Economy
How 5G Will Impact Nigeria’s Business Sector in 2021?
5G technology has divided public opinion across the globe. Stories of international data farming, societal controls and even claims of involvement in creating the current COVID-19 pandemic have tarnished its reputation in recent months.
As the conspiracy theories subside, the world pushes forward with plans to implement this game-changing tech and the list of “5G ready” countries looks set to boom in 2021 with Nigeria poised proudly at the front of the queue.
What is 5G?
The fifth-generation network is a wireless connection that makes use of a combination of large radio towers and smaller transmitters to bring an ultra-high frequency signal within reach of populated areas.
Using this signal, entire nations can effectively be transformed into a giant wireless network to connect everyone and everything in its path.
5G technology has been in the pipeline since 2011 when studies of millimetre waves led to research into what is now known as 5G. It’s taken several years of research and testing to get us to this point, but it’s now billed to become the telecom industry standard during the next 20 years.
The production of 5G-ready devices is still very much in its infancy and is certainly playing catch up. Current mobile phones with 4G capabilities aren’t physically able to use the network and neither are the vast majority of tech products in people’s homes.
The race is now on to connect everyone and everything to one super network that will transform businesses not only in terms of day-to-day efficiency but also in the way that user activity data can be relayed and used to enhance marketing methods.
How will 5G benefit business in Nigeria?
As with all countries, Nigerian businesses will use the new tech to transform their everyday activity into a more streamlined version of itself.
In the wake of the current pandemic, remote working is set to remain on the up and 5G’s ability to provide incredibly low latency rates means that online meetings will become as fast and crisp as their face-to-face counterparts.
Not only will low latency improve everyday activities around the office, but it will also mean big advances in the reliability of robotics. Self-drive cars, for example, rely on real-time reactions to adjust to sudden changes in the immediate environment and 5G will help to eliminate safety concerns in this area.
Lighting quick internet connection will also help enhance the online gaming community and pave the way for Nigeria to build on its recent success in La Cup D’Africana tournament where they took the top spot in the biggest PlayerUnknown’s Battleground (PUBG) competition on the continent.
Online casinos are another key area of growth that stands to make big gains from an optimised user experience thanks to 5G technology.
Online gambling in Nigeria is regulated by the National Lottery Regulatory Commission, but be aware that current laws make no provision for online casinos based in other countries so, always use a trusted source to find legitimate organisations such as the casinos that can be found at casinosnotongamstop.xyz.
The housing sector is on course to become an unlikely beneficiary from 5G networks in the coming years as advances in VR, AR and 3D technology will be used to present realistic walkthroughs and detailed presentations of property that will bring real estate marketing into a new era of high-tech marketing.
Demand for property in Nigeria has doubled over the last couple of years and this could be eased dramatically as the production of housing materials becomes more efficient and streamlined in the wake of new network capabilities.
When will 5G be available in Nigeria?
The long-awaited final announcement from the Nigerian Communications Commission (NCC) looks set to be upon us shortly as discussions with key stakeholders are entering their final stages.
After trials were rolled out during 2019, the NCC has made use of a consultation period to assess the health implications and environmental impact of the new 5G infrastructure. No huge concerns have been raised and the final piece of the puzzle is largely a question of finances as the commission clarifies who the major players will be in this market.
Although no fixed date has been set, it does look to be increasingly likely that early 2021 will see the country join the super-fast internet elite.
By Dipo Olowookere
The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.
Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.
Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.
But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.
Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.
As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.
A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.
Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.
Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.
Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.
By Adedapo Adesanya
Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.
The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.
FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.
On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.
During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.
The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Adedapo Adesanya
It was not a good day for the Nigerian Naira at the two major foreign exchange (FX) market on Friday as it suffered a heavy loss against the United States Dollar at the close of transactions.
In the black market segment, the Naira weakened against its American counterpart yesterday by N10 to quote at N1,485/$1, in contrast to the N1,475/$1 it was traded a day earlier, and at the GTBank forex counter, it depreciated by N2 to settle at N1,467/$1 versus Thursday’s closing price of N1,465/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, which is also the official market, the nation’s legal tender crashed against the greenback by N6.65 or 0.46 per cent to close at N1,464.49/$1 compared with the preceding session’s rate of N1,457.84/$1.
In the same vein, the local currency tumbled against the Euro in the spot market by N2.25 to sell for N1,714.63/€1 compared with the previous day’s N1,712.38/€1, but appreciated against the Pound Sterling by 73 Kobo to finish at N1,957.30/£1 compared with the N1,958.03/£1 it was traded in the preceding session.
The market continues to face seasonal pressure even as the Central Bank of Nigeria (CBN) is still conducting FX intervention sales, which have significantly reduced but not remove pressure from the Naira. Also, there seems to be reduced supply from exporters, foreign portfolio investors and non-bank corporate inflows.
President Bola Tinubu on Friday presented the government’s N58.47 trillion budget plan aimed at consolidating economic reforms and boosting growth.
The budget is based on a projected crude oil price of $64.85 a barrel and includes a target oil output of 1.84 million barrels a day. It also projects an exchange rate of N1,400 to the Dollar.
President Tinubu said inflation had plunged to an annual rate of 14.45 per cent in November from 24.23 per cent in March, while foreign reserves had surged to a seven-year high of $47 billion.
Meanwhile, the cryptocurrency market was dominated by the bulls but it continues to face increased pressure after million in liquidations in previous session over accelerating declines, with Dogecoin (DOGE) recovering 4.2 per cent to trade at $0.1309.
Further, Ripple (XRP) appreciated by 3.9 per cent to $1.90, Cardano (ADA) rose by 3.5 per cent to $0.3728, Solana (SOL) jumped by 3.4 per cent to $126.23, Ethereum (ETH) climbed by 2.9 per cent to $2,982.42, Binance Coin (BNB) gained 2.0 per cent to sell for $853.06, Bitcoin (BTC) improved by 1.7 per cent to $88,281.21, and Litecoin (LTC) soared by 1.2 per cent to $76.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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