Telecommunications Archives - Page 2 of 9

Nigeria’s telecom records growth as mobile subscriptions rise to 169.3m

Nigeria’s telecom sector FDI hits 768% in Q1 – NBS

Foreign investments in the telecommunications sector for the first quarter of 2024, surged 768.79 per...

2nd July 2024

Nigeria remains safe investment destination, says finance minister Edun Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the country’s position as a secure and promising destination for investment, citing ongoing reforms and renewed economic momentum. Speaking at the Nigeria Investment Forum on the sidelines of the World Bank/IMF Spring Meetings in Washington, D.C., Edun highlighted the government’s commitment to fiscal stability and structural reforms aimed at revitalising the economy. “One of the reasons for the new leadership at the Nigerian National Petroleum Company Limited (NNPCL) is to increase production and reduce costs,” Edun said, adding that the administration is also intensifying efforts to diversify the economy and attract private sector participation. According to the minister, the government is focused on optimising state-owned assets to close budgetary gaps and remains committed to upholding the sanctity of contracts — a principle key to building investor trust. “We are committed to stabilising the economy so the private sector will find it attractive to invest,” he said. “Our goal is to ensure fiscal congruence and support sustainable growth.” Edun outlined President Bola Tinubu’s reform agenda, which he said is already producing positive signs of recovery. These include narrowing budget deficits, a stabilising exchange rate, and an improved trade balance. “The economy is showing signs of growth. We are targeting seven per cent annual growth, and the policies we’ve implemented have laid the groundwork to achieve this,” he stated. He identified agriculture as a top priority, emphasizing the importance of boosting local production across the entire value chain to enhance food security. “We aim to close the food supply gap not through imports, but by enabling domestic producers to scale and innovate,” Edun said. Highlighting digital infrastructure as another cornerstone of economic growth, the minister revealed that 90,000 kilometres of fibre optic cable have been deployed nationwide to strengthen connectivity and support Nigeria’s growing tech ecosystem. In addition, 4,000 kilometres of roads have been put forward for private sector participation, with 1,000 kilometres already approved for delivery. Meanwhile, Central Bank Governor Yemi Cardoso echoed Edun’s optimism, noting that the government's tough economic decisions are starting to yield results. “The difficult reforms undertaken have begun to bear fruit,” Cardoso said. “We’ve managed to stabilise the macroeconomy. Fitch’s recent upgrade of Nigeria’s credit rating reflects the progress we’re making.” He acknowledged the challenges of the past 18 months but stressed the administration’s resolve to build a stronger, more resilient economy. “This is about building trust and moving forward with confidence. If we stay the course, we will achieve our goals,” he concluded.

Nigeria to install $2bn fibre-optic infrastructure – Wale Edun

The Federal Government has proclaimed its intention to make Nigeria the third-largest terrestrial fiber-optic infrastructure...

27th June 2024

FG, banks in discussion on nationwide broadband rollout

The Federal Government announced on Wednesday that it has achieved substantial progress in discussions with...

27th June 2024

Starlink becomes Nigeria’s third largest internet provider

Starlink has become Nigeria’s third largest Internet Service Provider by subscriber number in the fourth...

20th May 2024

MTN Group CEO seeks harmony across Africa to drive investments

MTN Group has called on Africa’s governments to harmonize their legislation, particularly about the technology...

17th May 2024

Airtel Africa gains N665bn in a day as NGX recovers

Alex Omenye Airtel Africa on Thursday, saw an impressive trading day, with 1.009 million shares...

17th May 2024

MTN blocks 8.6m lines amid NCC deadline extension

Telecommunication giant, MTN Nigeria have said that 8.6 million lines were completely blocked from the...

2nd May 2024

Nigerian telecom workers suspend planned industrial action

The Private Telecommunications and Communications Senior Staff Association of Nigeria has suspended its planned strike...

4th April 2024

MTN Nigeria seeks shareholders’ input in capital loss management

MTN Nigeria has announced that it will hold an extraordinary general meeting with its shareholders...

3rd April 2024

Telecel acquires MTN assets in Guinea-Bissau, Guinea-Conakry

In preparation for its upcoming initial public offering in the next three years, Telecel Group,...

28th March 2024

Nigerians used 721,522 terabytes data Jan 2024 – NCC

The Nigerian Communications Commission has revealed that Nigerians used a total of 721,522 terabytes of...

26th March 2024

MTN confirms cyberattack, says core systems remain unaffected

MTN to exit Guinea-Bissau, Conakry, amid financial difficulties 

MTN has signaled a potential departure from Guinea-Bissau, Guinea-Conakry, and Liberia, as it highlighted numerous...

26th March 2024

BUA cement announces revised date for ₦2.05 dividend

Lagos partners BOI, Sterling Bank to boost MSMEs

Disney beats Q2 expectations with strong Disney+ subscriber

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Category: Telecommunications