Business
FG, ATCON Eye 70% Broadband Penetration Target
The Federal Government (FG), the Association of Telecommunications Companies of Nigeria (ATCON) and other stakeholders in the telecoms industry have intensified efforts to achieve over 70 per cent broadband penetration in Nigeria by 2025.
Speaking at a conference organised by ATCON aimed at national strategic mobilisation for the actualisation of the national broadband target of 70 per cent, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Garba Umar Dambatta, said Nigeria has one of the largest telecom markets in Africa with an estimated population of over 200 million people.
In his presentation at the conference, with theme, “Realising the new set target of 70 per cent broadband penetration”, he said although the penetration is economically very challenging, it is an interesting asset to attract foreign direct investment to the Telecommunication industry.
“Therefore, enabling full connectivity and broadband access for a minimum of 70 per cent of the rapidly growing population is a vision/target that the Nigerian National Broadband plan (NNBP) seeks to achieve and surpass within the time frame of year 2020 – 2025,” he said.
At the launch of the NNBP in 2020, the Broadband penetration, which was largely driven by mobile technology, was slightly below 40 per cent. By December 2020, penetration of 45.93 per cent had been attained. As at April 2022, the penetration stands at 42.79 per cent.
According to the NCC boss, the reasons for fluctuation are quite obvious, saying that it was what informed the strategic initiatives of the Commission to deepen the penetration of fixed broadband infrastructure, which will guarantee very steady broadband services and provide higher capacity.
ATCON President, Engr. Ikechukwu Nnamani, said the strategic objectives of the event are to complement the various strategic activities already embarked upon by the Ministry of Communications and Digital Economy and all the agencies under the Ministry to achieve the set target of Broadband penetration in Nigeria with great speed.
He stated further that it is to leverage on the wide spectrum of ATCON’ sub-groups for effective participation in the new Nigerian National Broadband Plan 2020-2025 by giving them the opportunity to access the plan and suggest various ways to speed up the realisation of the established target by the government and also serve as a veritable platform to galvanise the needed input that reflect the thinking of the telecom and ICT sector.
In his remarks, Lagos State Governor, Babajide Sanwolu, said the National Broadband plan aligns with and is critical to his administration’s T.H.E.M.E.S agenda.
He explained that the NNPB does not connect only with the Making Lagos State a 21st Century Economy but resonates with all the other pillars knowing fully that technology is an enabler and cuts across all sectors.
“The impact on the Education and Technology pillar cannot be quantified, which is why as part of our metro smart city initiative, we have undertaken to connect schools and higher educational institutions to the internet. We have so far connected hundred public schools,” he said.
On fibre infrastructure, Sanwo-Olu said his government has embarked on the deployment of High Density Duct pipes towards achieving its main objectives of creating a technology enabled and sustainable smart city.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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