Phase3 Telecom to invest further $68 million in Nigeria

Nigeria’s ICT Minster Omobola Johnson (Image source: WEF)

Nigerian fiber optic network company Phase3 Telecom has disclosed that, to date, it has invested over $110m to ensure that broadband is extended to- and reaches both underserved and unserved areas of the country.

Nigerian ICT Minster Omobola Johnson (image: WEF)
Nigeria’s ICT Minster Omobola Johnson (Image source: WEF)

Briefing journalists in Abuja, the company’s Director of Engineering Ajibade Momolosho further disclosed that between 2013 and 2016, a further $68 million will be invested in broadband development, as the company would be expanding its business frontiers to Accra and Senegal in the next year and half.

He also stated that the company has so far deployed 4500km of fiber optic cables. In keeping with its vision to be West Africa’s IP backbone, Momolosho maintained that Phase3 Telecom has contributed immensely to the development of the telecommunications industry in Nigeria.

“Five years ago, we didn’t have the kind of infrastructure in place, but phase3 provided the backbone at that time. It was a major contribution. We are key to the expansion of mobile network,” he said.

Momolosho also stated that government needs to be more flexible with its policies to protect young companies. He acknowledged that the present ICT Minster Omobola Johnson had achieved a lot in terms of reducing the cost of federal Right of Way and is currently working on states to connect to the programme.  The cost of Right of Way, he disclosed, forms 50 per cent of the cost of deployment.

According to Momolosho this reduction has enabled firms to do more in terms of corporate social responsibility. However, he noted that recieving and renewing licences was still cumbersome due to government bureaucracy which also needs to be worked on, not forgetting the issue of erratic power supply.

Staff Writer