Business
Broadband Access Will Translate To Productivity -Expert
An Information
Technology (ICT) expert, Dr Emmanuel Ekuwem, has said that broadband application would translate to productivity if well adopted.
Ekuwem, who is also the former President, Association of Telecommunications of Nigeria (ATCON), disclosed this in an interview with newsmen in Lagos, Saturday.
He said that according to World Bank report, every 10 per cent increase in broadband infrastructure penetration of a nation, would give a 1.3 per cent increase in Gross Domestic Product.
“One should imagine the multiplier effect when it goes up to 10, 15 per cent and 45 per cent as projected by Nigerian Communications Commission.
“Broadband will bring knowledge to our doorstep, knowledge to be empowered, to take decisions that will lead to productivity and good performance in business,’’ he said.
Ekuwem said that for broadband to be well adopted, every average Nigerian needed to understand how broadband would boost its daily activities.
He urged industry stakeholders within the digital ecosystem to popularise the benefits of broadband so that the public would know the enormous benefits attached to it.
“The moment in Nigeria people irrespective of area of engagement in the national economy see its productivity being boosted with access to broadband, the adoption would be wildfire.
“When broadband is applied, it will provide concept in education, having smart schools, smart laboratory, campuses, workshop, library hospital, surgery and others.
“A surgeon carrying out an operation may want to teleconference with other colleagues to get more contribution on the operating table and this can be possible through broadband connectivity.
“Also, a university professor will sit in his office and give lecture to his class without any physical movement, that is the essence of broadband access.
“It will ensure the surveillance of Nigerian geographic space and ensure the protection of lives and property in the country.
“The multiplier effect is simply enormous as broadband application will make way for Nigerians to adopt internet and things that are of good value.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
