Lanre Ajayi: Takeover of Etisalat Shows Nigerian Telecos are Broke

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The planned takeover of Etisalat has been described as an unhealthy development for the country’s telecommunications industry.

 

The CEO Pinet Informatics and Immediate Past President of Association of Telecoms Companies of Nigeria (ATCON), Engr. Lanre Ajayi, said this, adding that he expected them to settle their differences amicably.

 

“Again, it shows the state of our economy and the environment that the telcos operates. The impression people and government have about the telcos before now is that they are making money in the country,” he told Daily Times.

 

“This development has gone to show that they are not making money based on the recession and the operating environment. If the Company was really making money, then they could have been able to repay the debt, or come to amiable settlement. We need to come up with appropriate policy to ensure that this situation does not occur again.”

 

The Nigerian telecoms’ regulator, Sub Section 2 of the same provision notes that, “A licensee shall, at all times, comply by the terms and condition of the licence and the provision of this act and its subsidiary legislation.”

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