Telecom
Operators Say Funding, Others Hamper ICT Development in Nigeria
Telecommunications operators in the country have said that funding is the biggest challenge they face in their efforts to ensure increased access and affordability of telecommunications services in the country.
According to them, right funding for the development of transmission infrastructure which is necessary for increased access and affordability of telecom services is lacking in the country.
Ikechukwu Nnamani, chief executive officer, Medallon Communications, a data centre operator, told Nigeria CommunicationsWeek that the biggest challenge in information and communications technology today is right funding.
“It has been identified that cost of leasing transmission infrastructure in the country is very high because of the fact that operators that built these transmission infrastructure have borrowed money with high interest rate and will have to pay back in record time.
Banks in the country charges interest rate of 35 percent. How can you borrow money with 35 percent interest rate to execute a long term project and still charge reasonable cost? They have no option than to charge high to enable them to have quick return on investment.
“More so, ‘Right of Way’ issues as we are witnessing today is also tied to right funding.
He said that since the country does not have venture capital firms that can fund long term capital projects, “our best alternative is for the federal government to borrow money to finance the building of telecommunications transmission infrastructure that operators can lease to deliver services at cheaper cost as well as reliable.
“Since government can borrow money to finance railway project which is long term project that helps to ease means of transportation at reduced cost, it is not out of place to extend same to ICT development knowing that availability of telecommunications services has a wide range of positive impact on the economy.
“Today we complain of impediments to broadband penetration, inability to reach 30 percent target. Even where we have access, reliability is a problem due to high cost of backbone infrastructure. Federal government needs to come out with right funding mechanism to address these problems,” he stated.
Mohammed Rudman, managing director, Internet Exchange Point of Nigeria, IXPN, said that the issue of right of way has been there for a very long time and that the best solution to the problem is for all the various stakeholders to come together.
“All the right actors should come together. As it is today the industry is a bit fragmented, we need to really come together, have a strong voice and ensure that the highest authority in the country is aware of the current situation and propose solutions to the problem.
“For instance, the president of Nigeria should be aware of these inconsistences in the prices of right of way that the telecommunications operators in Nigeria are facing in various states and it should be address at Federal Executive Council.
“They need to approve a common rate across all the states and the states should be in agreement with the presidency and if the presidency wants to do this I think it is possible for them to push the states to agree certain conditions.
“Not only right of way, there are constant bottle necks in terms of regulations just to boost internally generated revenue for the states, there are various kinds of regulations. As at the last time I checked there are 38 different levies and taxes on telecommunications operators across the federal, states and local government areas.
“This is huge. It doesn’t make sense. What should happen is for each state to possibly harmonize and get under one ministry where all the telecommunications related taxes and regulations can be pursued and be paid their instead going to various ministries departments and agencies,” he added.
In a strategic move to deepen its presence in emerging economies, global cryptocurrency exchange MEXC has launched peer-to-peer (P2P) trading support for three new fiat currencies — the Nigerian Naira (NGN), Ethiopian Birr (ETB), and Pakistani Rupee (PKR). This expansion reflects the company’s increasing focus on localising crypto access in high-growth, underbanked regions.
The addition of NGN, ETB, and PKR to MEXC’s P2P platform enables users in Nigeria, Ethiopia, and Pakistan to trade major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) directly with their local currencies.
The trades come with zero transaction fees, in line with MEXC’s strategy to lower entry barriers for users and encourage grassroots participation in the digital asset economy.
The update is more than a technical expansion — it underscores MEXC’s recognition of Africa and South Asia as rising crypto frontiers. Nigeria, often cited as one of the world’s fastest-growing crypto markets, and Ethiopia, where digital finance is beginning to surge amid reforms, represent key territories for crypto adoption. Similarly, Pakistan’s growing youth population and fintech appetite offer strong potential for crypto-enabled financial inclusion.
To support the rollout, MEXC is actively onboarding new merchants to its P2P platform. Merchants benefit from zero transaction fees, dedicated customer support, a special verification badge, and invitations to exclusive community events. The goal is to nurture a local network of verified sellers and buyers who can facilitate seamless and trusted crypto trades.
P2P trading — which allows users to transact directly without third-party intermediaries — is especially relevant in markets where banking infrastructure is either insufficient or heavily regulated. By bypassing traditional systems, P2P provides a lifeline for users seeking stablecoins, alternative stores of value, or more flexible remittance solutions.
This latest expansion signals MEXC’s intent to compete aggressively for market share in underserved territories while enabling more users to access and benefit from Web3 technologies. As global exchanges race to localise their services, MEXC’s early moves into fiat integration may prove pivotal in shaping the next wave of crypto adoption across the Global South.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
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