The Managing Director/CEO, Airtel Nigeria, Mr. Segun Ogunsanya, has said that telecom firms in Nigeria can successfully list on the Nigerian Stock Exchange, NSE, and contribute significantly to the socio-economic development of the country barring challenges confronting operators in the sector. According to him, an enabling business environment, policies that promote ease of doing business and market forces in line with best practices are key factors that can encourage them to list on the Exchange.
Ogunsanya made this submission while making a presentation titled, “Creating an Enabling Environment for Public Listing of the Economy’s Commanding Heights: The Case for Telecoms Sector”, at the 2017 Chartered Institute of Stockbrokers, CIS, Annual National Workshop, in Abuja recently. Ogunsanya noted that following the liberalisation of the telecoms sector in 2001, the nation has benefited in terms of employment creation, attraction of foreign direct investments and social-economic development. He stated: “The sector currently accounts for 10 per cent of the nation’s Gross Domestic Product, GDP, and therefore makes it a critical national infrastructure.
In addition, connectivity among Nigerians has been enhanced with the 145,350,702 active lines as at May 2017. Investments in the sector as at Q1 2017 stood at $68billion with foreign direct investment, FDI, contribution amounting to $35billion, while over 10,000 direct jobs and 1.3million indirect jobs have been created.” He stressed that telcos are committed to providing qualitative world class telecommunications services and in turn contribute to the socio-economic development of the country.