Telecom
NASRDA Puts Worth of Nigeria’s Space Technology Industry @ $1bn
Dr. Halilu Shaba, the Director General of the National Space Research and Development Agency (NASRDA), has stated that the valuation of Nigeria’s space industry could be as high as $1 billion.
Shaba clarified that the agency had successfully cultivated the essential resources and expertise needed for the sector to prosper.
According to him, “the value of Nigeria’s space industry should be worth one billion dollars because we have developed the critical mass, we already have a design of what our next satellite will look like, but we need funds.
“Again, because we are sitting at the equator, all our communications satellites used to have very wide coverage, they are more than any other country.
“Angola launched but the footage is not all over Africa but our satellites will always have footage all over Africa, not only for West Africa and that gives us the market.
“We value ourselves as the only operators at the equator and because of that we imagine our reach, that alone gives us a unique position,’’ Shaba said.
The Director General also mentioned that the agency is actively implementing measures to democratize space technology and involve a broader spectrum of Nigerians to enhance awareness, thereby ensuring transparency in its service delivery.
Shaba said: “A lot of people use this technology without knowing, they use Global Positioning System (GPS), hand-held phones and they don’t even know that these are space technology.
“In everything we do these days, technology is being used but the common man is not even aware that it is this same technology.
“We are talking to the people who will break it down to the citizens through the relevant institutions.”
Shaba noted that the agency has progressively bolstered its collaborations with universities to foster a research-oriented culture.
He also mentioned that the agency has actively promoted the pursuit of advanced degrees, such as Masters and Doctorate programs, among its researchers.
This initiative aims to deepen their knowledge and contribute to the development of a critical mass of expertise. However, he pointed out that security concerns had posed a hindrance to achieving a round-the-clock research culture.
“We are working to change the culture of research because you must have security. Comparing with some other countries that are into space science technology, you see that they have about a 24-hour research culture but in the case of Nigeria, we just have about eight hours and yet we are competing.
“We have been consistently trying to see how our centres and campuses located sometimes in the outskirts of town can improve on research by having 24 hours,’’ the director general said.
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
MTN Nigeria Communications Plc has announced plans to issue up to N50bn in Series 13 and 14 Commercial Paper Notes under its N250bn Commercial Paper Issuance Programme.
This proposed issuance aligns with the company’s strategy to broaden its funding sources and strengthen its liquidity position.
The proceeds from the issuance are earmarked to support MTN Nigeria’s short-term working capital needs, enabling the company to sustain its operations and meet financial obligations effectively.
In a statement to the Nigerian Exchange Limited (NGX) and the investing public, MTN Nigeria emphasized its commitment to maintaining financial stability and operational efficiency.
According to the statement signed by Uto Ukpanah, company secretary, further details regarding the structure, pricing, and timeline of the issuance will be disclosed to the market in due course, as MTN Nigeria continues to engage with stakeholders and regulatory authorities.
MTN Nigeria recently completed its series 10 commercial paper issuance under its upsized N250bn commercial paper issuance programme.
The telecom giant said it sought to raise N72.1bn and the offer recorded 149 per cent subscription with N72.1bn issued.
The 266-day commercial paper was issued on 29 November 2023 at a yield of 16 per cent.
The CP issuance aligns with MTN Nigeria’s strategy to continue diversifying its funding sources and reducing its average cost of debt. The proceeds will be applied towards short-term working capital requirements.
Karl Toriola, chief executive officer, MTN Nigeria said. “We are pleased with the support received from the investor community, having recorded a 149 per cent subscription from a broad range of investors. This reflects NTN Nigeria’s robust financial capacity, brand strength, and market leadership amidst the upward pressure on interest rates”
Stanbic IBTC Capital Limited played the role of Arranger and Dealer with ARM Securities Limited. Chapel Hill Denham Advisory Limited, Coronations Marchant Bank Limited, FCMB Capital Markets Limited, Quantum Zenith Capital &Investments Limited, Rand Marchant Bank Limited, and Vetiva Capital Management Limited played the role of Joint Dealers on the transaction.
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