Former President Olusegun Obasanjo has called for a more conducive environment in Nigeria to attract substantial foreign investments. Speaking at an exaugural lecture and book launch in Lagos on Tuesday, Obasanjo highlighted the need for the right mindset and policies to foster economic growth.
The event, which celebrated the release of “The Catalyst: Nigerian ICT Evolution Through A Journalist’s Lens” by Adedayo Oketola, a former editor of Punch, also provided a platform for Obasanjo to reflect on the growth of the telecommunications industry during his administration.
Recalling the early days of Nigeria’s telecommunications sector, Obasanjo shared that the country struggled to provide just 500,000 telephone lines despite significant investments in infrastructure. He credited the eventual success of the mobile revolution, which saw the entry of major players like MTN, Glo, and Airtel, to the creation of a favorable investment climate.
“The money to develop Nigeria is out there, but it will only come in if the right environment is created,” Obasanjo emphasized.
Telecom Sector Challenges
Also at the event, Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, highlighted the state’s achievements in laying fiber optic cables to improve internet connectivity. He stressed the importance of technology in the state’s growth, noting that young innovators in Lagos are using tech to address everyday challenges.
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, pointed out a significant challenge in the telecommunications sector—vandalism of infrastructure. He urged the public to help protect telecom assets, as such vandalism affects everyone. Maida also mentioned that the NCC is reviewing its licensing regime to align with global standards.
Industry Leaders Weigh In
Gbenga Adebayo, President of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), stressed the importance of linking the National Identification Number (NIN) with Subscriber Identity Module (SIM) cards for a robust digital economy. He also addressed economic challenges and the protection of industry investments, noting that vandalism of infrastructure remains a critical issue.
Adebayo welcomed a new law signed by President Bola Tinubu, which penalizes the vandalism of telecom infrastructure, a move expected to provide more security for the sector’s investments.
Reflections on Journalism
Oketola, whose career at Punch is drawing to a close, delivered an exaugural lecture titled “Print Journalism in Peril: Challenging Times for Newspaper Editors.” He expressed concerns over the print media’s struggle to generate revenue, exacerbated by the rise of social media and misinformation. However, he affirmed that print media still holds integrity, serving as a corrective measure against misinformation through investigative journalism and fact-checking.
Oketola called for the review of outdated business models in print media to adapt to the changing landscape of news consumption.
In her goodwill message, Reverend Mother Esther Ajayi, founder of the Love of Christ Generation Church, encouraged Nigerians to remain hopeful and pray for a better economic future.
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