NCC (Nigerian Communications Commission) Executive Chairman, Umar Danbatta, has said there are risks currently facing telecoms in the country. According to him, stakeholders must join hands to eliminate them.
He revealed that the risks facing the industry include cybersecurity and online fraud, regulatory burden, multiple taxations, and vandalism of telcos infrastructure. Others include right-of-way challenges, access to foreign exchange, and inter-industry indebtedness.
Danbatta who was represented by the Director of Policy, Competition and Economic Analysis, Yetunde Akinloye speaking at a stakeholder’s forum in Abuja said,
“The essence of the forum was to examine myriads of issues that challenge the implementation of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030. This is to enhance the development of a sustainable ICT sector in Nigeria.”
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What is The Way Out For The Risk Telecom Is Facing
For the way out, Danbatta said collaboration between the regulator and other stakeholders in the industry is needed. To achieve multi-stakeholder strategies aimed at identifying and addressing emerging risks in the telecommunications sector is to ensure sustainable and impacting growth.
“While risk management has been critical in our regulatory service delivery, we acknowledge that all stakeholders must be concerned about the varied uncertainties that confront the Industry.” There is no gainsaying the fact that the Information and Communication Technologies Sector is inherently filled with several business and technology risks,” Danbatta said.
“It is, therefore, important that regulatory risks be minimized to ensure that services are not disrupted, and consumers obtain the best and latest services that are globally available. The Commission in a bid to ensure that operators in the industry enjoy a conducive operating environment has had cause to seek government interventions and collaborate with other Agencies of Government in addressing major sectoral risks,” he added.
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Conclusion
The summary Danbatta was saying was that effective risk management aids effective decision-making and prevents financial and reputational loss. It also addresses potential threats.
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