The Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) today signed a historic Memorandum of Understanding (MoU) aimed at enhancing regulatory efforts and protecting telecom consumers across the nation.
The MoU, which marks a significant step in the collaboration between the two regulatory bodies, was formally executed in a ceremony attended by key stakeholders from both organizations. The agreement is set to streamline efforts in ensuring consumer protection, promoting fair competition, and addressing market abuses within Nigeria’s rapidly evolving telecom sector.
In his remarks, Dr. Aminu Maida, Executive Vice Chairman (EVC) of the NCC, expressed his delight at the successful execution of the MoU, emphasizing the importance of a strategic partnership between the two agencies. He highlighted that the telecommunications industry, a critical component of Nigeria’s economic and social development, required effective regulation and consumer protection frameworks.
“We are committed to fostering a transparent, competitive, and consumer-focused telecommunications industry,” Dr. Maida stated. “This MoU is a testament to our shared vision of ensuring a level playing field for all stakeholders and safeguarding consumers who depend on affordable and reliable communication services.”
Dr. Maida also acknowledged the crucial role of the FCCPC, commending its leadership in advancing the interests of Nigerian consumers. He called for greater collaboration among all stakeholders to ensure innovation, inclusivity, and sustainability in the sector.
Echoing Dr. Maida’s sentiments, Dr. Tunji Bello, Executive Vice Chairman/CEO of the FCCPC, highlighted the synergy between the two agencies and the benefits of collaborative regulation. He explained that the interwoven nature of the regulations between the NCC and FCCPC would ensure that consumer issues and regulatory violations were swiftly addressed by the relevant agency.
“The signing of this MoU marks the convergence of two diligent government agencies, ensuring that regulatory gaps are eliminated, and consumer protection is enhanced in the telecoms industry,” Dr. Bello remarked.
Dr. Bello also praised the efforts of both teams in achieving the milestone, underlining that the collaboration aligns with the vision of President Bola Tinubu to foster economic growth, market efficiency, and consumer welfare.
The MoU aims to harmonize the mandates of the two organizations, providing clarity to telecom operators and consumers alike. It is expected to create a more seamless regulatory environment and eliminate potential conflicts or duplications in regulatory oversight.
Both agencies pledged to continue working together to ensure that the Nigerian telecom industry thrives while protecting the rights and interests of consumers.
The MoU signing ceremony marks a pivotal moment in the ongoing efforts to enhance regulatory frameworks in Nigeria, setting a precedent for further collaboration between sector regulators across various industries.