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Ericsson Foresees Rapid Growth in Global Mobile Connectivity

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Ericsson
  • Ericsson Foresees Rapid Growth in Global Mobile Connectivity

The latest edition of the Ericsson Mobility Report has predicted continued rapid global growth in mobile connectivity.

According to the report, there would be additional 2.6 billion new mobile broadband subscribers by 2022, averaging to more than one million each day.

Announcing the report in Lagos at a press conference in Lagos recently, the Managing Director, Ericsson Nigeria, Mr. Rutger Reman, said the dominant access technology that will drive the rapid growth, would be 4G LTE in 2018, making it the fastest-growing mobile technology in history. He said Africa added onine million new mobile subscriptions in the first quarter of 2017, reaching a total of 985 million.

The latest collection of statistics about the growth of subscribers and data traffic in mobile networks is presented in the June edition of the Ericsson Mobility Report. It shows the highest year-on-year mobile data growth globally since 2013, led by massive growth in India and Africa, and highlights the underlying need for mobile data.
According to the report, Nigeria is among the top five countries with over 3 million mobile subscriptions net additions in Q1 2017.

The use of smartphones and easy access to mobile internet services comprise a major part of the traffic numbers.
According to Reman, Ericsson analyses “smartphone mobile data traffic” within “mobile data traffic” to illustrate this trend more clearly.

“By the end of 2022, total smartphone mobile data traffic will have increased nine times, reaching 66 ExaBytes per month.

The November 2016 edition of the Ericsson Mobility Report shows that mobile data traffic continues to grow in sub-Saharan Africa, and is showing no signs of slowing down. It is forecast to grow by around 55 per cent annually between 2016 and 2022. The rapid increase in mobile data traffic in sub-Saharan Africa is driving operators to explore methods of optimising network capacity, one of which is complementing traffic on Wi-Fi networks. Operators are offering Wi-Fi to consumers either as stand-alone or bundled with existing packages, and are extending Wi-Fi calling services to subscribers with devices bearing this capability,” the report said.

Chief Strategy Officer and Head of Technology and Emerging Business, Ericsson, Niklas Heuveldop, said: “Based on measurements made in hundreds of mobile networks, the Ericsson Mobility Report data truly illustrates the tremendous underlying growth in the industry. 4G subscriptions are increasing faster than ever, Voice over LTE uptake is accelerating and traffic growth has reached levels we have not seen since 2013.

“I am particularly excited to see the industry’s major steps to progress network evolution, including the approval of the Non-Standalone 5G New Radio (NR) that will enable early 5G deployments. According to our forecast, we anticipate that this will lead to more than half a billion 5G subscriptions and population coverage of 15 percent by 2022.”

The report further said test in 2018, 4G LTE technology would overtake GSM as the largest access technology by number of subscriptions. The speed with which the technology has been rolled out and adopted is unprecedented. It has taken only five years for LTE to cover 2.5 billion people, compared to eight years for WCDMA/HSPA, or 3G. In the first quarter of this year alone, 250 million new LTE subscriptions were added, the report said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Crude Oil

Oil Prices Continue to Slide: Drops Over 1% Amid Surging U.S. Stockpiles

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Crude Oil

Amidst growing concerns over surging U.S. stockpiles and indications of static output policies from major oil-producing nations, oil prices declined for a second consecutive day by 1% on Wednesday.

Brent crude oil, against which the Nigerian oil price is measured, shed 97 cents or 1.12% to $85.28 per barrel.

Similarly, U.S. West Texas Intermediate (WTI) crude slumped by 93 cents or a 1.14% fall to close at $80.69.

The recent downtrend in oil prices comes after they reached their highest level since October last week.

However, ongoing concerns regarding burgeoning U.S. crude inventories and uncertainties surrounding potential inaction by the OPEC+ group in their forthcoming technical meeting have exacerbated the downward momentum.

Market analysts attribute the decline to expectations of minimal adjustments to oil output policies by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, until a full ministerial meeting scheduled for June.

In addition to concerns about excess supply, the market’s attention is also focused on the impending release of official government data on U.S. crude inventories, scheduled for Wednesday at 10:30 a.m. EDT (1430 GMT).

Analysts are keenly observing OPEC members for any signals of deviation from their production quotas, suggesting further volatility may lie ahead in the oil market.

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Energy

Nigeria Targets $5bn Investments in Oil and Gas Sector, Says Government

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Crude Oil - Investors King

Nigeria is setting its sights on attracting $5 billion worth of investments in its oil and gas sector, according to statements made by government officials during an oil and gas sector retreat in Abuja.

During the retreat organized by the Federal Ministry of Petroleum Resources, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, explained the importance of ramping up crude oil production and creating an environment conducive to attracting investments.

He highlighted the need to work closely with agencies like the Nigerian National Petroleum Company Limited (NNPCL) to achieve these goals.

Lokpobiri acknowledged the challenges posed by issues such as insecurity and pipeline vandalism but expressed confidence in the government’s ability to tackle them effectively.

He stressed the necessity of a globally competitive regulatory framework to encourage investment in the sector.

The minister’s remarks were echoed by Mele Kyari, the Group Chief Executive Officer of NNPCL, who spoke at the 2024 Strategic Women in Energy, Oil, and Gas Leadership Summit.

Kyari stressed the critical role of energy in driving economic growth and development and explained that Nigeria still faces challenges in providing stable electricity to its citizens.

Kyari outlined NNPCL’s vision for the future, which includes increasing crude oil production, expanding refining capacity, and growing the company’s retail network.

He highlighted the importance of leveraging Nigeria’s vast gas resources and optimizing dividend payouts to shareholders.

Overall, the government’s commitment to attracting $5 billion in investments reflects its determination to revitalize the oil and gas sector and drive economic growth in Nigeria.

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Commodities

Palm Oil Rebounds on Upbeat Malaysian Exports Amid Indonesian Supply Concerns

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Palm Oil - Investors King

Palm oil prices rebounded from a two-day decline on reports that Malaysian exports will be robust this month despite concerns over potential supply disruptions from Indonesia, the world’s largest palm oil exporter.

The market saw a significant surge as Malaysian export figures for the current month painted a promising picture.

Senior trader David Ng from IcebergX Sdn. in Kuala Lumpur attributed the morning’s gains to Malaysia’s strong export performance, with shipments climbing by a notable 14% during March 1-25 compared to the previous month.

Increased demand from key regions like Africa, India, and the Middle East contributed to this impressive growth, as reported by Intertek Testing Services.

However, amidst this positivity, investors are closely monitoring developments in Indonesia. The Indonesian government’s contemplation of revising its domestic market obligation policy, potentially linking it to production rather than exports, has stirred market concerns.

Edy Priyono, a deputy at the presidential staff office in Jakarta, indicated that this proposed shift aims to mitigate vulnerability to fluctuations in export demand.

Yet, it could potentially constrain supply availability from Indonesia in the future to stabilize domestic prices.

This uncertainty surrounding Indonesian policies has added a layer of complexity to palm oil market dynamics, prompting investors to react cautiously despite Malaysia’s promising export performance.

The prospect of Indonesian supply disruptions underscores the delicacy of global palm oil supply chains and their susceptibility to geopolitical and regulatory factors.

As the market navigates these developments, stakeholders remain attentive to both export data from Malaysia and policy shifts in Indonesia, recognizing their significant impact on palm oil prices and market stability.

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