General News
Over 1Bn Subscribers Benefit from Ericsson’s Managed Services
In an increasingly Networked Society, a growing number of devices are expected to use broadband connections to deliver a wide array of rich communication and multimedia services, anytime, anywhere.
Even more advanced network solutions are required to meet the demand for superior performance, and the natural solution for operators is to sign managed services contracts with partners that assume responsibility for activities such as operating and managing their networks.
As the world’s leading provider of communications technology and services, Ericsson pioneered managed services for telecom and continues to be the frontrunner in this area.
With well over 15 years of experience in managing multi-vendor, multi-technology networks, Ericsson industrialized the concept of delivering managed services for multiple operators through outstanding Global Service Centers and a strong field service organization.
Ericsson is also the leader in Africa for Managed Services, a position that was strengthened earlier this year when it was announced that Atlantique Telecom, part of Etisalat Group, awarded Ericsson a 5-year multi-country managed services contract to span the continent.
This partnership spreads across Western and Central Africa and supports Etisalat’s focus on leading a new generation of operations in Africa while supporting the company’s value added services and offerings.
Network operations have traditionally been central to the business of providing communications services. During the past decade, however, this has changed. In an age that has seen the introduction of 3G, LTE (4G) and other great innovations, many operators have chosen to appoint a vendor to manage either the new technology or the legacy technology. To stand out from the competition, operators need to focus on finding new ways of driving business innovation and improving quality of experience for their customers.
In order to achieve these goals, Ericsson is pioneering the development of the Experience Centric Managed Services model, which offers operators benefits such as continuous service improvement, reduced time to market, access to technical competence, and a shared focus on user experience. The end result is satisfied users, lower subscriber churn rates, higher average revenue per user and a more cost-efficient operation.
Magnus Mandersson, executive vice president and head of Business Unit Global Services, says: “We’re very proud to have passed the 1 billion subscriber milestone, as this confirms our leadership in managed services. We achieved this goal by earning the trust of our customers with our high-performance operations and processes and our skilled people, which are at the heart of Ericsson’s services business.
This milestone is just one of many on the journey we have undertaken. The next step is to make the transition from traditional managed services to Experience Centric Managed Services.”
To achieve global scale, Ericsson has invested more than USD 1 billion in tools, methods and processes for service delivery and established Global Service Centers in Romania, Mexico, India and China to deliver managed services remotely for a large number of networks across the globe.
Managed services are about people and competence, and over the years more than 25,000 employees have transferred to Ericsson from operators around the world. Ericsson is continuously looking for new ways to help its customers put their customers first. We believe that – in addition to enhancing innovation, agility and speed – managed services can enable operators to focus on specialization and place a greater emphasis on user experience and customer relationships.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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