Traffic to the Nigerian pavilion, at the just concluded International Telecommunications Union, ITU Telecom world summit became unprecedented as the Secretary General of the union, Dr Hamadoun Toure encouraged investors to head to Nigeria, stoutly claiming that the country’s telecom market is haven for technology businesses.
This was as the Executive Vice Chairman of Nigerian Communications Commission, NCC, Dr Eugene Juwah had highlighted several prospects that could benefit interested investors in the Nigerian economy, in an attempt to woo investors to the new broadband sector the country was nurturing .
Juwah also had his path ways cut with two prominent business entities in the Nigerian telecom sector, MTN and Etisalat testified to having turned their economies around with the Nigerian investment.
At that point, it was a matter of who is fit to come and where his business plans are fit to compete. The stage was set when on the first day of the event, Nigeria snapped the golden opportunity of hosting the Leaders Lunch Forum, capitalising on the opportunity to showcase to thousands of participants from across the world, pathways to revitalising its economy with broadband business.
Toure was there, savouring the details, particularly when Juwah’s diplomatic presentation of Nigeria’s broadband business plan held everybody spell bound: ‘“I do not need to bore you on the figures of our population because you already know that Nigeria is the most populated black Nation in the world. You are also aware of the high ratings of Nigeria in terms of mobile penetration and general ICT growth.
Investment in the Nigerian telecom industry is well over $25 billion and we can say that it is well invested. ICT sectoral growth is at 30 percent for the past 3 years, sectoral contribution to GDP was 7.05 % in 2012 and currently stands at 8.53 percent. You can’t get it better anywhere, in terms of robust and steady favourable business climate”
Juwah however quipped in : “But we still have low broadband penetration. However, we have a lot of international broadband cable lying on our shores, amounting to about 10 tetra bytes but we have inadequate fibre infrastructure in several states leading to high cost of services.
The problem we have in Nigeria is actually that of distribution to the last mile. Although, this may be a challenge, we also see it as an opportunity that investors can come and take advantage of “
“However, in order to address the paucity of broadband penetration in Nigeria, government had introduced some regulatory initiatives. First of all, government has released a national broadband plan from 2013-2017. We as NCC, representing government, have also been holding consultation on a proper framework for broadband investment and services in Nigeria.
We have announced open for auction our free 2.3Ghz spectrum, for wholesale service operators to provide last mile broadband services to our regions and hinterlands. This will commence in January 2014. We are also getting ready to license what we call Infrastructure companies, InfraCo, to roll out high speed broadband backbone in 2014.
Nigerian broadband map has mandated what is called the open access model as a strategy and we as a regulatory agency have out rightly decided to solve the tactical issues involved in owning access by developing what we call the Nigerian Open Access Model. So there are mountains of opportunities now for any investor that would want to tap into the huge growing Nigerian broadband market” he added.
But it was on the second day, as a special guest, when Nigeria again hosted participants to an event tagged ‘Nigeria Day’ at the pavilion, that Toure spilled his mind: “Nigeria is the largest country in Africa by population and the engine of the continent in terms of business. There are enviable human and natural resources in this country and I can say that the natural resources we can see standing are even far more than the ones deposited in the ground.
I have observed that Nigeria Nigeria’s growth has remained steady over a few years and this is a good sign for prospective businesses that crave for returns on their investments.
Nigeria was ranked the highest mobile growth by ITU for five consecutive times and that means that there are things they are doing right. It’s not possible to retain that for such a long time by fraud.
Today, we are moving from connect Africa to transform Africa and Nigeria being the business hub of Africa is important in this transformation. It has taken the lead for this in many respects because they have visionary leaders. The country’s First Lady is the ITU’s child online protection champion and she is acknowledged worldwide for protecting children and empowering women. I would like to thank her.
However, the position of the First Lady to protect children online was instrumental and an opportunity for Nigeria to correct its image which criminals from other countries, unfortunately, are trying to tarnish. Every day, you see someone purported to be from Nigeria, trying to sell one thing or the other online. But we know they are not Nigerians. Nigerians are industrious and their economy is friendly to business people” he added
Meanwhile, part sponsors of the Nigerian pavilion, MTN, Etisalat and Airtel, capped the accolades with testimonies of how the Nigerian business climate had treated them, encouraging other investors to dismiss whatever negative impressions they had about the country because they were mostly unfounded.
On behalf of the operators, Corporate Services Executive of MTN, Mr Akinwale Goodluck noted: “MTN’s decision to invest in Nigeria in 2001 was a decision highly criticised in South Africa. But it is a risk that has now paid off. I could still remember that the day the license was granted in 2001, the share price of MTN dropped by 40 percent but today, the share price in South Africa is over two thousand rands.
I also remember that a lot of people said that GSM will not work in Nigeria because there was no light but we came in and have been posting good returns. we also can say that Policy wise,, the government has been responsive enough. We want you to come and join us and together we shall share the good news”
Source: Vanguard