The Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida, at the weekend delivered a message on the importance of corporate governance in transforming Nigeria’s telecommunications sector.
Speaking to a gathering of industry leaders at the 2024 Annual Corporate Governance Conference in Lagos, Maida emphasized that strong governance practices have been the backbone of the sector’s rapid growth and success, driving transparency, efficiency, and innovation.
Maida highlighted that adopting robust governance frameworks has helped build investor confidence, attract significant investments, and strengthen the sector’s infrastructure. He noted that these practices have not only enhanced customer experience but also positioned Nigeria’s telecom industry as a key player in the digital economy. According to him, the progress seen today is a direct result of the sector’s commitment to ethical standards, accountability, and strategic planning.
The conference offered a dynamic platform for stakeholders to discuss the evolving role of corporate governance, with Maida’s address underscoring the need for continuous improvement and collaboration. His insights resonated as a call for the industry to uphold high standards and embrace governance as a catalyst for sustainable growth, innovation, and global competitiveness
Dr. Aminu Maida emphasized that the impressive growth of Nigeria’s telecommunications sector is driving broader economic benefits across the nation. he highlighted how the sector’s expansion is reshaping the industry and boosting the overall economy, creating jobs, and enhancing connectivity.
Maida attributed this success to the Nigerian Communications Commission’s (NCC) steadfast commitment to enforcing high standards of corporate governance. According to him, the NCC’s dedication to transparency, accountability, and ethical practices has been the foundation for sustained investment, innovation, and infrastructure development within the sector. By prioritizing governance, the industry has not only secured its growth but has also contributed significantly to Nigeria’s economic resilience and digital future.
In his presentation titled “Corporate Survival and Sustainability—The New Face of Governance in the Nigerian Telecoms Sector,” Dr. Aminu Maida, Executive Vice Chairman of the NCC, highlighted the telecom industry’s transformative journey and its vital role in boosting Nigeria’s GDP. Speaking further, Dr. Maida emphasized that effective governance is no longer just about compliance but is now essential for the survival, sustainability, and continued growth of the sector.
Reflecting on the industry’s evolution, he pointed out that strong governance frameworks have been key to driving innovation, investment, and infrastructure development, enabling the telecom sector to thrive amid a rapidly changing digital landscape.
According to Dr. Maida, the sector’s commitment to transparency, accountability, and strategic oversight has not only fostered growth but also positioned it as a cornerstone of Nigeria’s economic development, ensuring that the benefits of connectivity reach every corner of the nation.
Maida postulated as thus, “To thrive, we need governance frameworks that not only ensure compliance but also promote innovation, trust, and long-term value.
“At the Nigerian Communications Commission, we see good corporate governance as more than a checklist; it must be a culture ingrained at every level of an organization.
“In today’s fast-evolving world, corporate governance isn’t just a regulatory requirement—it’s the foundation of the telecom industry’s success and sustainability.
“As leaders, it’s our responsibility to ensure our governance frameworks are robust, adaptable, and in tune with the changing global landscape,” he said.
Similarly, the conference brought together industry leaders to spotlight the critical role of governance in building a strong and resilient telecommunications sector in Nigeria. It served as a dynamic platform for discussions on how effective governance practices can drive innovation, enhance stability, and ensure long-term growth. Participants explored strategies to strengthen transparency, accountability, and strategic oversight, recognizing that these principles are essential for sustaining the sector’s rapid expansion and positioning it as a vital force in Nigeria’s digital economy.
Conclusively, Dr. Maida emphasized the crucial need for the telecom sector to uphold strong corporate governance as it faces the challenges and opportunities of the future. His insights highlighted that continued adherence to these principles is essential for sustaining growth, fostering innovation, and ensuring resilience in an evolving digital landscape. According to Maida, robust governance frameworks will be key to guiding the industry through future uncertainties while maintaining its role as a driving force in Nigeria’s economic development.
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