada to protect the Nigerian-bound Canada’s investment within Nigeria.
Industry experts say drawing strength from the Act, the industry has witnessed year on year growth.
The last official industry data showed that active mobile subscriptions in Nigeria has grown to over 116 million while teledensity has grown over 80 per cent in the last 12 years.