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Glo, MTN Pay Musicians N9Bn from Caller Tunes

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MTN Nigeria and Globacom,  two biggest mobile telecommunication operators in the country, generated over N9 billion for the local music industry in 2014 through the monetisation of caller tunes, according to the Punch.

While MTN generated over N5bn for the Nigerian musical artistes who sell their contents as caller tunes on its platform, Globacom is said to have brought in about N4bn.

The money generated for the industry was in form of royalties paid to music artistes who served or are still serving as brand ambassadors to the two telecoms companies in the year.

The Glo music ambassadors, whose contracts were recently renewed, are Nigeria’s leading music stars, Peter and Paul Okoye (PSquare), Oladapo Oyebanjo (D’Banj), Chinedu Okoli (Flavour), Jude Abaga (M. I.), Oluwatobi Ojosipe (Wande Coal), Omawumi Megbele, Bez Idakula, Burna Ogulu (Burna Boy), Ego Ogbaro and Sammie Okposo.

Globacom also signed on hip hop sensation, Ayodeji Balogun, popularly known as Wizkid, after he terminated his contract with MTN. It also signed on the Mavin crew of Koredo Bello, Reekado Banks and Hadizah Blell (Di’ja).

However, the leader of the Mavin Group, Michael Ajereh (Don Jazzy) leads other music artistes on the MTN network. He is joined by Tiwa Savage, Sidney Esiri (Dr. Sid), Olanrewaju Fasasi (Sound Sultan), Iyanya Mbuk, Chidinma Ekile, Bankole Williams (Banky W), Kingsley Okonkwo (KCee) and David Adeleke (Davido).

MTN also recently signed on the visually impaired music artiste and producer, Cobhams Asuquo.

Our correspondent obtained the figures from the telecommunications companies on Wednesday, amid plans to announce an on-demand music service.

An employee in the Corporate Affairs Division of Globacom, who pleaded anonymity, said that apart from paying “about N4bn in form of royalties to Glo music ambassadors, Glo plans to lead the music streaming business in the future, which valuation is estimated to be about $8.5bn (N1.7tn).”

He said Globacom’s interest in the music streaming business might be due to the decline in digital download business, adding, “The streaming business is projected to grow at almost 40 per cent annually and will probably be over $2bn (N393bn) business in 2016.”

It was gathered that the new and rising stream of revenue for the telecoms firms might have accounted for the recent scramble for top music artistes in the country by both Globacom and MTN.

While MTN declined to renew the contracts of some of its music brand ambassadors last month, Globacom quickly poached them with higher bids.

However, aside the over N5bn generated for the music industry, MTN said the brand ambassadorship, appearances and performances fees made for the artistes amounted to over N500m.

“MTN has invested more than N1bn in talent discovery and development through the Project Fame sponsorship platform,” the company’s General Manager, Corporate Affairs, Miss Funmi Onajide, said.

“The recent rebasing of the country’s Gross Domestic Product puts the contributions of the entertainment/music sector at $7bn (N1.4tn) of the total value of $510bn (N100.4tn). This represents 3.7 per cent contributions to the total GDP growth,” she added.

According to her, MTN’s leadership contribution in the sector has impacted positively on the lives of Nigerian creative talents.

Onajide stated that beyond music, “MTN has also made significant investments, partnerships and contributions to helping to address distribution and monetisation challenges of other creative talents.”

Per Sundin, Managing Director, Universal Music, Sweden had in December 2013 urged telecoms firms in Nigeria to take to streaming the contents of their music ambassadors “rather than just serving as ring tones.”

“I am 100 per cent sure that this is the future. Streaming services will be the next step for global music consumption,” he had said.


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Techy Accountants in partnership with ACCA Host AccounTech Summit to Empower Finance Professionals

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The AccounTech Summit, hosted by The Techy Accountant in partnership with the Association of Chartered Certified Accountants (ACCA), is a groundbreaking event designed to navigate the evolving landscape of the finance industry in the digital era.

Techy accountant

Recognizing the critical need for finance professionals to adapt to technological advancements and emerging trends, this summit is a driving force for innovation, transformation, and progress.

The event is set to take place as follows:

Date: August 15th, 2024,

Location: Radisson Blu Anchorage Hotel in Lagos, Victoria Island, Nigeria.

Time: 9:00 A.M

The summit aims to celebrate achievements in the finance sector, support entrepreneurship ventures, and enlighten participants on industry challenges and opportunities. With a focus on bridging the employability gap and promoting high-quality skill development in finance, the summit aims to address the evolving landscape of the industry in the digital age.

Over the past six years, The Techy Accountant has graduated over 1000 finance professionals and trained more than 5000 individuals worldwide.

Event Highlights

The one-day event will bring together over 200 attendees, including finance professionals, entrepreneurs, policymakers, academics, and Techies.

Attendees can expect a day of immersive learning and collaboration, culminating in an award and grant ceremony. Event Highlights include keynote sessions, interactive workshops, panel discussions, and networking opportunities, all centred around the theme “Emerging Tech in Accounting & Finance – A Game Changer.”

Commenting on the summit, Mrs. Toyin Olufon, Founder of The Techy Accountant stated, “We believe in equipping finance professionals with the skills needed to thrive in a rapidly changing industry”.

Commenting on the collaboration, Mopelola Jatto, CFA, Regional Head, ACCA Nigeria remarked, “Partnering with The Techy Accountant underscores our commitment to fostering innovation and driving excellence in the finance profession. Together, we aim to equip professionals with the skills and knowledge required to thrive in the digital age.”

TO REGISTER, VISIT: https://thetechyaccountant.org/event/the-techy-accountants-account-tech-summit-2024


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NASENI, Nasarawa State, Firm to Establish Tractor Manufacturing Plant in North-Central Geo-political Zone

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National Agency for Science and Engineering Infrastructure (NASENI) is set to collaborate with Nasarawa state government and Bobtrack Tractors, a division of Saint Bob Motors Limited to start the manufacturing and assembling of tractors in the north-central geo-political zone.

Left to Right: The Chief Executive Officer, Bob Track Ltd, Mr. Ibifiri A.C Bob Manuel; the Executive Vice Chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu; the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule, and Mr. Jerry of Bob Track Ltd, during a courtesy visit at NASENI Headquarters on Monday, April 22nd, 2024.

The facilities and infrastructure available at one of NASENI’s Institutes, Agricultural Machinery and Equipment Development Institute (AMEDI), Lafia, Nasarawa state will be used for assembling and manufacturing of the tractors.

According to the Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu, the project which is aimed at creating wealth and jobs for Nigerian youths is in line with President Tinubu’s Renewed Hope Agenda of ensuring food security and promotion of mechanized farming and agro-business in the country. Halilu disclosed this when the Executive Governor of Nasarawa State, Engr. Abdulahi A. Sule led a delegation comprising of Bob Track Tractors to pay a visit to the Agency’s headquarters in Abuja on Monday, April 22nd, 2024.

Mr. Halilu who assured Governor Sule and the delegation of NASENI’s readiness to do business with them, said, “the Agency is willing to partner with you and sign the memorandum of understanding (MoU) so that in the next couple of weeks we will move into action.”

He disclosed that Mr. President had recognized NASENI as a national brand and its National Tractor Recovery Programme wherein 55,000 tractors would be refurbished for mechanized farming nationwide.

In his remarks, Governor Sule said, he aligned with NASENI’s vision of collaborating and promoting made-in-Nigeria goods and also believed that government’s role is to provide a level playing field necessary for businesses to thrive.

The objective of his visit, he said, was to introduce the Bob Track Tractors which deals in assembling and manufacturing of tractor and farm implements with offices in Port Harcourt to NASENI so that it could utilize the existing facilities at AMEDI, Lafia for assembling of tractors instead of acquiring a new land for the business.

The CEO of Bob Track Tractors, Mr. Ibifiri A.C. Bob Manuel said, “We are ready to take up the facility that you have in Nasarawa State, create employment and wealth for the youths in the area and also use it as a hub to drive mechanized agricultural vision of the present administration. We are willing to invest in Nasarawa state with help of His Excellency, his team and NASENI.”


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ARISE News Channel Goes Live in SA, 9 Other Southern African Countries

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ARISE News Channel, Africa’s premier broadcaster, has announced its expansion into South Africa and nine other Southern African countries.

ARISE News Channel Goes Live in SA, 9 Other Southern African Countries

The channel is now available on Multichoice/DSTV Channel 416 in South Africa, Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia, and Zimbabwe.

With this expansion, ARISE News Channel is now live in 54 African countries, including Kenya, Tanzania, Rwanda, Uganda, Cameroon, Sudan, Ghana, Senegal, and Cote d’Ivoire, among others.

Celebrating its 11th anniversary on January 31, ARISE News Channel continues to showcase Africa’s diversity in business, politics, technology, commerce, science, sports, show business, and fashion, while projecting the best of Africa and its cultures globally.

Nduka Obaigbena, chairman and editor-in-chief of ARISE News Channel,, expressed determination to launch the channel in all countries worldwide, stating, “The move to Southern Africa reaffirms ARISE News Channel’s position as the leading broadcaster in Africa with independence and clear thinking. We are determined to celebrate the best of Africa and tell the African story in the global marketplace.”

He added, “We shall continually showcase the emerging African century where Nigeria and other African countries will be some of the leading economies around the world. This is a marathon and not a dash: we will do for Nigeria and Africa what the CNN, the BBCs, and Aljazeeras have done for their nations and regions. In the emerging African AI- driven new information highway, no one will shape your narrative better than you.”


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