The Value of Broadband Internet

In order for the country of Nigeria to become a significant contributor to the global economy, the connectivity issues that are prevalent in the more remote parts of the country ideally need to be addressed and resolved.

People that have access to pervasive broadbandhttp://mybroadband.co.za/news/broadband/10719-what-is-needed-for-pervasive-broadband.html are proven to directly influence a faster economic growth but in order for this to happen, the networks that provide the broadband coverage firstly need funding and building.

A broader coverage of networks would provide the general public with faster, widespread access to the Internet which in turn could become a platform for the development and growth of the Nigerian economy.

A Better Quality of Life
Pervasive Internet delivers such things as better quality education, healthcare information and employment opportunities which would enable citizens to improve their standards of living.

In regards to education, having access to the Internet for citizens in more remote locations would allow the potential for high quality, distance learning which would improve the value of students in the employment sector.

Cooperation between Nigerian universities and foreign institutions could also be encouraged, forging essential links to other educational establishments that could also be beneficial to the growth of the economy.

Conversely, highly qualified retired professionals (teachers, doctors, scientists) could impart their knowledge over the Internet to willing students from isolated locations, at no significant cost to themselves.

Similarly for healthcare, professionals can provide the public with information that people in the more remote areas of Nigeria would not previously have had access to, benefitting the healthcare services across the country.

The Need for Investment
Despite the introduction of new broadband cable http://www.budde.com.au/Research/Nigeria-Broadband-and-Internet-Market-Digital-Economy.html networks over the past few years, the coverage tends to be limited to the more densely populated areas of the coastline, with undersea cable networks laid near the coast, whereas the hinterlands must tolerate restricted access while the infrastructure cannot support the extension of the networks.

Furthermore, the price of broadband internet http://www.money.co.uk/broadband.htm has not become more accessible to promote increased usage, as might have been expected, meaning it is still largely out of reach for the greater part of the Nigerian population.

Building such a network would require a huge investment, which is why investors are unwilling to spend in to something that doesn’t have a short-term profit return.

Without the willingness of financial investors to advance the provision of a broader service, and without the stimulation of competition in the marketplace, something which the Nigerian market really needs for prices to be able to be reduced, the prices will remain high and inaccessible to the majority of citizens.

The Vision of the Future
Electronic-commerce and electronic payment schemes are made possible and are encouraged with the provision of accessible, affordable, high speed broadband Internet and with the extension of these networks, this could become available to those who reside in the more remote parts of Nigeria as well.

The Nigerian Communications Commission seems unwavering in it’s determination to provide universal access across the country, delivering efficient low-cost access to the Internet and consciously encouraging competition in the market to enable the prices to be lowered.

Omobola Johnson, Minister for Communications Technology has also promised to help the development of the infrastructure in order to increase the number of Internet users in Nigeria to 70 million by 2015. At the moment, out of 40 million Nigerians with access to the Internet, only around 3% have access to the higher quality broadband, and this 3% tends to be the higher socio-economic groups of citizens.

She also aims to promote investment into skills that are required to power the emerging industry and provide ‘digital havens’, places where the public can go to connect to the global network.

In India, the ICT sector contributes up to 6% of its nation’s GDP, whilst Nigeria’s currently makes up 3.5%. By 2015, this is hoped to be raised up to 5%.

Expansion of the Market
After the arrival of fibre-optic broadband in Nigeria in 2010 and 2012, additional cable networks are expected to be launched in 2013 and 2014 to further provide Internet to remote areas.

Due to this expansion of the market, the price of international broadband internet could be seen to drop by up to 90%, making it much more accessible.

The economy in Nigeria is beginning to rapidly evolve, in turn promoting the application of e-commerce, e-learning, e-health and online banking.