Business
The rich country with the worst mobile-phone service
5G networks are fast. Their roll-out is not
(The Economist)
BRITAIN HAS long been a pioneer in telecoms. In 1837 it built the world’s first commercial telegraph; the first transatlantic call was placed from London in 1927; in 1992 a British programmer sent the first text message to a mobile phone.
Today it lags rather than leads. According to figures provided to The Economist by Opensignal, a research firm, Britain ranks 46th for download speeds out of the 56 developed and developing countries for which there are data (see chart).
That gives it the worst mobile service in the rich world. Some of this is due to demand. Over the past three years data usage on mobile devices has doubled as people stream films and play games.
The busiest parts of cities often lack mobile reception because the system is at capacity. But mainly it is an issue of supply.
British users of 5G—the fifth generation of networks, which offers speeds up to ten times faster than 4G—are only on it 11% of the time. That puts Britain 43rd out of the 56 countries.
This lacklustre performance is caused by a combination of government U-turns, insufficient investment and sclerotic planning.
First, the U-turns. Until 2020 Britain’s four mobile operators were enthusiastic buyers of 5G equipment manufactured by Huawei, a Chinese firm.
But after intense lobbying from America, Britain’s politicians reversed course: telecoms operators must now remove all their 5G Huawei equipment by 2027.
This has delayed 5G’s roll-out. The country’s four mobile providers—BT/EE, O2, Three and Vodafone—have spent about £2bn ($2.6bn) over the past four years ripping out and replacing Huawei equipment. Second, the need for more investment.
About 90% of Britain’s 5G signals are broadcast from bolt-ons to the existing 4G network.
This “non-stand-alone” version of 5G does not allow “network slicing”, a way to get greater capacity in congested areas, or the quick response times needed to communicate with new technologies such as self-driving cars.
A new “core network” using stand-alone technology must be installed to get the full benefits of 5G. But, according to Frontier Economics, a consultancy, the four mobile operators are likely to invest only about £9bn of the £22bn-32bn required.
A marriage might help. Vodafone and Three, the country’s third- and fourth-largest mobile operators, say they are too small to justify the high capital expenditure of stand-alone 5G, and that they would invest £11bn over a decade if they could merge.
Karen Egan of Enders Analysis, a consultancy, estimates that synergies would result in a 30% increase in network capacity.
The Competition and Markets Authority (CMA), a watchdog, is due to decide on the merger on December 7th; it has suggested that 5G investment would be a legally binding condition for a deal. Even if the CMA allows the merger, improving 5G network capacity means erecting more masts.
In 2022 the rules were loosened to permit masts less than 30 metres high to be built without having to seek planning permission. But operators still complain.
Shorter masts cover a smaller area, so more must be built. O2 says it takes at least six months to get a decision on a mast over 30 metres high; applications are often stymied by local opposition.
Overcoming these obstacles is vital for achieving the goal of universal 5G by 2030.
It will also be needed for the eventual roll-out of 6G. In laboratory environments the next generation of mobile networks has reportedly notched up speeds 100 times faster than 5G. Britain is anything but that.■
Urges Deeper Local Investments
President Bola Tinubu has commended corporate Nigeria, investors, and stakeholders in the capital market for propelling the Nigerian Exchange (NGX) beyond the historic ₦100 trillion market capitalisation threshold.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described the achievement as a “new economic reality and rejuvenation,” signalling strong investor confidence in Nigeria’s reforming economy.
“With the Nigerian Exchange crossing the historic N100 trillion mark, the country is witnessing the birth of a new economic reality,” President Tinubu said. He highlighted the NGX All-Share Index’s impressive 51.19% return in 2025 — outperforming the previous year’s 37.65% and ranking among the world’s top performers — even as many global markets faced stagnation.
The President noted year-to-date gains surpassing benchmarks like the S&P 500 and FTSE 100, positioning Nigeria as an attractive investment destination rather than a overlooked frontier market.
He praised resilient performances across sectors, from industrial giants localising supply chains to innovative banks, and anticipated further growth with upcoming listings in energy, tech, telecoms, and infrastructure.
President Tinubu linked the stock market’s success to broader reforms yielding macroeconomic stability. Inflation has declined for eight consecutive months, dropping from a peak of 34.8% in December 2024 to 14.45% in November 2025, with forecasts suggesting 12% in 2026 and potentially single digits by year-end.
Nigeria recorded a $16 billion current account surplus in 2024, projected to rise to $18.81 billion in 2026, driven by surging non-oil exports (up 48% to ₦9.2 trillion in Q3 2025) and manufacturing growth. Foreign reserves have exceeded $45 billion, with the naira stabilising and projections to surpass $50 billion in early 2026.
Infrastructure advances, including rail expansions, major highways like Lagos-Calabar and Sokoto-Badagry, and port revitalisation, were also highlighted, alongside improvements in healthcare, education loans via NELFUND, and research funding.
Urging Nigerians to invest more domestically, President Tinubu assured that “2026 will yield even greater returns” as reforms mature. He pledged continued efforts toward a transparent, egalitarian, high-growth economy, bolstered by tax and fiscal changes effective January 1, 2026.
“Nation-building is a process requiring hard work and focus. This ₦100 trillion milestone signals to the world that Nigeria’s economy is robust and productive,” he concluded.
Business
MTN’s 5G subscribers reach 15m
“We are proud to be the first telco to achieve over 82 percent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting,”
MTN Nigeria says that its 5G network, has reached an estimated 15 million subscribers across the country.
In a statement, the company linked the growth to its aggressive leadership in 4G/5G deployment and the accelerated rollout of its Fibre-to-the-Home (FTTH) network.
” We are proud to be the first telco to achieve over 82 percent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting,” the statement reads.
It added that the drive for connectivity is backed by significant capital spending, stressing that Capex, excluding leases, soared by 248.0% to N757.4 billion.
The firm said that this investment was strategically directed at capacity enhancement to reduce congestion and to deliver ultra-fast broadband to households through FTTH.“Demand for data remains robust, driving a 36.3% YoY increase in data traffic, with average usage per subscriber rising by 20.8% to 13.2GB.
Business
China-Nigeria bilateral trade hits $22.3bn in 2025
“From January to October 2025, bilateral trade exceeded $22.3 billion; this represented a 30.2 percent year-on-year increase,” Yuqing said.
• Consul General of the People’s Republic of China in Lagos, YAN Yuqing
Chinese Consul-General in Lagos, Ms Yan Yuqing, had said China-Nigeria bilateral trade exceeded $22.3 billion between January and October 2025.
Yuqing disclosed this at the Lagos Forum New Year Media Symposium, where she reviewed bilateral relations and outlined prospects for deeper cooperation in 2026
.“Over the past year, China-Nigeria economic and trade cooperation has shown great vitality and strong momentum.
Over the past year, China-Nigeria economic and trade cooperation has shown great vitality and strong momentum.
“From January to October 2025, bilateral trade exceeded $22.3 billion; this represented a 30.2 percent year-on-year increase,” Yuqing said.
She said Nigeria had remained one of China’s major investment destinations in Africa for many consecutive years.
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