Nigeria News (Standard)
Nigeria Eyes Broader 5G Rollout as Global Subscriptions Hit 3.1 Billion
Telecoms sector in Africa expected to expand adoption, with Nigerian operators citing economic benefits and digital inclusion
Telecoms sector in Africa expected to expand adoption, with Nigerian operators citing economic benefits and digital inclusion
Global subscriptions to fifth-generation (5G) mobile networks have reached 3.1 billion, with Nigeria and other African countries intensifying efforts towards broader adoption of the technology. This milestone was highlighted in a recent industry report released on Tuesday, which showed significant growth in mobile broadband worldwide.
According to the findings, while North America, Europe and parts of Asia remain the largest markets for 5G services, Africa is now focusing on bridging the gap through improved infrastructure and regulatory support. In Nigeria, major telecom operators are increasing investments in network upgrades, aiming to boost connectivity in urban centres like Lagos and Abuja, as well as underserved rural areas.
The report emphasised that wider 5G deployment could deliver major economic benefits across Nigeria and the continent, especially in key sectors such as fintech, e-commerce and health. “Broader access to high-speed internet will strengthen digital inclusion and help drive innovation in Nigeria’s economy,” the document noted. However, it also pointed out challenges including limited spectrum availability and high deployment costs facing African operators.
Industry stakeholders say government support is crucial for accelerating 5G adoption. A senior executive at one of Nigeria’s largest telecom firms said: “We are ready to scale up our infrastructure if the right policies are in place.” The executive added that public-private partnerships could help address funding gaps and speed up rollout across all states.
With global figures showing sustained growth in mobile broadband usage, experts predict that Africa’s share of the 5G market will continue rising over the next five years. Nigerian regulators are expected to announce new guidelines soon to facilitate further investments by telecoms companies.
Nigeria News (Standard)
Abuja Court Dismisses Yahaya Bello’s Attempt to Halt ₦110bn Fraud Trial
Former Kogi governor’s legal challenge fails as Federal High Court rules EFCC can proceed with prosecution
Former Kogi governor’s legal challenge fails as Federal High Court rules EFCC can proceed with prosecution
A Federal High Court sitting in Abuja on Tuesday dismissed the bid by former Governor of Kogi State, Yahaya Bello, to stop his ongoing fraud trial involving allegations of ₦110 billion misappropriation. The ruling paves the way for the Economic and Financial Crimes Commission (EFCC) to continue its prosecution against Bello, who served two terms as governor under the All Progressives Congress (APC).
The court delivered its judgment after hearing arguments from both Bello’s legal team and counsel representing the EFCC. The former governor had filed a motion seeking to restrain the anti-graft agency from proceeding with criminal charges over alleged diversion of state funds. However, the presiding judge held that Bello’s application lacked merit and declined to grant any order stopping the trial.
This development marks a significant point in ongoing efforts to hold high-profile political figures accountable for corruption allegations in Nigeria. Bello, who left office earlier this year, has consistently denied any wrongdoing and insists that the charges are politically motivated. The EFCC, on its part, maintains that it has gathered sufficient evidence to support its claims of financial impropriety during Bello’s tenure.
In reaction to the ruling, officials from the EFCC welcomed the court’s decision as a victory for due process and the rule of law. They reiterated their commitment to pursuing all cases of alleged corruption regardless of an individual’s political status. Attempts to reach representatives from Yahaya Bello’s camp for comment were unsuccessful as at press time.
The case is expected to proceed with substantive hearings in the coming weeks. Legal analysts say the outcome could have wider implications for anti-corruption enforcement involving former public office holders across Nigeria.
Nigeria News (Standard)
IMF Warns Surge in Stablecoin Transactions Could Weaken Naira Demand in Nigeria
International lender says increased use of digital currencies may undermine monetary policy and financial stability
International lender says increased use of digital currencies may undermine monetary policy and financial stability
The International Monetary Fund (IMF) has raised concerns that the growing adoption of stablecoins within Nigeria could further erode demand for the naira, posing risks to both monetary policy and financial stability. The warning was issued on Tuesday in Abuja, as the IMF assessed the implications of digital currency trends in the country.
According to the IMF, as more Nigerians turn to stablecoins—digital currencies pegged to assets like the US dollar—there is a risk that traditional reliance on the naira for transactions may decline. The lender noted that this shift could make it more difficult for the Central Bank of Nigeria (CBN) to manage inflation and exchange rates effectively.
The IMF’s caution comes amid continued volatility in the value of the naira, which has faced pressure due to foreign exchange scarcity and persistent inflation. Many Nigerians have increasingly adopted digital assets for remittances, savings, and cross-border payments, a trend that has accelerated as confidence in fiat currency wavers.
The international body called on Nigerian authorities to strengthen regulatory oversight of digital assets and ensure that financial innovations do not undermine macroeconomic stability. “Increased stablecoin usage could weaken demand for local currency, complicating efforts to maintain price stability,” an IMF official said during a press briefing in Abuja.
It remains unclear how quickly stablecoin adoption will spread across sectors, but analysts say continued monitoring is necessary. The CBN has yet to issue a formal response to the IMF’s remarks. Financial sector experts warn that if unchecked, rising digital currency use could further impact naira liquidity and limit government’s ability to steer economic outcomes.
Nigeria News (Standard)
Dangote Refinery Reduces Petrol Depot Price to ₦1,175 in Lagos as Global Oil Prices Fall
Marketers expected to review pump prices after Dangote’s ₦75 cut, citing easing Middle East tensions
Marketers expected to review pump prices after Dangote’s ₦75 cut, citing easing Middle East tensions
Dangote Petroleum Refinery has announced a reduction in its ex-depot price of Premium Motor Spirit (PMS), commonly called petrol, from ₦1,250 to ₦1,175 per litre effective Sunday, 16 June 2026. The price adjustment, which took effect at the refinery’s facility in Lagos, comes amid a recent decline in global crude oil prices following improved geopolitical stability in the Middle East.
The company stated that the ₦75 per litre reduction was prompted by the resolution of tensions between the United States and Iran and the planned reopening of the Strait of Hormuz—a key route for international oil shipments. This development has eased fears of supply disruptions that had previously driven up energy prices globally and affected domestic fuel costs.
In a notice to marketers on Sunday, Dangote Refinery explained that its decision to lower the depot price was directly linked to these international events. The refinery also confirmed a downward review of its coastal loading price from ₦1,595,790 per metric tonne to ₦1,495,215 per metric tonne. All outstanding unloaded gantry volumes will be repriced at the new rates from the date of implementation.
Industry experts said the move could provide relief for motorists and businesses nationwide if marketers pass on the savings through lower pump prices at filling stations. However, actual reductions at retail outlets may depend on how quickly existing stocks—purchased at higher rates—are depleted and replaced by petrol bought at Dangote’s new ex-depot rate. The ex-depot price refers to what marketers pay before adding transportation and retail margins.
The Nigerian downstream petroleum sector has witnessed significant volatility in recent months due to fluctuations in crude oil prices and persistent security challenges affecting supply routes. Dangote Refinery’s latest action highlights its growing influence within Nigeria’s deregulated fuel market, where major suppliers now play a central role in shaping pricing trends nationwide.
Abuja Court Dismisses Yahaya Bello’s Attempt to Halt ₦110bn Fraud Trial
IMF Warns Surge in Stablecoin Transactions Could Weaken Naira Demand in Nigeria
Dangote Refinery Reduces Petrol Depot Price to ₦1,175 in Lagos as Global Oil Prices Fall
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