November 18, 2017

New broadband policy may earn Nigeria N600bn

New broadband policy may earn Nigeria N600bn.. NAIJA INVEST

The recent approval of a national broadband policy by President Goodluck Jonathan has opened the door for further investments in Nigeria’s vibrant telecommunications industry and may have a direct revenue impact of N600 billion by 2016, experts have said.

Private investment, including Foreign Direct Investments (FDIs) in Nigeria’s telecoms sector had increased by 38.8 percent in three years. The industry’s FDI, which stood at $18 billion in 2009, grew significantly to reach $25 billion in 2012. Expectations are that with the new policy, this figure would increase over the next three years. “The new policy will encourage further investments in the telecoms industry.

“For the first time, investors now have clarity on where the country is going in terms of broadband. The expected roles of government and the private sector in the emerging broadband ecosystem are clearly defined”, Stanley Muoneke, director, business development, Intel Corporation (Nigeria), told BusinessDay.

This, according to him, would in turn boost investor confidence in broadband infrastructure deployment. The GSMA, a global body representing the interest of mobile network operators, had earlier predicted that Nigeria’s broadband market would have a direct revenue impact of N600 billion by 2016.

This, according to the body, is only if the Federal Government can create the needed enabling environment.

New broadband policy may earn Nigeria N600bn.. NAIJA INVEST

New broadband policy may earn Nigeria N600bn.. NAIJA INVEST

According to Muoneke, government’s decision to approve the policy is indeed a positive development, in view of the recent proclamation by the International Telecommunications Union (ITU) that every country should have a broadband policy by 2015.

“If the policy is implemented properly, it will open up the economy to investments”, Usen Udoh, senior director, high communications, Accenture Nigeria, told BusinessDay.

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