Broadband investments: Ekiti promises conducive environment - ITREALMS

ITREALMS:

The Ekiti State government has promised to provide conducive environment for broadband and power investments, reports ITREALMS.

Speaking at the second annual lecture of the Freedom Online held in Lagos, Thursday at Radisson Blu Ikeja, the Ekiti State Governor, Dr. Kayode Fayemi gave this indication.

Fayemi who was the keynote speaker was represented by Akin Oyebode Jr, Special Adviser on Trade and Investment at the event and dwelt on “Fixing the Economy: Less Politics, More Substance” revealed that very soon his administration will unveil a set of incentives designed to make Ekiti the preferred destination for education and innovation investment in the country.

“To support this plan, we will ensure a conducive environment for broadband and power investments, both critical requirements for the Ekiti Knowledge Zone to develop,” he said.

The governor said that often political leaders overlook requirement for development at this era which is the broadband, insisting that Internet connectivity has become a necessity, not just for economic development, but also the delivery of governance itself.

ALSO READ: Fayemi @54: Attributes success to God's grace - ITREALMS

Political actors, he said, must work on improving the nation's broadband penetration, from some 30 per cent to at least 70 per cent, within the shortest possible time.

Various studies, he said, have shown that a 10 per cent increase in broadband penetration leads to 1.5 per cent increase in Gross Domestic Product (GDP).

As a Governor, one of the areas "I am interested in improving, is how we can lower the cost for providers of the required infrastructure in this area."

The work on infrastructure and industrial development, he said, complements the focus on agriculture and rural development.

“We are harnessing the productive capacity of Ekiti farmers, and promoting investments in agri-business along the value chain of our farm produce. So, we are now seeking investors who require crops including cassava, cashew, cocoa and yam, for their production value chain, to invest in Ekiti State. We will not only support these investments by providing quality road infrastructure, but will also ensure the research capability to improve the yield and quality of produce exists within the State,” he beckons.

Fayemi submitted that like statesmen, “we must think about the next generation, when making economic choices. The results of these often difficult choices might not be easily obvious to the less discerning, but our responsibility as leaders is to stay the course, and ensure we make the right investment and decisions, to safeguard the future of unborn generations.”

He further commended the organizers of this event for inviting him to share thoughts on what is required to deliver sustained economic development in Nigeria.

“Our role as leaders must remain the propagation and implementation of ideas that lift people out of poverty and create economic opportunities,” he asserted.

Remmy Nweke/DoP

*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*

Nigeria’s Broadband investment projection targets N199trn in 5 years

ITRealms:

The broadband investment in Nigeria is expected to attract an estimated $10 billion, about N199,049,736,557.67 in the next five years to engender the kind of growth expected, reports ITRealms.

This indication was given by the Director, Policy, Competition and Economic Analysis at Nigerian Communications Commission (NCC) , Ms. Josephine Amuwa, at the recently-concluded ITU Telecom World 2015 in Budapest, Hungary.

This project to be driven by the private sector, she said, was reaffirmed by the

KPMG, which consulted for the Commission on the national broadband project.

“If KPMG says we need an annual investment of $2 billion over the next five years to build a national next-gen broadband network, that is, a report, which is good for the industry anyway. But as you know, Nigeria is private sector-driven and government has taken out its hands from doing what private sector should do,” she said.

Amuwa also said that with the KPMG estimated investment, Nigeria private sector need to provide the money for any investment while government provides the enabling environment.

“It is the private sector players that will drive the investment,” she said, stressing that what the Federal Government through NCC would do is to ensure provision of and sustaining improved and friendly regulatory regime for their investment to offer them better Returns on Investment (ROI) and value to the final consumers.

Also, Amuwa explained that there was a need for existing operators to continue to invest in the market, especially to build better broadband infrastructure.

“They cannot afford not to invest by folding their arms, otherwise, other new players will come in and invest in those areas and move ahead of them,” she said.

As such, he said “the $2 billion annual investment that KPMG is referring to is not just one person; it is the totality of the investment that would be needed and it is going to be driven solely by the private sector.”

Amuwa further explained that KPMG is not a permanent consultants to the regulators, stressing that every project done by the NCC is carried out in line with the Public Procurement Act.

+ITRealms DSA 

ITREALMS ... everything news digitally!