How 5G Technology Will Boost Fintech In Nigeria – Danbatta
TECHDIGEST – The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said that e-commerce platforms and fintech in Nigeria would benefit immensely from 5G technology once deployed.
According to him, Small and Medium Enterprises (SMEs), especially fintech and e-commerce firms, are currently expanding the digital ecosystem in Nigeria by riding on telecoms infrastructure, which is being improved upon through the deployment of new technologies.
The NCC boss notes that ongoing efforts to deepen broadband penetration and the planned deployment of 5G will further boost the services of digital SMEs.
Speaking at a Telecoms Leadership Summit held in Lagos, Danbatta said: “Digital services and contents being provided by SMEs, especially fintech and e-commerce firms, will leverage broadband infrastructure and the upcoming deployment of Fifth Generation (5G) network being driven by the Commission to deliver more innovative and high-quality experiences to consumers.”
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“The Commission’s successful auction and licensing of the 3.5GHz spectrum licenses in the last quarter of 2021 for the deployment of 5G technology is set to create many opportunities for the development of the industry, and as a regulator, we are conversant with the fact that a dynamic regulatory environment is needed to sustain this industry growth,” Danbatta added.
He said the NCC would continue to diligently pursue the implementation of policy frameworks such as the Nigeria National Broadband Plan (NNBP) 2020-2025; and the National Digital Economy Policy and Strategy (NDEPS) 2020-2030, which are consistent with NCC’s regulatory interventions such as the Commission’s Strategic Management Plan (SMP), 2020-2024 and Strategic Vision Plan (SVP), 2021-2025, among others.
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The NCC boss added that all the policy and regulatory frameworks principally seek to provide a platform for Nigerian citizens to engage in innovative developments for the telecoms industry and improve the nation’s ability to compete in the ever-competitive global space.
Source: Nairametric
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