General News
Broadband as Potential for Economic Growth
Broadband has become a key priority of the 21st Century, and its transformative power as an enabler for economic and social growth makes it an essential tool for empowering people, creating an environment that nurtures the technological and service innovation, and triggering positive change in business processes as well as in society as a whole.
Increased adoption and use of broadband in the next decade and beyond will be driven by the extent to which broadband-supported services and applications are not only made available to, but are also relevant and affordable for consumers.
And while the benefits of broadband-enabled future are manifest, the broadband revolution has raised up new issues and challenges.
In light of these developments, ITU launched a new series of ITU Broadband Reports. The first reports in the series launched in 2012 focus on cutting edge policy, regulatory and economic aspects of broadband.
According to Brahima Sanou, Director, ITU Telecommunication Development Bureau,
“This new series of reports is important for a number of reasons. First of all, the reports will focus on topical issues of special interest for developed and developing countries alike. Secondly, the various reports build on ITU’s recognized expertise in the area augmented by regular feedback from its Membership”.
Both broadband availability and speed are strong drivers in an economy. Last year Ericsson and Arthur D. Little concluded that for every 10 percentage point increase in broadband penetration GDP increases by 1 percent.
This growth stems from a combination of direct, indirect and induced effects. Direct and indirect effects provide a short to medium term stimulus to the economy.
The induced effect, which includes the creation of new services and businesses, is the most sustainable dimension and could represent as much as one third of the mentioned GDP growth.
“Broadband has the power to spur economic growth by creating efficiency for society, businesses and consumers. It opens up possibilities for more advanced online services, smarter utility services, telecommuting and telepresence. In health care, for instance, we expect that mobile applications will be used by 500 million people,” said Johan Wibergh, Head of Business Unit Networks, Ericsson.
During a keynote speech at Broadband World Forum 2011 in Paris, Wibergh said: “We expect a huge increase from the current estimate of around 1 billion people with broadband access to about 5 billion in 2016, most of whom will have mobile broadband. Connectivity and broadband are just a starting point for new ways of innovating, collaborating and socializing.”
Erik Almqvist, Director at Arthur D. Little, said: “Until now there has been an absence of hard facts investigating the effects of broadband speed on the economy. This unique empirical study may help governments and other decisions makers in society make more correct tradeoffs and policy choices.”
Obstacles to realization in Nigeria
The hope of realizing broadband revolution in the country’s telecommunications industry may be a mirage as operators licensed to provide infrastructure expected to kick -start the service have decried barriers that discourages investment in this regard.
Engr. Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (Alton), the umbrella body of operators in the telecom space, said that granting multiple operational license to operators to provide metro and national fibre infrastructure does not guarantee investment in that regard, but implementation of well articulated policies that will encourage operators to invest their money.
He said Government must go beyond granting of licenses to eliminating those barriers such as bottlenecks in securing ‘right of way’, impediments to smooth network operations- where operators are forced to pay levies that are not legalized, and vandalisation.
He explained that broadband services are anchored on availability of bandwidth, and that with excess capacity of it at our shore, investment need to be encouraged to distribute this capacity to various geographical areas of the country for broadband revolution to be experienced as is the case with voice service.
He added that operators that secured licenses to roll out broadband services with big money are yet to invest in provision of infrastructure because of clumsy process of securing ‘right of way’ from various government agencies.
‘Right of way’ is a legal instrument allowing operators to deploy infrastructure on federal or state roads with a fee. He added that unless these barriers are addressed it may be difficult for operators to invest in infrastructure that will enable provision of broadband.
Experts have argued that none availability of fibre backhaul infrastructure required to distribute bandwidth from Lagos where the submarine cable land to those cities, is responsible for high cost of bandwidth which is affecting quality and cost of internet in those cities.
Mohammed Rudman, managing director, Internet Exchange Point of Nigeria, said that availability of distributive channels of internet and making it accessible to ISPs is essential for the country to witness a broadband revolution.
“Without moving internet capacity from Lagos to other parts of the country, we may witness a lopsided broadband revolution, only in Lagos and its environs,” he said.
Ross Bateson, Special Government Advisor for the GSMA said: “It is essential that the new Nigerian government acts quickly to support Mobile Broadband expansion, as failure to do so could hinder the country’s social and economic growth. Not only could the country realise as much as NGN862 billion of incremental GDP, but people of all ages and livelihoods would benefit from the vast amount of information and opportunities Mobile Broadband can unlock.”
General News
Pawnith Appoints Martina Ogbebor as Managing Director to Lead Strategic Launch into Nigeria’s Fintech Ecosystem
The Board of Directors of Pawnith Limited has announced the appointment of Martina Ogbebor as Managing Director and Chief Executive Officer. The appointment coincides with the official launch of Pawnith as a sophisticated new entrant in Nigeria’s financial services and alternative investment landscape.
Pawnith Limited is a technology-enabled financial services platform established to address critical gaps in access to capital by delivering transparent, dignified, and scalable financing solutions.
The Board confirmed that Ms. Ogbebor’s appointment is central to a long-term strategy that combines the operational rigor of traditional finance with the speed, efficiency, and innovation of modern fintech.
Ms. Ogbebor brings over 15 years of senior leadership experience across the telecommunications and digital infrastructure sectors, where she has led brand transformations and nationwide revenue growth initiatives.
Her appointment signals Pawnith’s intent to build a high-trust financial institution anchored on strong governance, regulatory discipline, and long-term value creation.
“The Board is confident that Martina’s experience in building high-trust, regulated brands positions her uniquely to lead Pawnith at this critical stage,” said the Chairman of the Board.
“Her mandate is clear: to establish a disciplined capital platform that delivers rapid access to funding while upholding the highest standards of ethics, risk management, and corporate governance.”
Under Ms. Ogbebor’s leadership, Pawnith is launching a multi-segment capital model designed to evolve into a comprehensive financial services and alternative investment ecosystem.
The company’s initial portfolio spans personal credit solutions, offering short- to medium-term loans for salaried professionals with transparent pricing and rapid disbursement, alongside SME and business lending focused on working capital and growth financing to help entrepreneurs stabilise cash flow and scale operations.
The portfolio also includes asset-backed lending, providing secure, collateralised facilities that support fair valuations and flexible liquidity, as well as structured lending through a forthcoming private credit arm aimed at delivering institutional-grade financing to growing enterprises.
In addition, Pawnith offers private equity investment solutions, providing strategic growth capital to select businesses and partnering with founders to drive long-term value creation, stronger governance, and operational scale.
Pawnith’s digital infrastructure prioritises speed, security, and control. The platform features secure onboarding, automated Know Your Customer (KYC) verification, and structured repayment tracking to ensure a seamless and compliant experience for both individual and corporate clients.
“Pawnith is being built as a disciplined financial platform—one that customers, partners, and regulators can trust,” the Board added. “We are not a quick-win lender; we are building a cornerstone institution for Nigeria’s evolving credit and investment market.”
PalmPay has opened a new office at 33 Old Yaba Road, Lagos, reinforcing its commitment to innovation, customer service, and operational growth in Nigeria.
The new office represents a continued investment in PalmPay’s people, operations, and infrastructure, supporting the company’s ability to deliver reliable financial services at scale. Designed to accommodate PalmPay’s growing team, the workspace enables closer cross-functional collaboration while strengthening service delivery nationwide. Located in Yaba, one of Lagos’s most established commercial and technology corridors, the office further anchors PalmPay within Nigeria’s innovation and financial ecosystem.
Speaking at the office launch, Managing Director Chika Nwosu highlighted that the new workspace reflects PalmPay’s long-term vision and dedication to excellence. “This new office represents an important step in our growth journey and our commitment to building secure, reliable, and inclusive financial solutions for our users,” he said.
The launch event was attended by PalmPay’s leadership team, employees and customers, who toured the facility and marked the company’s continued growth and progress.
With the opening of its office at 33 Old Yaba Road, PalmPay continues to strengthen its presence in Nigeria and reaffirm its mission to drive financial inclusion through innovative digital solutions.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.
The Nigerian Aviation Handling Company Plc has announced the signing of a chain of contracts with major airlines for the provision of total handling solutions.
In a statement on Tuesday, the company announced the signing of contract renewals with Air France, KLM and Virgin Atlantic, as well as the African operator, RwandAir.
NAHCO also signed fresh contracts with United Nigeria – Regional, Bellagio and Malaikair.
According to the statement, the contracts with Air France and KLM are for three years and will run till 2028, respectively. The duration of the contract with Virgin Atlantic was also put at three years.
The duration for the RwandAir contract is for three years, effective 1 October 2025.
The statement read, “The new contract with United – Regional would be for a period of five years, effective from 1 August 2025. For Bellagio and Malaikair, the contracts are for three and five years, respectively.
“Bellagio Air, Nigeria’s rising star in aviation, is redefining air travel with a blend of luxury, efficiency, and reliability. Headquartered in the vibrant city of Ikeja, Lagos, Bellagio Air is committed to providing world-class service across key domestic and regional routes.”
The Group Executive Director, Commercial and Business Development, NAHCO Plc, Saheed Lasisi, who expressed his delight with the new contracts, said NAHCO is already ready to exceed customers’ expectations.
According to Lasisi, NAHCO’s more than 46 years of unblemished excellent service delivery puts it heads and shoulders above any other service provider in the industry.
“This is what we have been doing for almost half of a century. We will continue to delight our customers and make our stakeholders happy by exceeding expectations in all aspects of our service offerings. We are always willing and ready to do more,” Lasisi added.
The Group Managing Director/Chief Executive Officer, NAHCO Plc, Olumuyiwa Olumekun, added that with the new fleet of equipment the company is deploying, service delivery will only be better.
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