On Tuesday, July 4th 2017, the Nigerian Communications Commission (NCC) has stated that its involvement in the on-going N54.8 billion Etisalat debt saga was as a result of the desire to preserve the industry’s significant contribution to National GDP, infrastructure roll-out and employment creation. NCC made this known while responding to stakeholder enquiries regarding the current situation on Etisalat Nigeria.
In a statement signed by Tony Ojobo, the Director, Public Affairs, NCC, the Commission stated that Etisalat and its creditors have successfully reached a friendly resolution of key issues relating to its obligation, and that a smooth transitional process is currently ongoing on mutually agreed terms. Ojobo said the Commission was positive that Etisalat would come out stronger in a peaceful resolution of the matter.
‘‘NCC is mindful of the need to sustain the industry’s significant contribution to National GDP, employment and infrastructure roll-out at all times.The Commission is confident that the amicable resolutions reached by the parties will further strengthen Etisalat’s capacity to continue to provide services to its over 20 million customers and to fulfil its obligations to its other stakeholders as a going concern, regardless of any changes that the parties have agreed to Etisalat’s Ownership, its Board and/or its Executive Management.
‘‘We further wish to assure that as empowered by the Nigerian Communications Act 2003, the Commission will continue to work assiduously with all industry stakeholders to ensure that the Nigerian telecommunications industry remains capable of playing its critical role as a key driver of national socio-economic development”, he said