By Martin Ekpeke
The Chief Executive Officer of the Co-Creation Hub (ccHub), Bosun Tijani has attributed the lack of ubiquitous broadband penetration in Nigeria as largely responsible for the failure of several businesses, especially the Small and Medium Enterprises (SMEs).
Tijani, in an Interview with a National Newspaper, noted that the more people have access to the Internet, the better opportunities would be out there for startups to build businesses that people are able to consume.
“I think a major challenge for businesses, especially SMEs largely in Africa, not just for those in Nigeria is broadband. I think for us, the level of penetration is still quite important,” he said.
According to him, broadband must be considered a crucial tool for national development, especially in developing economies like Nigeria. He believes broadband networks are vital for economic growth, as the ability to communicate is hinged to wealth creation. “Broadband is not an option, but an essential tool for improvement of businesses because communication is needed for economic and country growth,” he added.
Broadband is an essential infrastructure for any economic growth. It is an enabler to accessing business and job opportunities, improving healthcare, education and government services, and facilitating social interactions, its importance cannot be overemphasised.
Nigeria’s broadband penetration is presently above 21 percent, according to the Nigerian Communications Commission (NCC), but it is expected to hit 30 percent before the end of 2018, going by the promises of the Commision and the Ministry of Communications.