CEO, NCC, Dr. Aminu Maida.

The Nigerian Communications Commission NCC has made a strong for collaborations and synergy with all the categories of operators and stakeholders in the telecommunications industry in order to effectively manage threats and risks associated with the rapid technological advancements and innovations in the industry.

Speaking at the just concluded two-day Telecoms Industry Risk Management Conference held in Lagos with the theme: ‘Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends’, Executive Vice Chairman/CEO of the Commission, Dr. Aminu Maida, noted that collaborative efforts were necessary as the industry navigates through the 5G and the uncharted territory of the next generations of wireless technologies.

According to him, operators and other stakeholders must of necessity, move beyond mere compliance and reactive measures, but rather concentrate more on harnessing the power of these new technologies and trends to build a resilient and future-proof telecoms industry.

He further observed that the industry finds itself in an era that is marked by rapid technological advancements, and had been in the forefront of innovations that shape the way people communicate, connect, and conduct business. He insists that as the industry navigates through this dynamic environment, there is urgent need for effective risk management.

This need, he further argued, is reinforced by the fact that the industry today stands at the crossroads of tradition and transformation, where emerging technologies and trends present both unprecedented opportunities and challenges.

He urged the stakeholders to further peep into the future towards better opportunities, higher quality services and even bigger challenges and risks associated with the 6G and 7G networks respectively, while still navigating through the 5G network.

The NCC-boss however assured that the Commission as a regulator, would remain committed to providing an environment that encourages innovation while prioritising the security and stability of the country’s telecom infrastructure.

Dr. Maida said: “In an era marked by rapid technological advancements, the telecommunications industry finds itself at the forefront of innovation, shaping the way we communicate, connect, and conduct business. As we navigate this dynamic environment, the need for effective risk management becomes increasingly paramount. Today, we stand at the crossroads of tradition and transformation, where emerging technologies and trends present both unprecedented opportunities and challenges.

“As we navigate through 5G and the uncharted territory of the next generations of wireless technologies, collaborative efforts among regulators, industry players, and other stakeholders become even more crucial for sharing best practices, threat intelligence, resources and implementing robust risk management strategies. We should therefore move beyond mere compliance and reactive measures, and instead, harness the power of these new technologies and trends to build a resilient and future-proof industry.

“While we discuss the current landscape of 5G networks, which boast of wider attack surface due to the increased number of connected devices and denser network infrastructure, it is imperative to even cast our gaze into the future. We are witnessing the dawn of 6G technology, the next frontier in wireless communication. With promises of even faster speeds, lower latency, and ground-breaking applications, 6G has the potential to revolutionise the way we experience connectivity. However, with this advancement comes the responsibility to address new risks, from cybersecurity threats to ethical considerations, ensuring that we pave the way for a secure and inclusive digital future.

“Looking beyond, the prospect of 7G technology also looms on the horizon. As we contemplate the possibilities, we must acknowledge that with each generational leap, we face not only technological advancements but also a fresh set of challenges. Anticipating and managing risks associated with 7G will require collaboration, innovation, and a proactive approach to ensure the seamless integration of this technology into our interconnected world.

“In addition to the evolution of connectivity, we must consider the implications of emerging technologies such as quantum technologies (computing, sensing, and communications), advanced artificial intelligence, and Block Chain (distributed ledger) technologies. These trends, when harnessed effectively, hold the potential to transform our industry positively. However, they also introduce complexities that demand careful consideration in our risk management strategies.

“The NCC remains committed to fostering an environment that encourages innovation while prioritising the security and stability of our telecom infrastructure. You would recall that in my engagements with the industry and Media, I had stated that collaboration is a key driver of my leadership. Together, we can build a shared understanding of emerging risks and develop comprehensive mitigation strategies.

“Building a culture of risk awareness is paramount. As an industry, we must empower our people with the knowledge and skills to proactively identify and report risks and embed security awareness and risk management practices throughout our business processes.  Emerging technologies such as AI should be leveraged to generate data-driven insights needed to predict, detect, and respond to risks in real-time. We should also monitor evolving threats and vulnerabilities on a continuous basis and streamline incidence response processes to build a resilient telecom industry.”

Meanwhile, head, corporate planning, strategy and risk management of the Commission, Mr. Kelechi Nwankwo, who delivered the welcome address at the two-day event, noted that the conference marked the beginning of a journey of exploration and discovery in a rapidly evolving landscape of the telecoms industry, which must thus analyse, adapt, and effectively manage the risks that accompany innovation and development.

According to him, the fast-disruptive world of the telecoms industry has witnessed convergence of diverse technological advancements with the potential of reshaping the future, adding that from 5G networks, the Internet of Things (IoT), and Artificial Intelligence (AI), to Cloud Computing and beyond, will bring limitless possibilities and opportunities.

He however observed that these great opportunities come with great risks, noting that it is the collective responsibility of every stakeholder and operator to address these risks and possibly safeguard the industry’s growth and sustainability.

“This conference is a testament to our collective commitment towards recognising the evolving risks and challenges we face, while embracing the immense opportunities emerging technologies and trends bring. The World Economic Forum (WEF) in a survey of global leaders on the five risks most likely to present material crisis on a global scale in 2024, reported AI-generated misinformation/disinformation as number two and cyberattacks as number five. These two are technological risks. The number one risk is extreme weather (environment) while numbers three and four are societal/political polarisation and cost-of-living crisis respectively, which are societal issues.

“Together, we will engage in discussions, gain key insights from industry experts, share experiences, and develop strategies to navigate through this ever-changing landscape. How we can mitigate technological risks and use technological innovations to provide solutions to address environmental, societal, economic (disruption of supply chains for critical goods & resources) and geopolitical (attacks on critical infrastructure) challenges, appear critical”, Mr. Nwankwo also said.