Telcos: Operations consume 80% of our revenue, FX not accessible yet

The Tier Two (broadband) telecom operators have said operating costs which has gone up to 80 percent have brought about shock in their businesses.

Speaking yesterday when they visited the minister of Communications in Abuja, the Managing Director of Smile Communications, Godfrey Efeurhobo, said on behalf of the group that they are still finding it very difficult to access forex for not being listed among companies having direct access to source for dollars.

According to him, government should put in place palliatives that would cushion most of the challenges they faced in their business as well as grant them tax holiday, and easy access to foreign exchange.

Responding, the Minister of Communications, Adebayo Shittu, said government will support and create enabling environment for the telecommunications industry to thrive.

Shittu, who noted the challenges the operators are facing, said relevant steps would be taken on them.

He added that ICT is critical to the government and that data is a way of life to all citizens irrespective of whether in government or private activities.

He assured the operators that government would do everything possible to see that Tier Two Telecoms (Broadband) Providers do not close shop.

The Minister seized the opportunity of the visit to invite them to partner with the ministry in the establishment of an ICT Development Bank, and to adopt a campus of the ICT University, and the establishment of an ICT Exhibition Park.