General News
eStream will Bring Real 4G Services to Nigerians – Ogungboye
Muyiwa Ogungboye is the managing director of e.Stream Network, an internet service provider.
He spoke to chike onwuegbuchi on issues around e.Stream Network’s decade of service delivery in Nigeria as well as it expansion plan to other cities with LTE technology.
eStream 10 Years of Operation
eStream was founded on March 2006, so, we have clocked 10 years old. As an entrepreneur that saw a problem in the country in terms of connectivity and providing a solution to it, that was how eStream was formed.
We started with VSat as means of communications. Ten years ago, the fiber network in Nigeria was limited, radio connectivity was also limited. Mainly, satellite was the choice. As years go-bye we found that there was a need for us to start incorporating newer technologies in our network.
To that end, we have put in fiber and radio. We still have satellite running up to date.
Actually, over the past ten years, it has been challenging. The situations in the country are such that dollar has never been stable, all the equipment are bought from abroad, government regulations have been tough with accruable multiple taxation. Accessing funds from the banks is another major bottleneck we encounter in as we pursue growth. In all, we have been able to weather the storms.
Generally, I will say that it was the urge to solve problems in the country that manifested in having eStream come to live. We also want a situation that indigenous companies can be perceived as capable of executing, even better projects, what Americans and Europeans are doing for us. So, during the course of our ten years, we also obtained our certification on quality management. I think we got that ISO:1900 certification when we clocked seven (7) years.
The whole idea is to prove to the outside world that there are some indigenous companies that can do it in the right way. Corporate governance is something we hold very seriously in this organization. Quality is also something we don’t play with. In all, it has been challenging and interesting in the life of the company.
Moving forward, we intend to expand our network on fiber and especially on radio. There are some sub-marine cables that have come into the country, but the problem is distribution. It is a factor to induce results in the sector.
Expansion Strategy
Last year, we came up with a five-year business plan. When we started the company ten years ago, the business plan we had was exhausted at about the fifth year. Another one was written, which ended last year. So, our focus for the next five year is majorly on expansion.
Right now, we have agreements on colocation on certain base stations across the country, but we also want to invest on some of those base stations. We have some already, but we are expanding. Like in Onitsha, the ones we have are not enough. In Abuja we have one and we will launch another one before the end of the month. There is an existing one in Calabar, we want to launch another one there too; so that we can cover the larger part of the country and also the hinterlands.
Secondly, we just signed an agreement with Bitflux, which won the licensing for deploying LTE in Nigeria. But by the law they can’t sell to the end users, rather through internet service providers like us. We are one of their major partners. The base stations we are building will help in spreading their signals across the country; it is a collaborative drive where they set up some and we do too. We also have plan for setting up our cloud services. Discussions are on with Microsoft and Dell for the purchase of the software and hardware. We expect that the cloud will soon be up and running.
For the LTE, it is not going to be working only on WiFi or MiFi; it will still work on mobile as well. It is not restrictive; as long as your phone has the capacity of working on 2.3GHz spectrum, the signal will work. We are spending a lot of money in setting up these base stations. It costs a minimum of N20million to set up one base station. If we do some arrangements with people that have buildings, we will be spending N10 to N12million. That is going to be the major drive of our services.
Investments on Distribution
For this year, we have a budget of about $1.2million. What we did was to break down the five year plan into yearly focus. That is why, this year we are focusing on coverage. By next year, it is going to be more on Value Added Services (VAS), because the coverage would have been established. Then, we have plans to have a TV business. TV perfectly works on satellite. We are trying to incorporate IPTV into our existing business. That will probably happen by next year. Our team is already having talks with a Kenyan Company. We have visited each company’s facilities; we are hoping to tidy up the agreements this year, so that by next year we can launch our IPTV business.
End-Users Services against Corporate Services Delivery
What heralded the birth of our Company was due to the challenge in the corporate market, basically, connectivity. We have achieved a milestone on that, however, we also realized that in the retail or mass market sector, what is focused on is mobile, be it MiFi, or mobile phone, that was what led us into signing agreement with Bitflux. It is basically to solve some problems in the mass market segment. But you know that as at today most of the mobile internet services providers are on 2G/3G. None of them is actually what is regarded as full 4G. What we intend bringing on board is the pure 4G service which has a minimum of 10Megabytes per second. Anything short of that is not 4G, but most Nigerians do not understand the definitions of 2G, 3G or 4G. If the public is educated on how to test the service they are getting, they will understand better. Therefore, we want to bring alongside, education on 4G. It comes with exceptional speed at a very competitive price. You can imagine getting 100megabytes per second for as little as N5,000. As I speak, it is already happening in some locations in Lagos such as Ikoyi, Victoria Island, among others. Our focus is that before the end of the year, Lagos State would have been covered. With that, you and I will have access to affordable, reliable and exceptionally fast internet connectivity. In Europe you get a minimum of 12megabytes per second. They are advanced, because on the move you want to watch CNN, BBC, skype with your wife or husband. These services need big bandwidth, which 2G or 3G cannot really offer.
True Value Of What Subscribers Pay
We are already in mobile, just that the devices that will support our 4G services are not yet available. I want to believe that before the end of the year, it will be available. As we speak, Huawei is already producing 2.3Ghz phone which is compatible with our services. I want to believe that organizations like Samsung, among others are thinking towards that direction. We don’t want to be restrictive in such a way that you must buy our particular set of mobile phones. No. let people have varieties. It will definitely happen.
On whether other companies offer real 4G, I wouldn’t want to quote companies, but what we have experienced is that some are still deploying 2G or 3G. But they say it is 4G. Education needs to come in, the Nigerian citizens to understand the differences. A typical 4G services have minimum of 10megabytes speed. But 2G is like 2megabytes while 3G gives about 4megabytes. It is not enough to watch Nollywood content via the mobile phones, but people need the services real time. Only 4G can accord you the pleasure.
Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has raised the alarm that some corrupt Nigerian politicians are now hiding their illicit wealth in cryptocurrencies to evade scrutiny and detection by anti-graft agencies.
Ola Olukoyede, chairman, EFCC
The EFCC boss said the agency had uncovered a growing trend where fraudulent public officials now used cryptocurrency wallets to stash stolen public funds and conduct illicit transactions.
Olukoyede made the revelation at an event commemorating Africa Anti-Corruption Day.
The event was held simultaneously in Abuja, Lagos and Ibadan, Oyo State.
Other speakers at the event lamented that Nigerians usually fell victim to crypto fraud, including the recent CBEX scam, where Nigerians lost over N1.3tn.
Olukoyede said, “Virtual asset fraud is on the rise. Our findings show that fraudulent politicians are already perfecting schemes and hiding their loot in cryptocurrencies to beat the investigative blackness of anti-corruption agencies.
“Stolen funds and unexplained wealth are being warehoused in wallets and payment for services are being done through this window,” he said.
Olukoyede warned that while the rise of virtual assets had transformed financial transactions globally, it had also created new avenues for money laundering and financial crimes.
He said, “Technology is moving at a supersonic speed around the world.
“The advent of virtual assets is a response to one of the qualities of money as a store of value like it is known in our elementary economies.”
“However, as with every progressive innovation, fraud starts to usually evolve, evolve ways of perverting their genuine purposes,” he said.
He added that the EFCC was not helpless in the face of the sophisticated schemes, noting that proactive training and intelligence sharing had enabled the commission to identify and investigate such cases.
Airtel Nigeria, telecommunications and digital solutions provider, has reemphasised its commitment to national development with a two-day workshop for companies in Nigeria’s Banking, Financial Services & Insurance (BFSI) and utility sectors.
Held from July 8 to 9, 2025 at the Lagos Continental, the exclusive event brought together C-suite executives and industry thought leaders to co-create transformative and tech-driven solutions for these critical industries.
Themed “Banking on Innovation: Powering Financial Services with Connectivity” on 1 and “Accelerating Nigeria’s Digital Leap: Smarter Networks, Smarter Business” on Day 2, the sessions were designed to identify critical pain points, unlock business potential, and drive smarter, more connected operations across two of the nation’s most essential sectors.
Delivering the keynote address, Dinesh Balsingh, Managing Director/CEO of Airtel Nigeria, reaffirmed Airtel’s dedication to enabling and driving Nigeria’s digital transformation across the finance and energy sectors.
Speaking on the timeliness of the workshop, Airtel Nigeria’s Managing Director and Chief Executive Officer, Dinesh Balsingh said, “From power and water to finance, transportation, and logistics, this is a defining moment for every sector. The real question isn’t whether to adopt digital solutions, but how quickly and intelligently we can do so. At Airtel Nigeria, we’re moving beyond basic connectivity and becoming a true digital partner to the industries we serve.”
He highlighted Airtel’s categories of enterprise solutions that has been created to improve quality of life. These groupings include Internet of Things (IoT) for such services as smart metering, leak detection, energy optimisation, and real-time asset tracking; Communications Platform as a Service (CPaaS), which enables secure, multi-channel customer engagement via SMS, WhatsApp, Voice, and USSD; as well asl Network as a Service (NaaS), which delivers flexible, secure connectivity with cloud-ready agility.
Mr. Balsingh added that, “Nigeria’s power and energy industries are under growing pressure to modernise. Legacy infrastructure, fragmented systems, and lack of real-time visibility are major obstacles. Airtel is stepping in with the right tools, not just to connect, but to transform. With IoT, CPaaS, and NaaS, we’re laying the groundwork for smarter operations, improved service delivery, and better outcomes for businesses and consumers alike.”
Abhishek Biswal, Chief Business Officer, Digital Services at Airtel India, brought substantial insight to the discourse with a demonstration of Airtel’s IoT Hub and its transformative impact on energy distribution.
Biswal said, “The future of finance and energy is digital, and that future must be secure, scalable, and seamless. When financial players and utility providers partner with telcos like Airtel, we’re not just connecting systems; we’re building a smarter digital ecosystem for everyone.”
Reinforcing the CEO’s position, Ogo Ofomata, Director, Airtel Business, called for collaboration among the participating sector and their stakeholders.
“We don’t take lightly the trust you have put in us. Airtel operates in what we call the enabler industry. Sometimes we don’t even know there’s a problem until we come together like this. This workshop is about understanding your needs and working side by side to design solutions that truly fit,” she said.
In his remarks, Luc Serviant, Group Enterprise Business Director at Airtel Africa, highlighted the company’s role in driving digital transformation through sustained investments in 5G and LEO satellite connectivity, aimed at boosting remote operations and expanding access in underserved regions across the finance and energy sectors.
He said, “At Airtel, we understand that the future of is going digital, and reliable connectivity is the backbone of that future. From 5G to LEO satellite integration, we are investing in intelligent infrastructure that empowers service providers to operate more efficiently, respond in real-time, and deliver uninterrupted services to millions of Nigerians. This isn’t just about innovation; it’s about building the digital foundation that will power the nation’s next chapter.”
This workshop, which continues the series of sectoral engagements within Nigeria’s growing economy, concluded with feedback from stakeholders who called for the inclusion of regulatory bodies such as the Nigerian Communications Commission (NCC) in future editions.
The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing $10 million to Telecel Global Services Ltd, through a senior secured amortising loan.
The transaction marks a significant milestone in the operationalisation of the Fund. The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund, established by the AfCFTA Secretariat and African Export-Import Bank (Afreximbank) to provide targeted transitional support to AfCFTA State Parties and private sector entities as they adjust to the requirements and opportunities presented by the AfCFTA Agreement.
Telecel Global Services, a subsidiary of the Mauritius based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecoms operators across Africa and globally.
With digital connectivity being at the heart of the trade and economic integration and success of the AfCFTA, this facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through enhanced connectivity and digital inclusion.
By investing in digital infrastructure in underserved markets, the Fund is helping reduce trade barriers, foster cross-boarder productivity and accelerate inclusive industrialization. Mr. Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund Corporation, stated: “
The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA.
This US$10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact—accelerating digital connectivity, enabling intraAfrican trade, and supporting private sector-led development in priority sectors.
It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.”
H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noted: “This transaction demonstrates how the AfCFTA Adjustment Fund is beginning to serve its intended purpose – supporting State Parties and the private sector as we work to make this Agreement commercially meaningful.
By investing in digital infrastructure, we are addressing some of the most critical enablers of trade facilitation, industrialisation, and regional value chain development.”
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, added: “Today, we make another bold statement of our unwavering intent to ensure that Africans reap the benefits of the African Continental Free Trade Agreement.
We are proud to have commenced the operationalisation of the Credit Fund. With this Fund, we will provide vital support to African corporates, helping them retool and expand their operations necessary to capitalise on the AfCFTA opportunities.
The investment strengthens a critical enabler, the digital economy and regional connectivity, while reinforcing our long-term commitment to transforming the structure of the African economy.”
Marlene Ngoyi, CEO, FEDA, the Fund Manager of the AfCFTA Adjustment Fund, said: “This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation.
We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.”
The Credit Fund will continue to prioritise commercially viable investments that enable trade, support diversification, and promote inclusive growth in line with the broader AfCFTA implementation agenda.
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