from OKORO CHINEDU in Lagos, Nigeria
LAGOS, (CAJ News) -THE new Strategic Vision Plan (2023-2025) is anticipated to accelerate Nigeria’s attainment of its broadband penetration target of 70 percent in the next two years.
The aim is also to deliver data download speeds of a minimum of 25mbps in urban areas and 10mbps in rural areas by 2025.
The Nigerian Communication Commission (NCC) recently unveiled the blueprint, which is a unified document of the Strategic Management Plan 2020-2024 and Strategic Vision Plan 2021-2025 reports.
FBNQuest, the merchant banking and asset management group, believes the West African country is on track.
It noted the new SVP document is on the back of the successful implementation of initiatives outlined in the SVP 2015-2020 report, which drove significant growth in the telecoms sector.
“Notably, the new report is designed to provide strategic direction towards the attainment of the commission’s policy targets for the next two years,” FBNQuest stated.
The market watcher noted a notable achievement of the SVP 2015-2020 is the considerable improvement in Nigeria’s broadband penetration rate.
The country’s penetration rate increased from around 18 percent in 2015 to 45 percent at the end of 2020.
The SVP 2023-2025 report focuses on strategic agendas such as regulatory excellence, universal broadband, market development, digital economy and strategic collaboration.
“We believe implementing the initiatives and strategies laid out in the SVP 2023-2025 report will further drive the telecoms sector’s growth and increase the sector’s contribution to Nigeria’s economic growth,” FBN Quest added.
Last Thursday, the Senate confirmed the appointment of Dr Aminu Maida as the substantive Executive Vice Chairman and Chief Executive Officer of the NCC.
He assured legislators that his priorities are to improve coverage and connectivity by bridging access gaps between rural and urban communities through increased broadband infrastructure as well as increasing the quality service and quality of experience for consumers.
Maida pledged to create a more conducive environment for investment in the sector.
– CAJ News