President Muhammadu Buhari on Tuesday listed the Nigerian telecoms sector as one of the key sectors of that recorded “unprecedented” investment on his watch.
The President, who dropped this hint at the commissioning of the new international terminal of Murtala Muhammed Airport in Lagos, says the aviation facility “is an eloquent testimony to the strong commitment of our administration to the development of world-class infrastructure across all sectors of the Nigerian economy.”
The Nigerian telecoms market has grossed 197,499,028 phone connections representing 103.46% nationwide penetration, 143,564,481 internet connections and 79,433,833 broadband connections representing 41.61% penetration as of January 2022, according to official data by the Nigerian Communications Commission (NCC)
The President says that telecoms is one of those key sectors of the Nigerian economy that has received “unprecedented” investments by his administration.
“Despite obvious limitations in terms of availability of resources,” Buhari says, “our investments in inter-state rail connectivity, road networks, agriculture, power and telecommunications, just to mention a few, have been unprecedented.”
According to him, “starting from the year 2015 when we commenced our first tenure in office as a government, we have been deliberate and consistent in identifying and investing in critical projects that would improve the standard of living of our people, as well as contribute immensely to our growth and development as a nation.”
At the commissioning of the airport facility, President Buhari says that “our continuous investment in the building of long-lasting infrastructure in the aviation, road and rail transportation, agriculture, telecommunications, and other critical sectors is yielding massive results, and the people of Nigeria are now increasingly attesting to benefiting from the associated dividends.”
Buhari says that his administration “decided to prioritize the completion and delivery of five brand new international terminals, which were at 11% completion level when we came into power in 2015” because of the role that airport infrastructure plays as a catalyst for economic growth, Foreign Direct Investment (FDI) and development globally.
The President says that the Aviation Roadmap developed in 2016 outlined the establishment of critical infrastructure that includes a national carrier, maintenance, repairs, and overhaul centre and improved airport terminals through concession to boost aviation practice and take the industry to the next level that reflects global standards.
“We have also complemented these robust initiatives with specific fiscal policies to drive aviation infrastructure renaissance,” the President says
Under the plan, four airports in Nigeria, Lagos, Abuja, Kano and Port Harcourt, have been designated as Free Trade Zones “in which customs duty is not applicable; removal of VAT on all forms of shared transportation, including air transportation; and exemption of commercial aircraft and spare parts from VAT payment,” Buhari says.
“Similar projects at both the Nnamdi Azikiwe International Airport and Port Harcourt International Airport,” the President says, “were completed and commissioned by this administration and our people have since been benefiting from the positive economic impacts of those magnificent terminals.”
According to Buhari, “the one in Kano has also been completed, and will be commissioned soon, while work continues apace to complete that of Enugu shortly.”
The new terminal building at Nigeria’s premier airport, Murtala Muhammed International Airport, Lagos, is equipped with 66 check-in-counters, 16 immigration desks at arrival, 28 immigration desks at departure, and 8 security screening points, which Buhari says “will go a long way in contributing to the sociopolitical and economic prosperity of our great nation.”
The improved facility is expected to increase airport operations and management services to about 14 million passengers per annum, created about 3,000 direct and indirect employment opportunities for Nigerian youths, increase inflow of FDIs and drive “exponential growth in the Gross Domestic Product.”
“As the approved Aviation roadmap is being implemented,” Buhari says, “we begin to experience an unprecedented growth of the sector, putting pressure on the infrastructure and making business inefficient. If nothing is done, the growth will be stunted and all the opportunities lost.”
According to the President, “Government is responding by further investments and partnerships in the sector to tend to this challenge. Consequently, the Minister of Aviation has been directed to fast-track the airport concession programme. Similarly, the Abuja second runway is being fast-tracked. The Minister of FB&NP has been directed to source special funding for the project while the MFCT is directed to conclude the titling of the approved 12,000 hectares of land to accommodate the runway and other developmental projects.”
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