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Mobile Communication: Nigeria Targets 2020 for 5G Deployment

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  • Mobile Communication: Nigeria Targets 2020 for 5G Deployment

The Federal Government has begun regulatory and policy framework that will enable the deployment of 5G network by 2020.

Executive Vice -Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, disclosed the targets in Abuja on Thursday at a sensitisation workshop organised by the Global System for Mobile Association in collaboration with NCC.

Five G technology stands for fifth generation wireless system that has the capacity to offer subscribers incredible broadband speed. It is expected to drive applications such as driverless cars and Internet of things.

Addressing journalists on the level of readiness of the country for the roll out of 5G connectivity, Danbatta 5G trials had started at the Eko Atlantic city in Lagos.

He said, “We are getting ready. 2020 will determine whether Nigeria will join other nations to roll out some 5G services or not. We will see. It all depends on readiness of the operators. The 5G spectrum bands will not be assigned to any operator for the deployment of any other services except 5G.

He added that three spectrums – 26GHz, 38GHz and 42GHz – had been reserved for use in the roll out of the advanced technology.

The GSMA identified modernised regulation and policy reform as an important enabler for boosting Nigeria’s digital economy and accelerating Internet access for millions through increased mobile broadband penetration.

The association, in its ‘Spotlight on Nigeria: Delivering a Digital Future’, report unveiled at the event, noted that Nigeria’s mobile market contributed $21bn to Gross Domestic Product in 2017, representing 5.5 per cent of Nigeria’s total GDP.

GSMA added that the country had witnessed the creation of nearly 500,000 direct and indirect jobs from the growth of the digital economy.

“Mobile connectivity has already improved the welfare of millions of Nigerians, opening the door to new digital possibilities and powering the country’s economic development,” said Head of Sub-Saharan Africa, GSMA, Akinwale Goodluck, while presenting the report.

Goodluck said, “For Nigeria to take full advantage of the next phase of its digital transformation, it’s vital that collaboration between industry and government enables the right policy environment for millions more to benefit from ultra-fast mobile broadband.

“If policies don’t keep pace with the needs of society and technological innovation, there is a risk that citizens will be left behind and productivity and competitiveness will suffer.”

In order to boost investor confidence and enable increased connectivity, Goodluck advocated for a review of the current licensing framework and conditions.

Specifically, he called on the NCC to retire the digital mobile licence, the national carrier licence and the international gateway licence.

The GSMA boss recommended elimination of old conditions in the Unified Access Service Licence and migrate many others towards a supplementary general UASL conditions document or to parallel regulations.

He also advised the country to lead the Sub-Saharan Africa region in identifying new frequency bands that 5G would benefit from, especially the 26GHz, 40GHz and 70GHz bands.

With increased spectrum harmonisation and licensing reform, the report said, the country’s mobile penetration would rise to 55 per cent of the population by 2025, with 70 per cent having 3G connectivity and 17 per cent having access to 4G networks.

The report added that only 44 per cent of mobile subscribers in Nigeria were using 3G technology while four per cent were using 4G technology, compared to over 18 per cent 4G penetration in South Africa and 16 per cent in Angola.

Also speaking at the event, Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Mr Gbenga Adebayo, called on NCC to work for free right of way for telecommunications operators and impose rollout obligations on operators.

He said free right of way would do more good to the telecommunications operators than the subsidy which NCC had offered to infrastructure operators.

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

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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 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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