The fifth-generation network, popularly known as 5G technology, which Nigeria would introduce next month will create $13.2 trillion in the global economy by 2030, create 22 million jobs, and add $1.3 trillion to global gross domestic product (GDP), by 2030
This disclosure was made by the Managing director of New Horizon, Nigeria, Mr. Tim Akano, at the eWorld Froum’22 and the launch of the book, “Nigeria Drivers of Digital Prosperity”, in Lagos.
The Book written by Aaron Ukodie was launched alongside a conference that focused on 4G, 5G, Broadband Connectivity, and the Economy. The conference was put together by eWorld News Media, and published by Ajomedia Limited.
Akano also said that about 125 billion Internet of Things ( IoT) would be connected by the year 2030.
The Internet of Things (IoT) is generally described as the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools
He added that each person, who subscribes to the emerging technology, applications, and services that would result from it would own 15 connected devices.
Akano, who graphically narrated the evolution of the 5G technology said the first networks were connected in Chicago and South Korea connected smartphones to the 5G network in April 2019.
He reiterated the benefits of 5G to Nigerians, which include faster data rates, higher connection density, better battery consumption, improved overall wireless coverage and a speed of 35.46 Gbps which is 35x faster than 4G.
In May this year, the Nigerian Communications Commission (NCC) issued of the final letters of award of the Fifth Generation (5G) Spectrum Licences to MTN and Mafab Communications, winners of the 3.5GHz spectrum auction conducted by the Commission on Monday, December 13, 2021. May 2022
Recently, NCC and MTN Nigeria announced that 5G services will begin to roll out from August 24, 2022.
