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Worldwide Public Cloud Revenue to Grow 21.4 Percent in 2018 – Report

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The worldwide public cloud services market is projected to grow 21.4 percent in 2018 to total $186.4 billion, up from $153.5 billion in 2017, according to Gartner, Inc.

The fastest-growing segment of the market is cloud system infrastructure services (infrastructure as a service or IaaS), which is forecast to grow 35.9 percent in 2018 to reach $40.8 billion.

Gartner expects the top 10 providers to account for nearly 70 percent of the IaaS market by 2021, up from 50 percent in 2016.

“The increasing dominance of the hyperscale IaaS providers creates both enormous opportunities and challenges for end users and other market participants,” said Sid Nag, research director at Gartner.

“While it enables efficiencies and cost benefits, organizations need to be cautious about IaaS providers potentially gaining unchecked influence over customers and the market. In response to multicloud adoption trends, organizations will increasingly demand a simpler way to move workloads, applications and data across cloud providers’ IaaS offerings without penalties.”

Software as a service (SaaS) remains the largest segment of the cloud market, with revenue expected to grow 22.2 percent to reach $73.6 billion in 2018. Gartner expects SaaS to reach 45 percent of total application software spending by 2021.

“In many areas, SaaS has become the preferred delivery model,” said Mr. Nag. “Now SaaS users are increasingly demanding more purpose-built offerings engineered to deliver specific business outcomes.”

Within the platform as a service (PaaS) category, the fastest-growing segment is database platform as a service (dbPaaS), expected to reach almost $10 billion by 2021. Hyperscale cloud providers are increasing the range of services they offer to include dbPaaS.

“Although these large vendors have different strengths, and customers generally feel comfortable that they will be able to meet their current and future needs, other dbPaaS offerings may be good choices for organizations looking to avoid lock-in,” said Mr. Nag.

Although public cloud revenue is growing more strongly than initially forecast, Gartner still expects growth rates to stabilize from 2018 onward, reflecting the increasingly mainstream status and maturity that public cloud services will gain within a wider IT spending mix.

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Samsung in N65m Copyright Infringement Suit in Nigeria

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Eagle Eye Production Limited, an Abuja-based production company has slammed N65 million lawsuit against Samsung Nigeria and Ringier Media Nigeria Limited for allegedly using a part of its ‘Lekki-Ikoyi Link Bridge at Night’ video in a Galaxy S8 advert without authorization.

 

Samsung had, after receiving the lawsuit, claimed it had no knowledge of the creative process of the ad, as it outsourced the job to one Cheil Communications Nigeria Limited.

 

Cheil Communications, in turn, claimed it outsourced the job to Ringier Media Nigeria Limited.

 

At the first hearing on the lawsuit on May 3, before Justice Hassan of the Federal High Court sitting in Ikoyi, Lagos, Ringier Media’s Counsel applied to strike out the suit, claiming that the court lacked jurisdiction to entertain the suit because Eagle Eye in suing Ringier Media omitted the word ‘media’ in its name.

 

Ringier Media also argued that the suit did not disclose a reasonable cause of action against it.

 

Mrs. Abimbola Akeredolu (SAN) however, prayed the court to dismiss Ringier Media’s application with substantial cost on the basis that the omission of the word media from Ringier Media’s name is “a misnomer” and that the suit disclosed a reasonable cause of action against Ringier Media.

 

The learned Silk also pointed out that the omission of the word “media” was infact caused by Ringier Media and its counsel who in various correspondences exchanged prior to the suit represented to Eagle Eye’s counsel that the full name of Ringier Media is Ringier Nigeria Limited instead of Ringer Media Nigeria Limited.

The learned Silk also pointed out that Ringer Media’s counsel also described its client’s name as Ringier Nigeria Limited in the conditional memorandum of appearance filed by the said counsel on Ringier Media’s behalf.

 

On the same day, Eagle Eye’s Counsel also moved an application to amend their Writ of Summons and other accompanying originating processes to reflect the proper name of Ringier Media.

 

Court proceedings were witnessed by a Newsroom correspondent when Justice Hassan gave his ruling on Monday, June 2, 2018.

 

On Ringer Media’s application to strike out the suit, the learned judge held on the first leg, that the omission can be treated as a misnomer and representatives for the plaintiffs are allowed to file an application for amendment.

 

“There is no kind of mistake or error which the court cannot correct, except it is intended to cause injustice to a party. The omission can be corrected without causing injustice to the other party,” he ruled.

 

The Learned judge also held on the second leg, that looking at certain paragraphs in Eagle Eye’s Statement of Claim, the court is satisfied that a reasonable cause of action has been disclosed against Ringier Media.

 

The learned judge thereafter dismissed Ringier Media’s application and awarded cost of N20,000 in favor of the Plaintiffs against Ringier Media.

 

On Eagle Eye Production’s application to amend, the learned judge ruled that representatives for Eagle Eye Production Limited were misled by Ringier Media.

 

He made references to the exhibits submitted by the legal counsel for the Eagle Eye, where it was established that Ringier Media Nigeria Limited described itself only as Ringier Nigeria in various correspondences. Thus, the learned judge reiterated as follows:

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ITB Nigeria Set to Complete its First Steel & Concrete Building

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ITB Nigeria Ltd, innovative construction company providing full and advanced integrated engineering and construction solutions in both private and public sectors, is set to complete its first steel & concrete building project, Azuri Peninsula, in Eko Atlantic City, Lagos state.

The Azuri Peninsula project, which began in early 2015, is a unique steel and concrete residential building project that consists of three sets of over 30 storey towers.

It offers a unique collection of four-bedroom luxury and super luxury apartments, two and four-bedroom stunning Marina Town houses as well as s six-bedroom simplex (penthouses).

Commenting on the project, Mr. Ramzi Chidiac, Managing Director of ITB Nigeria, said, “We are excited about this project because it’s our first composite structure created by a combination of steel and concrete to form a single element.

This helps to deliver performance that is more effective than when individual components are used together but not unified. This testifies to the excellent work that we do at ITB Nigeria.

We are focused on fully understanding the needs of our clients and delivering on our promises, regardless of the scale or complexity of the challenge at hand”.

Steel and concrete structures involve a mix of steel and concrete together to form a single element. The tensile capacity of the steel and the compressive capacity of the concrete results in a standard structure.

This gives rise to benefits like speed, performance and value. Additionally, concrete encasement protects the steel from buckling, corrosion and fire.

On his part, Engr. Emmanuel Adeyemi, QA/QC Coordinator, ITB Nigeria,  stated, ‘the uniqueness of composite structures is that it enhances speed of construction, performance and value.

Steel framing for a structure can be erected quickly and the pre-fabricated steel floor decks can be put in place immediately.

When cured, the concrete provides additional stiffness to the structure, making the structure one that can stand the test of time”.

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BoI Secures $750M Afreximbank Loan at Single Digits for MSMEs

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Bank of Industry (BoI) will be disbursing the $750 million (N250 billion) syndicated loan facility which she received from the African Export-Import Bank (Afreximbank) to Micro, Small and Medium Enterprises at single digit interest rate.

Mr Olukayode Pitan, Managing Director, Bank of Industry, made this disclosure on the last day of the Afreximbank 25th Anniversary and Annual General Meeting during an interview with journalists in Abuja.

Pitan revealed that “the loan will be given to entrepreneurs in Nigeria for a period of between five and seven years, would enable the BoI bridge the funding gap for MSMEs which estimated at about N700 billion.”

This fund he said would be “given to companies operating in the creative industry, manufacturing and gender based businesses to help reduce the unemployment rate in the country and create wealth for small and medium scale entrepreneurs.

“We are looking at small, medium and large enterprises. We are looking at enterprises or companies that have a focus in using local raw materials, companies that generates that generates employment and bring down their cost of borrowing” he said.

Pitan stated that “the loan will be deployed at less than ten per cent interest per annum. We are working with the Central Bank of Nigeria so that the loan we will give to Nigerian businesses will be a longer term loan of between seven to eight years for the industrial sector.”

The landmark deal was signed off in the presence President Muhammadu Buhari who insisted on witnessing the agreement signing ceremony in Abuja because the N250 billion syndicated facility financed by 16 banks (among which are: Africa Export-Import Bank, the ECOWAS Bank for Investment and Development,  and British Arab Commercial Bank Plc and four Nigrrian banks based in the United Kingdom) is the single largest facility of its kind to be received by a Development Finance Institution (DFI) in Nigeria.

According to Pitan, “the idea is to support industries. What this loan allows us to do is, it gives additional N250 billion depending on the exchange rate that is used, between N230 billion to N250 billion to deploy to the industrial sector.

There is gap in the funding of the industrial sector, to the tune of N704 billion. This is our way to reduce that gap.”

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