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 Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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