FRI FEB 28 2025-theGBJournal| President Bola Tinubu Thursday said the telecom’s regulatory framework and operations will be reviewed to reflect global best practices, with a greater focus on protecting infrastructure.
The President spoke at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House, Abuja.
According to President, ”the entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed to of copying what is working in other climes.”
The President added that the country is ready to critically give attention to thise revolutionary intentions that can make business work.
”I am pro-business, and I will continue to that. I can give you that assurance,” the President told the Airtel executives.
The Airtel Chairman commended President Tinubu for the economic reforms that he says, has transformed the economy for future growth.
“I am indeed reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tons of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.
“During that time, the Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that.
“The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward,” he said.
Mittal said the reforms turned India into one of the largest economies in the world.
“I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500.
“It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,” the Airtel Chairman told President Tinubu.
He also commended the removal of the petrol subsidy.
“The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country.
“You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.
“This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward,” he added.
Mittal said more Nigerians should be encouraged to invest in the country, particularly those with huge financial portfolios abroad.
“I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,” he stated.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
