| Mobile Money and Telcos |    1423 VIEWS  |
| Mobile Money and Telcos | |
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Wednesday, November 11, 2020 / 01:55
PM / by NCC / Header Image Credit: The Conversation
The Nigerian Communications Commission has a clear
ambition to ensure that the Digital Economy Policy of the Federal Government is
accomplished and one of the instruments for the realization of this Policy is
the availability of a robust information and communication network in the
country. The Commission having identified the unique benefits and the role 5G
can play in accomplishing the objectives of the digital economy, has outlined a
Plan that will facilitate the deployment of 5G Technology in Nigeria. The 5G
communication technology is the next evolution of the mobile communications
technology which is capable of creating new opportunities for growth in the
economy by enabling new and dynamic business models and opening up new
opportunities and markets. It also provides tremendous improvements in
interpersonal communications with several innovations and services.
5G Technology will initiate several new changes in
mobile connectivity with an enormous capacity to boost productivity and grow
the economy. These are the key reasons behind the Commissions drive to ensure
the deployment of 5G in Nigeria. Mobile technology has not stopped growing
since the commercial implementation of the first telephone system in 1876. It
is estimated that by the end of the year 2020, global mobile data traffic would
reach a monthly rate of 30.6 exabytes, as compared to 3.7 exabytes in 2015.
That is a compound annual growth rate of 53%. Each mobile communications
technology brings with it, new capabilities that ultimately transform both work
and interpersonal communications.
5G represents the fifth generation in mobile
communications evolution and an incremental deployment is expected over the
following decade. 5G is designed to be a system of systems that will bring
flexibility to mobile, fixed and broadcast networks and support more extensive
data requirements. The technology will impact on the way interactions are done
by enabling in some cases unforeseen business models, enhanced lifestyles all
resulting in increased productivity. Some of the technologies already being
touted include automated cars and advanced manufacturing, Internet of things
(IoT) which will enable thousands of connected devices, such as smart energy
meters, work together and share information. These changes and innovation have
enormous economic benefits. IHS Economics estimated that 5G would enable
USD$12.3 trillion of global economic output in 2035.
This document outlines strategy that will enable the
deployment of 5G Technology in such a manner that will be most beneficial to
the Nation and the end users.
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