Phase3 Telecoms Hits $110m Broadband Investment Level

: L-R: Special Adviser to the Governor Lagos State on Education, Otunba Fatai Olukoga; Chairman, Lagos Research and Development Council (LRDC), Professor Olufemi Bamiro; and Director, National Centre for Technology Management (NACETEM), Professor Willie Siyanbola at the inaugural Sensitization Workshop of LRDC in Lagos…recently

PHASE3 Telecom, a Nigerian fiber optic network company, says it has so far invested $110 million to roll out broadband services to the underserved and unserved areas of the country.

Ajibade Momolosho, director of engineering, Phase3 Telecoms, says that between now and 2016, additional $68 million will be invested in broadband development by the company.

According to him, the telecoms company would be expanding its footprint in Africa by establishing presence in Accra and Senegal over the next 18 months. He also pointed out that the telecoms company has so far deployed 4500km of fibre optic network.

Reiterating its mandate, which is to be West Africa’s IP backbone, he maintained that Phase3 Telecom has contributed immensely to the development of the telecommunications industry in Nigeria in its ten years of existence.

“Five years ago, we didn’t have the kind of infrastructure in place, but Phase 3 provided the backbone at that time. It was a major contribution. We are crucial to the expansion of Nigeria’s mobile network.”

However, he opined that government needs to be more flexible with its policies to protect young companies. He admitted that the present ICT Minster, Omobola Johnson has achieved a lot in terms of reducing the cost of federal Right of Way and is currently working with states to key in to the programme.  The cost-of-right of way he disclosed forms about 50 percent of the cost of deployment.

With the reduction, he revealed it has enabled firms to do more in terms of corporate social responsibility. However, he noted that getting and renewing licenses was still cumbersome due to government bureaucracy which also needs to be worked on, not forgetting the issue of power.