Phase3 Telecoms invests $110m in Nigeria

Addressing newsmen in Abuja, the company’s director of Engineering Mr. Ajibade Momolosho disclosed that between now and 2016, another $68 million will be invested for broadband development even as he said that the company will be expanding its business frontiers to Accra and Senegal in the next one and half years.  He also stated that […]

Addressing newsmen in Abuja, the company’s director of Engineering Mr. Ajibade Momolosho disclosed that between now and 2016, another $68 million will be invested for broadband development even as he said that the company will be expanding its business frontiers to Accra and Senegal in the next one and half years.  
He also stated that the company has so far deployed 4500km of fiber optic network emphasizing that its target is to be West Africa IP backbone.
Engr. Momolosho maintained that Phase3 Telecom has contributed to the development of the telecommunications industry in Nigeria so far in its 10 years of existence.
 “In 1996 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.”
However, he urged government to be more flexible with its policies to protect fledging companies in Nigeria. He admitted that the present ICT Minster Mrs. Omobola Johnson was progressing in the right direction in terms of reducing the cost of Right of Way for telecoms firms at the federal level while effort to replicate same at the level of state and local governments was currently ongoing.
Before now, the cost of right of way for infrastructure deployment by telecoms companies in Nigeria was put at 50 percent cost of deployment, Daily Trust learnt. That has changed significantly with federal government adjusting its cost of right of way freeing up extra funding for investors to invest more.
Momolosho  further noted that getting and renewing license remained cumbersome due to government bureaucracy just as electricity supply shortage  remain a thorn in the flesh of the industry.
“The (Nigeria Communications) Commission can do more but there is significant improvement in government policy,” he said.