5G: Nigerian Communications Commission Chairman, Prof. Umar Danbatta, has applauded that the Telecom sector has achieved some remarkable milestones in the last eight years. He announced that the number of 5G subscribers in Nigeria has hit 500,00 and broadband penetration risen to 47.01% as of July 2023.
Danbatta revealed that the plan was to achieve 50% broadband penetration by the end of 2023, and 70% by the end of 2025. With the progressive report, it seems to be an attainable height for the country.
Speaking in Kano on the economic impact of this growth in telecom sector, Danbatta said;
“From 8 per cent contribution to the Gross Domestic Product in 2015, telecommunications sector now contributes 16 per cent quarterly to the Nigerian economy as of the second quarter of 2023.
“Besides, following the authorisation of more telecommunications companies to operate in the Nigeria’s telecoms sector, the investments profile has increased tremendously from $38bn in 2015 to $75bn currently and this keeps growing daily. From the sales of 5G C-Band Spectrum, the NCC has generated over $847.8m for the Federal Government.”
This progress is in sync with the Minister of Communications innovation and Digital Economy, Bosun Tijani’s call for stake holders collaboration to boost telecommunications connectivity in all parts of the country, including the unreachable.
Tijani said “connectivity is a catalyst for progress, and the country needed partnerships to close its digital divide.”
What is 5G network?
5G is the 5th generation mobile network. It is a new global wireless standard after 1G, 2G, 3G, and 4G networks. 5G enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices.
Unlike the previous generation networks; 3G, 3G, 4G and 4G lite, 5G
5G is a unified, more capable air interface. It has been designed with an extended capacity to enable next-generation user experiences, empower new deployment models and deliver new services.
With high speeds, superior reliability and negligible latency, 5G will expand the mobile ecosystem into new realms. 5G will impact every industry, making safer transportation, remote healthcare, precision agriculture, digitized logistics — and more — a reality.
Effect of 5G Network on Global Economy
5G is driving global growth with the following benefits:
• $13.1 Trillion dollars of global economic output
• 22.8 Million new jobs created
• $265B global 5G CAPEX and R&D annually over the next 15 years.
‘A landmark 5G Economy study, reveals that 5G’s full economic effect will likely be realized across the globe by 2035—supporting a wide range of industries and potentially enabling up to $13.1 trillion worth of goods and services.
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‘This impact is much greater than previous network generations. The development requirements of the new 5G network are also expanding beyond the traditional mobile networking players to industries such as the automotive industry.
‘The study also revealed that the 5G value chain (including OEMs, operators, content creators, app developers, and consumers) could alone support up to 22.8 million jobs, or more than one job for every person in Beijing, China. And there are many emerging and new applications that will still be defined in the future. Only time will tell what the full “5G effect” on the economy is going to be’.
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