Business
Assocation Charges FG On Low Broadband Penetration
The Association of Telecommunications Companies of Nigeria (ATCON), has urged the Federal Government to declare a state of emergency on the low penetration of broadband in the country. ATCON’s President, Mr Lanre Ajayi, told newsmen in Lagos that the proposal was capable of spurring the deployment of broadband services in un-served and under-served areas. He noted that adequate broadband infrastructure would motivate internet service providers (ISPs) to provide services that would be durable, accessible and affordable in the country.
Ajayi said broadband development would open a new Information Communication and Technology (ICT) frontier for internet users. “Effective broadband penetration was one of the prerequisites for a developed economy, and since the country has achieved voice telephony, there is the need for effective broadband deployment across the country,’’ he said.
On rural-urban telephony, the ATCON president told The Tide source that Nigeria still had a long way to go in bridging the gap.
He advised government to unlock the country’s economic potentials by supporting broadband roll-outs with particular emphasis on mobile broadband. “Effective broadband network will assist in bridging the digital gap in the areas of education, health care, agricultural production and communication. “Broadband will assist the police, the fire service and emergency medical personnel to react quickly to crises, while facilitating co-operation between multiple safety agencies,’’ Ajayi said.
He pointed out that Nigeria was still battling with problems of poor infrastructure in an age when other countries were making efforts to close the digital divide. Ajayi expressed regrets that telecommunications companies preferred to concentrate on urban centres instead of deploying broadband in rural areas. “Broadband penetration in the country will promote the implementation of e-government, e-commerce, internet governance, cyber security, internet exchange, spectrum management and outsourcing, among others.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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