Telecommunications Archives

Airtel Nigeria to Build West Africa’s largest data centre to rival MTN

Airtel Africa plans second tranche of share buyback worth $100m

Airtel Africa has stated that it is embarking on the second phase of its share...

19th August 2024

Airtel to buy 406,000 more shares from Citigroup Global Markets

Airtel Africa stated on August 7, 2024, that it will be acquiring further shares from...

8th August 2024

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations

NCC extends NIN-SIM verification deadline amid hunger protest

The Nigerian Communications Commission has given directives to telecom operators to extend the NIN-SIM verification...

5th August 2024

State govts’ fees threaten success of fiber optic expansion — Telecom experts

Stakeholders in the telecommunications industry have stated that the Federal Government’s plan to build 90,000...

11th July 2024

MTN paid N549bn taxes, levies to FG in 2023

MTN Nigeria Communications Plc has revealed that it paid N549.3 billion in taxes and levies...

8th July 2024

How FG can boost Nigeria's digital growth - Analyst

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

Tanker drivers urged to prioritise safety amid accident

Oando seeks $750m to triple oil output

Domino’s Pizza faces investors backlash over executive pay

Oil sector reforms attract $24bn new capital –

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Category: Telecommunications