Watch Out For Businesses That’ll Shape Nigerian Economy in 2022

In 2022, all eyes will be on many Nigerian businessmen and corporate organisations whose decisions in the preceding year will greatly impact the country. The year 2021 saw major mergers and acquisitions involving quoted companies which operations will have significant impact on the economy.

Aliko Dangote/Dangote Refinery

Africa’s richest man, Aliko Dangote, will expectedly be of much influence on Nigeria’s economic scene this year. This is the year that the 650,000 b/d Dangote Refinery will begin production.

Dangote Refinery will fill a large vacuum in Nigeria’s products market that authorities hope will help stabilise the local supply of refined oil products. This will surely help to stop the country’s dependence on imported refined products. In doing this, it will help reduce Nigeria’s perennial foreign exchange (forex) crisis which is due in part to the huge amounts spent on the importation of refined petroleum products.

Karl Tariola/MTN and Mafab to deploy 5G

MTN Nigerian was awarded a 5G license in 2021, paving the way for the continent’s largest wireless carrier to supply faster internet to consumers and businesses.

In line with the objectives of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030 for a Digital Nigeria and the positioning of the country as an early adopter of digital technology in the growing global digital economy, the successful and timely deployment of 5G is crucial.

5G is expected to facilitate several emerging technologies, generate innovative use cases, spur significant socio-economic growth and create jobs.

It will be critical because it will enable unprecedented levels of connectivity, upgrading 4G networks with five key functional drivers: superfast broadband, ultra-reliable low latency communication, massive machine-type communications, high reliability/availability and efficient energy usage.

Like MTN Nigeria, Mafab Communication will be one of the companies to watch in 2002 Led by Musbahu Muhammad Bashir as chairman, Mafab emerged on the scene to snatch one of the two 5G licences.

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