Business

Nigeria to Deploy 5G Network by January 2022 – Pantami

Published

3 years ago

September 26, 2021

Eric

Mr Isa Pantami, Minister of Communication and Digital Economy, says the Five Generation (5G) network will be deployed in Nigeria in January 2022, and will aid surveillance against vandalism of public assets.

The minister disclosed this on Thursday in Maiduguri at a Town Hall Meeting to address vandalism of power and telecommunications infrastructure.

The News Agency of Nigeria reports that the event, organised by the Ministry of Information and Culture, was attended by Gov. Babagana Zulum of Borno and his Deputy, Mr Usman Kadafur and other stakeholders.

The Minister of Information and Culture, Alhaji Lai Mohammed led the other ministers who were panelists at the town hall meeting.

Pantami, who was represented by Mr Ubale Maska, Commissioner for Technical Services, Nigeria Communication Commission, said the 5G network was recently approved by the Federal Executive Council for increased connectivity.

He said while the technology would boost surveillance against criminal elements vandalising public infrastructure across the country, other measures should be put in place to arrest them and bring them to book.

The minister disclosed that there were over 50,000 telecommunication sites across the country, which made it difficult to man manually except through deployment of modern technology.

He also disclosed that there were about 16,000 reported outages by mobile network operators – MTN, Globacom, Airtel and 9Mobile – from January 2021 to July 2021.

The outages, according to him were due to fiber cuts, access denial and theft leading to service disruption in the affected areas

He noted that protection of the critical infrastructural facility was key to the nation’s security, economic vitality, public health and safety.

He decried the situation where telecoms installations that were destroyed in the attacks by terrorists, had not been replaced as a result of the lingering insecurity and tensions in parts of the North East.

As a way forward, the minister recommended continuous stakeholders buying-in and synergy among security forces.

He also urged the National Assembly to expedite passage of Critical Infrastructure Protection Bill for onward submission to the President for assent.

Business

Glo Launches New Internet Solution Products for Homes, Businesses

Published

2 weeks ago

April 8, 2024

Eric

Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.

Business

Naira Appreciates Further, Sells at N1,280/$ at Parallel Market

Published

3 weeks ago

March 30, 2024

Eric

The naira, on Friday, appreciated to N1,280 per dollar at the parallel section of the foreign exchange (FX) market.

The current FX rate signifies a 5.19 percent appreciation from the N1,350/$ reported on March 27.

Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,260 and the selling price at N1,280 — leaving a profit margin of N20.

“The price of the dollar as well as other major currencies have been falling. It is affecting our business as some customers prefer to keep their currencies than change it with us,” a currency trader identified as Aliyu told TheCable.

At the official section of the FX market, the local currency depreciated by 0.69 percent to N1,309.39/$ on March 28 — from N1,300.43/$ on March 27.

Meanwhile, the Central Bank of Nigeria (CBN), on March 29, said the economy recorded over $1.5 billion in foreign exchange (FX) inflow this month, indicating its monetary policy initiatives are effective.

The apex bank said the naira is headed in the right direction, and the administration of Yemi Cardoso, CBN governor, remains committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

TheCable

Business

NNPC Denies Reducing Petrol Pump Price

Published

3 weeks ago

March 28, 2024

Eric

The Nigerian National Petroleum Corporation (NNPC) Limited has declared that there is no plan to reduce the pump price of Premium Motor Spirit (PMS) aka petrol and Automotive Gas Oil (AGO) aka diesel.

The national oil company disclosed this through a statement on Wednesday by its Chief Corporate Communications Officer, Mr. Olufemi Soneye.

He said: “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

“The company asserts that these reports are false and urges Nigerians to disregard them entirely.

“NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” the statement added.