NACCIMA Lauds FG Approval Of 5G Network

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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has hailed the approval of the Fifth Generation Network, commonly referred to as 5G technology, by the Federal Executive Council (FEC).

The Chamber said the approval was indeed, “A reflection of the Federal Government’s commitment to the growth and development of the telecoms sector and digital economy in general.” The body, however, said this should be done in collaboration with the private sector.

NACCIMA Director-General Ambassador Ayoola Olukanni in a statement over the weekend, stated that the 5G network in which the telecoms firms will also play a crucial role that will expand business opportunities for young tech entrepreneurs.

“This is because they (tech entrepreneurs) have demonstrated the capacity to leverage technology to create innovative businesses and start-ups in the area of Financial Technology (Fintech), agric-tech and smart-apps for farming services, creativity and entertainment and other sectors of the economy,” he said.

Olukanni said it was also worthy of note that the 5G network will not only contribute to the growth of the Nigerian economy, but will help to boost education, activities in the health sector as well as assist the nation’s security outfits to combat crimes, banditry and kidnapping in different parts of the country.

He also said NACCIMA was delighted that the 5G policy, which is a component part of the 2020-2025 National Broadband Plan, was now coming on stream. “The Association is, therefore, calling for full integration of the private sector in the implementation of that National Broadband Plan designed for expansion of the digital economy,” Olukanni said.

The NACCIMA boss stated that the current NACCIMA administration, led by its National President, Ide J. Udeagbala, has made harnessing of Information and Communication Technology (ICT) one of its priorities and is therefore ready to work with all stakeholders.

“This is to ensure that the new 5G policy and the National Broadband Plan truly become a platform to scale up business opportunities especially for young people who see several opportunities in it and have decided to embrace tech entrepreneurship as a way out of unemployment,” he explained.

Amb. Olukanni said with the 5G policy, Nigeria has truly taken a major step forward to significantly improve its digital infrastructure and the private sector must be given a key role to play to fully harness the potentials.