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MTN Nigeria and Airtel Nigeria are the only mobile network operators that have launched 5G services in Nigeria. The companies have rolled out 5G in these 8 states - Lagos, Abuja, Port Harcourt, Ibadan, Ogun, Kano, Owerri, and Maiduguri, and plan to expand 5G coverage to other states in the future. In Q1 2024, the telecommunications sector in ...
The history of Internet in Nigeria started with the provision of limited E-mail service in 1991, and in July 1995 the Regional Information Network of Africa (RINAF) in collaboration with Rose Clayton Nigeria Limited provided internet service at the computer science department of Yaba College of Technology through the (Nigerian Postal Service (NIPOST)).
However, operationally, it was still inefficient, the lines were congested, the billing system was inefficient and the call completion rate for long-distance calls was below 50%. [7] When new private telephone services emerged in Lagos during the 1990s, many of them depended on an unreliable NITEL for inter-connectivity services. [ 1 ]
As of February 2023, GLO has over 60.7 million subscribers, making it the second largest network operator in Nigeria. [3]In 2011, GLO became the first telecommunication company to build an $800 million high-capacity fibre-optic cable known as Glo-1, a submarine cable from the United Kingdom to Nigeria. [4]
On the other hand, funds equivalent to the face value of the treasury bills is moved from the account of the lender to the borrower's current account with the Central Bank of Nigeria. This product offers flexibility, but with interest rate and bank stability risk. It is a product for short-term liquidity.
The NCC was created under Decree number 75 by the Federal Military Government of Ibrahim Babangida in Nigeria on 24 November 1992. The NCC was charged with the responsibility of regulating the supply of telecommunications services and facilities, promoting competition, and setting performance standards for telephone services in Nigeria.
The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, the CBN increased key interest rate six times, rising from 6.25% to 12%. On 31 January 2012, the CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to a reduction in fuel subsidies. [14]
Nigeria's inflation rate rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced on January 17, 2022. The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020.