Business Briefs
| By Vincent Nzemeke |
THE federal government has encouraged service providers in the country to increase the number of telecommunications base stations from the present 27,000 to 60,000 in order to meet the national target of five-fold increase in broadband penetration by 2018. This will represent about 122 percent growth level in the number of base stations in the country.
Omobola Johnson, minister of communications technology, said the ministry remained committed to speeding up the building of communications infrastructure so that all of Nigeria would have access to good quality telecoms services and high-speed internet. She noted that the move would ensure that Nigerians had affordable and reliable access to devices with the capacity to use them so that the benefits of Information and Communications Technology would be enjoyed by all. “We hope to grow base stations from 27,000 to 60,000 by 2018. Significantly, more base stations needed to be deployed across the country to meet national target of a five-fold increase in broadband penetration by 2018,” Johnson said.
According to her, the federal government would encourage the telecommunications companies to realise this feat by harmonising taxes paid by them to minimise cases of multiple taxation. She also restated government’s commitment to reducing operating costs of operators and ensure easier access to the right-of-way to build telecoms infrastructure.
A Strategic Investment
THE Nigeria Sovereign Investment Authority, NSIA, has signed a Memorandum of Understanding, MoU, with the General Electric, GE, to develop and finance projects in the healthcare, aviation, transportation and power sectors in Nigeria. Under the MoU, the GE and the NSIA would seek opportunities to collaborate in a way that the NSIA’s role as a financial investor and GE’s role as an original equipment manufacturer, would complement each other to achieve the strategic objectives of the agreement through partnership.
Uche Orji, managing director, NSIA, said the MoU marks an important milestone for the NSIA in its efforts to enhance the development of infrastructure in Nigeria and encourage foreign investment. “We believe the combination of GE’s technical leadership and the NSIA’s financial resources and local expertise will help the NSIA achieve its ultimate objectives of prudent investment in Nigerian infrastructure,” he said.
Lazarus Angbazo, president GE Nigeria, said the agreement with the NSIA supports Nigeria’s aspirations for economic development and transformation. He added that the GE was very excited to partner with the NSIA to support infrastructure projects that promote the sustainable development of the country. “The partnership will leverage significant synergies in investment experience, execution capabilities and technical solutions to accelerate development of critical infrastructure for Nigeria’s growth,” he said.
The NSIA was established as a world-class sovereign wealth fund manager to become the premier infrastructure investor/co-investor partner of choice for all commercially viable projects of size in Nigeria. Its mission include the need to build a savings base for future generations of Nigerians, enhance the development of Nigerian infrastructure and to promote fiscal stability for the country in times of economic stress.
Building Trust in Business
WorldVentures, a leading company that specialises in selling direct vacation club memberships in countries like South Africa, Kenya and Botswana, has launched a Trust Council to measure, audit, counsel and advocate company practices and behaviours, in the field and at the corporate office.
The role of the council includes advising, making recommendations for decisions and projects and at the same time creating a culture of trust, authenticity and transparency.
Mike Azcue, CEO and co-founder of WorldVentures has picked members of the council include who include corporate executive and independent representatives. Azcue said, WorldVentures is dedicated to helping to establish trust and maintain an ongoing responsibility for the company’s values and people. “The relationship we have with our Independent Representatives and DreamTrip members is invaluable, especially in an economy where trust in business is low and the pressure to succeed is high.”
Setting up the council is the first in a series of steps the company is taking to uphold its commitment to one of its key core values—“honor, embody, and expand trust”–through truthful communications and transparent business practices.
— Jul. 1, 2013 @ 01:00 GMT
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