The Nigerian Communications Commission (NCC) has expressed concern over the country’s reliance on foreign economies for mobile device production, resulting in a significant loss of revenue for the $76 billion telecoms sector.
During a meeting with the governing council of FintechNGR, led by President Ade Bajomo, NCC’s Executive Vice Chairman, Dr. Aminu Maida, emphasized the need for local smartphone production to retain the sector’s value within the country.
Currently, Nigeria lacks a local smartphone assembling plant, and the cost of smartphones exceeds the minimum wage, hindering financial inclusion.
The collaboration aims to explore opportunities for local production and promote the telecoms sector’s role in supporting fintech growth in Nigeria.
According to the GSMA, which announced this, members of this coalition include major global mobile operators, vendors, device ecosystem players, international organisations and financing institutions, such as the World Bank Group, the International Telecommunications Union and the WEF Edison Alliance.
By exploring new solutions including ‘de-risking’ financing mechanisms, with the support of the World Bank Group, the coalition will enhance and complement ongoing efforts to expand digital access and affordability. “By building creative solutions to bring mobile internet into the hands of those who need it the most, we believe we can make real strides towards closing the Usage Gap and help millions more maximise their potential by getting online.”ArewaNewsHub Reports.
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