Nigeria: Telco Regulator Delighted At Results From MTN's Market Listing
The Nigerian Communications Commission (NCC) has expressed delight that it was instrumental to the listing of MTN Nigeria on the country's stock exchange, which according to the commission executive chairman (EVC), Prof. Umar Garba Danbatta, "has continued to bring economic gains to Nigeria and Nigerians by boosting market capitalisation and yielding dividends to shareholders."
Industry analysis showed that the NCC took a number of earlier regulatory steps which enabled MTN to list in Nigeria and has provided pointers to other large mobile operators also to do the same. Prof. Danbatta asserts that "This is in line with its mandate to promote investment, create a level-playing field for all licensees, ensure compliance to existing telecoms laws and facilitate the delivery of top-notch quality of service (QoS) to consumers,"
The NCC chief also noted that as telecoms is a capital-intensive industry that requires continuous investment, listing on the stock exchange will enable operators to raise capital for the expansion of their networks, which will, in turn, should bring about improvement in service delivery for consumers.
The EVC said that his commission is committed, through its regulatory policies and actions, to creating the right environment to attract both Foreign Direct Investment (FDIs) and local investment into the telecom industry for increased economic prosperity for Nigerians.