It would be recalled that indigenous contractors, under the aegis of AICAN, staged a protest at the Federal Ministry of Finance on Monday, temporarily blocking the gates of the Ministry to express frustration over delayed payments.

In a move widely described as courageous, the Minister of State for Finance reportedly defied security advice and insisted on personally addressing the aggrieved contractors.

Her intervention was said to have calmed frayed nerves, as she successfully engaged the protesters and brought them to a negotiation table, where assurances were given regarding the status of outstanding payments and the government’s commitment to resolving verified claims.

In an internal memo released by the Ministry, it was confirmed that a total of N152 billion has been disbursed to contractors whose contracts have successfully passed through the required verification processes. The Ministry emphasised that contract payments are subject to multiple checks in line with extant laws and regulations to safeguard public funds and ensure accountability and transparency.

While acknowledging the financial strain delays in payments may have caused contractors, the Ministry appealed for sustained dialogue and engagement as the most effective means of resolving outstanding issues.

Commenting on the development, Uzoka-Anite reiterated the government’s commitment to due process, stressing that transparency and fiscal responsibility remain paramount.

“We understand the pressures contractors are facing, but we must also ensure that every payment made complies fully with established procedures to protect taxpayers’ money,” she said.

The Ministry further assured contractors of its continued support and openness to constructive dialogue, while urging them to respect the payment process and the personnel of the Ministry, who have reportedly faced various forms of intimidation and harassment in the course of their duties.

The Federal Government reaffirmed its commitment to processing all legitimate payment requests in a timely and consistent manner, provided they meet due process requirements, as part of broader efforts to strengthen public financial management and rebuild confidence among Indigenous contractors.

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Mr. Bolaji Balogun, the chief executive officer of Chapel Hill Denham, made the recommendation during his keynote presentation at the “Telecoms Industry 2.0” forum, organised by Financial Derivatives Company (FDC) in Lagos on Tuesday.

The forum gathered key players in the sector to discuss its vast potential, current challenges, and the strategic path forward.

Balogun said that reviewing the telecoms tariffs has become inevitable due to the present business climate in the country.

He argued that 11 years since the tariffs were last reviewed, it makes economic and business sense to encourage investments in the sector that caters for not less than 14% of the nation’s GDP.

He further said that the federal government should lead the way towards localisation and domestication of certain operations and equipment in the sector. 

The shift, he said, would become a critical driver for sustained economic growth, technological advancement and national development.

He emphasised the telecoms sector’s immense potential but warned that this potential would remain untapped without deliberate and strategic interventions focused on localisation.

He said: “Nigeria’s telecommunications sector is poised for exponential growth, but we must prioritize domestication and localisation to unlock its full potential,” Balogun stated. He highlighted the need for a paradigm shift from an import-dependent model to one that nurtures and supports local production capabilities.

“Government policies must pivot to support local manufacturers, ensuring that the production of telecommunications equipment is anchored within Nigeria”.

A key component of Balogun’s roadmap was the urgent need for infrastructure development. 

“Expanding our network infrastructure is non-negotiable,” he asserted. “Broadband accessibility should be at the forefront of our efforts, as it is fundamental to achieving digital inclusion and fostering economic growth.”

Balogun also emphasised the importance of developing local talent to sustain the industry’s growth. 

“Investing in STEM education and creating strong linkages between academia and industry is crucial. Our local talent is the bedrock of our telecommunications future,” he said.

Balogun called for a stable and clear regulatory framework, essential for attracting investment and fostering innovation.

“We need policies that are not only clear but also consistently applied. A supportive regulatory environment will help us achieve our growth objectives,” he noted, adding that efficient dispute resolution mechanisms and proactive government engagement are key to creating a business-friendly atmosphere.

He also pointed out the telecommunications sector’s potential to drive financial inclusion.

“Mobile banking and digital financial services can significantly expand access to financial services, especially in underserved regions. The telecoms sector is central to this transformation.”

Also speaking, Mr. Wale Edun, the minister of Finance and the Coordinating Minister of the Economy, represented by Dr. Armstrong Takang, managing director of the Ministry of Finance Incorporated (MoFI), re-echoed the sentiments about the sector’s potential while expressing concern over the slowing pace of investment and job creation. 

He urged a comprehensive reassessment of the sector’s direction.

“We must critically evaluate whether our current trajectory is sufficient to prepare us for the Fourth Industrial Revolution, where telecommunications will be a cornerstone. Emerging technologies like artificial intelligence offer immense opportunities, but we need to ensure our sector is ready to capitalise on them,” Takang warned.

He also noted that while technological advances may disrupt traditional jobs, history shows that they also pave the way for new opportunities.

In her remarks, Doris Uzoka Anite, the minister of Industry, Trade, and Investment, represented by John Uwajumogu, emphasised the transformative potential of Industry 4.0 and the strategic advantage Nigeria has with its youthful population.

She highlighted the pivotal role of telecommunications in driving digital transformation and advocated for robust public-private partnerships as essential for progress.

“The government is committed to creating a conducive environment through initiatives like the National Broadband Plan and significant investments in digital infrastructure and human capital. However, the true key to success lies in fostering strong public-private partnerships,” she said.

“As the global economy becomes increasingly interconnected and decentralised, collaboration between the public and private sectors will be crucial in driving forward our digital transformation agenda.”

Anite further reinforced the government’s commitment to working closely with industry stakeholders to explore and develop opportunities for partnerships that will drive Nigeria’s telecommunications sector into a new era of growth and innovation.

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Air Peace which operated a Boeing 777 for the maiden flight, held a brief ceremony at the Muhammed International Airport (New Terminal) to celebrate the occasion.

Aside the duo of Festus Keyamo, the Minister of aviation and aerospace development, Doris Uzoka-Anite, Minister of Industry, Trade and Investment, who were present.

Chris Najomo, acting director, general, NCAA among other important dignatries were also present. As  many Nigerians also  expressed excitement as Air Peace on Saturday operated full flight to London.

The elated passengers on the Air Peace flight to London said the flight is a much-awaited one and signals a new dawn in Nigeria’s travel industry.

Meanwhile, Doris Uzoka-Anite, the minister of Industry, Trade and Investment described the feat by Air Peace as the convergence of innovation, determination, and the unwavering commitment to excellence.

Uzoka-Anite said today, Nigeria is celebrating more than just a flight; but the ingenuity of Nigerians.

“Nigeria has needed a local airline flying directly to the UK for a number of years. Air Peace proudly wears the badge of ‘Made in Nigeria.’ It is a symbol of our collective effort to showcase our capabilities to the world. From the skilled hands that maintain the aircraft to the warm smiles of the cabin crew, every aspect of Air Peace reflects the spirit of our nation,” she said.

“Let us reflect on the economic impact of this flight. Air Peace’s presence in London is not merely about arrivals and departures; it is about trade, investment, and collaboration.

“By choosing Air Peace, you choose to invest in Nigeria. You choose to empower local businesses, create jobs, and strengthen our economy. In December 2023, the UK exported £185 million to Nigeria and imported £154 million, resulting in a negative trade balance of £30.8 million. This is a trend we wish to change in Nigeria’s favour and an additional trade route is a major step in the right direction.”

She added that the choice of Nigerians to fly with Air Peace is a vote of confidence, adding that the airline has a commendable safety record, holding a 7 out of 7 safety rating according to Airline Ratings and has successfully undergone the International Air Transport Association Operational Safety Audit (IOSA) certification four times, signifying its commitment to rigorous safety standards.

“So I entreat all potential passengers to trust them to carry you safely across continents, and remember that you are part of a movement—a movement that encourages Nigerians to patronize their own. Let us be ambassadors in the skies, sharing stories of our rich heritage, our vibrant culture, and the warmth that defines us,” Uzoka-Anite added.

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The minister stated this on Friday while launching the Nigeria Automotive Industry Development Plan at a gathering that was attended by stakeholders drawn from the private and public sectors.

According to the minister, plans are underway to position Nigeria as a major player in the vehicle manufacturing industry.

Doris Uzoka-Anite said the automotive industry development plan was drawn to position Nigeria as a fully-fledged vehicle manufacturer within the next 10 years.

In her words:

“Nigeria has the capacity to produce its own vehicles. We have the raw materials; we have the skills; we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, heavy-duty trucks.

“With this plan, we should see Nigeria fully producing its own vehicles within 10 years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian.”

On his part, Joseph Osanipin, the director-general of the National Automotive Design and Development Council, stated that the policy proposed to help actualize the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.

He said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”

Members of the Automotive Industry Development Plan implementation committee are drawn from the Ministries of Finance, Transport, and Environment as well as Industry, Trade and Investment.

It also comprises the Nigeria Customs Service, the Manufacturers Association of Nigeria, and the Standards Organization of Nigeria.

Recall that last year, Nigeria’s vehicle assembling industry, estimated to be worth around N302bn, tanked to a new low due to increasing production costs and weakened demand for locally assembled automobiles.

According to the Manufacturers CEOs Confidence Index, activities of motor vehicles and miscellaneous assembly deteriorated further below the benchmark (50 points) from 48.6 to 46.7 points.

For example, in the second quarter of 2023, players in the sector saw production and distribution costs soar by 17.3 percent, while the cost of shipments increased by 14.7 percent.

Capacity utilization in the sector dropped by 5.6 percent, forcing local assemblers to cut their workforce by 5.7 percent during the period.

Before 2014, when a policy for the automobile industry was released, giving licenses for automobile dealerships in Nigeria, the importation of used cars had threatened to wipe up the gains of partnerships forged by the Nigerian governments with foreign car manufacturers in the 1970s

The Federal Government’s Automotive Policy of 2014 is geared towards providing a framework that would support automobile companies to boost local content and establish a vehicle financing scheme that would provide funds for citizens to buy new cars.

However, despite the policy, the government’s refusal to patronize locally manufactured vehicles, coupled with poor regulations, has constituted an albatross on the neck of the industry.

Currently, Nigeria produces less than 10 percent of the vehicles used in the country.

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The construction of Phase 2 of the Industrial Training Fund conference project was approved in the year 2018 and awarded to the Dantata and Sawoe construction company.

The project which was expected to have been delivered in June 2021, has however experienced considerable delay as a result of challenges not unconnected to its large scope.

In spite of these challenges, the Minister has announced that work on the project is to be expedited and result oriented.

Dr. Uzoka-Anite has assured Nigerians of her unwavering commitment to the country’s economic development driven by holistic investment plans and strategies that can compete globally.

This, she said, is hinged on President Bola Tinubu’s commitment to foreign exchange growth derived from foreign direct investments and intentional local content creation and promotion.

 “With unwavering determination, I am leaving no stone unturned to ensure the swift completion of the Industrial Training Fund Building.

 “Soon, this iconic structure will stand as a beacon of innovation, fostering growth and prosperity for our nation.  “Nigeria’s Trade and Investment Policies will thrive better when well-funded, hence the complex, where we expect that important decisions be taken, visit from local & International dignitaries and workable plans adopted for our economic growth and prosperity “, the Minister said.

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