MTN Nigeria has warned that if suitable mobile tariffs are not guaranteed, investment in the Nigerian telecoms sector could suffer.

Modupe Kadri, chief financial officer, MTN Nigeria who stated this, also warned that if appropriate pricing methods are not applied, the sector may experience a fall in investment, similar to the Nigerian oil industry.

Kadri’s comments come at a time Nigerian telecom companies have been raising their calls for higher mobile charges and have been lobbying for measures that they hope will be favourable to them and push up their ability to invest in networks.

Kadri made the fresh call at a panel discussion at the 30th Nigerian Economic Summit in Abuja, where he highlighted how rising inflation and foreign exchange concerns have harmed the industry’s operational efficiency.

According to him, the telecoms sector is significantly reliant on imported goods, which jeopardises its financial stability.

Kadri pointed out that, whereas prices in the petroleum and electricity industries have already been increased, the telecom business has yet to receive a comparable hike.

He underscored the necessity of building a fair regulatory framework to help corporate sustainability and specifically requested that the government weigh in on this.

“Our operations are significantly dependent on foreign exchange,” Kadri remarked. “For consumers to receive the services they expect, it’s essential to recognise that these come at a cost.”

He added: ”When people have to invest in the country and are not able to monetise their investment, it cannot work. The only way that this economy will thrive is if there is appropriate pricing such that investments in the sector are guaranteed.”

As part of its commitment to driving innovation in the digital financial services sector, MoMo Payment Service Bank (PSB) and Vendy Ltd has teamed up with tech firm, Vendy Ltd to introduce WhatsApp shop, a platform which enables businesses to easily set up online stores, accept payments, and directly engage with customers through WhatsApp.

The announcement, made during the Moonshot by TechCabal tech conference, marking a new chapter in the integration of technology and commerce in Nigeria.

This partnership aims to redefine the shopping experience, leveraging WhatsApp’s widespread use to make access to products and services, simpler and more convenient for millions of Nigerians.

The collaboration merges MoMo PSB’s extensive distribution network with Vendy Ltd’s cutting-edge technology solutions to enhance financial inclusion across Nigeria. With over 19 million registered users, MoMo PSB has been instrumental in bringing digital financial services to underserved communities.

The newly launched WhatsApp shop allows users to browse, order, and pay for products directly within the app, delivering a streamlined and intuitive shopping experience for smartphone users.

Abiodun Odelola, Manager, Brand and Communications at MoMo PSB, emphasized the impact of the partnership, saying, “Our goal is to create an experience that brings financial services closer to the people while driving economic growth, and this collaboration with Vendy Ltd aligns with that vision.

“By integrating our payment solutions directly into a familiar platform like WhatsApp, we’re making everyday transactions more accessible to Nigerians.

“It’s about meeting people where they are and offering them a simple, secure way to shop and pay.

“We’re excited about how this will open up new opportunities, especially for those who may have been left out of the digital economy for too long,”

The WhatsApp shop taps into the platform’s global user base of over 2 billion, delivering a more convenient and accessible shopping experience.

As mobile communication continues to dominate in Nigeria, this strategic integration is expected to attract users from diverse backgrounds, further cementing WhatsApp’s role as a crucial tool for daily transactions.

Since its launch in April 2022, MoMo PSB has rapidly become a leader in Nigeria’s mobile money market, with a focus on accessibility and inclusion.

This collaboration with Vendy Ltd reinforces its commitment to bridging the gap for underserved populations, offering digital financial solutions that are as easy to use as sending a message on WhatsApp.

National Agency for Science and Engineering Infrastructure (NASENI) through the Presidential Implementation Committee on Technology Transfer (PICTT) has awarded the sum of N70.5 million naira grant to six winners of the Developing Engineering Leaders Through Her (DELT-Her), via call for proposal, a project under Delta-2 programme of the Agency.

NASENI had on March 8, 2024, International Women’s Day celebration, launched DELT-Her project and call for Proposal, aimed at addressing gender imbalance in the practice of engineering and technology based Businesses in Nigeria, by sponsoring the innovative ideas and projects by young female engineers.

In his welcome address, during the grant award ceremony held at NASENI Headquarters on Tuesday in Abuja, the Executive Vice Chairman/CEO of the Agency, Mr. Khalil Suleiman Halilu, represented by the Coordinating Director, Planning and Business Development Directorate, Dr. Mrs. Nonyem Onyechi, said “DELT-Her initiative is aimed at empowering young women in engineering and technology.”

He emphasized the importance of providing women with the necessary tools, platforms, and support to thrive in the fields that have traditionally been male-dominated. He said the selected projects not only challenged the status quo but also have the potential to address real-world problems.

The EVC/CEO affirming that young girls belong in STEM fields and that their dreams are valid, said, “I encourage awardees to view their success as a beacon for others and the commitment to fostering environments where women can excel in engineering and technology.”

Also, speaking, Chairman of PICTT, Dr. Mohammed Dahiru, said after thorough evaluation process of over 120 applications received, six outstanding innovative ideas were selected for grant to the tune of each project cost estimate and other forms of support.

The event, he said, was to sow a seed that would change Nigeria in terms of technology transfer. “We are recognizing and celebrating our awardees for their amazing feats, while also recognizing the just concluded International Day of the Girl Child, with the hope to inspire the younger generation to embrace and thrive in science and engineering”, he further explained.

The awardees will receive grants to the tune of the project cost estimate, technical support, links to partners and commercialization of the R&D institutes outputs. Some of the awardees based on their project have also been selected to participate in the forthcoming AFRI. Lab Annual gathering in Cape town, South Africa.

The grant recipients with their projects are: Engr. Rukkaya Abdulmutalib, ‘Artificial Intelligence Censored Machine to Monitor Soil Health for Green-Houses N3m); Patience Ibrahim-Janda, ‘Automobile Brake Pads produced from Organic Waste’ N10m); Engr. Amina Ibrahim Khaleel, ‘Drone for Intelligent ReaL-time Security and Target Tracking’ (N17.5m); Engr. Dr. Kudirat Oyewumi Jimoh, ‘Electronic Training Board/Device for Science and Engineering Students’ (N16.5m); Engr. Dr. Ikechukwu Ijeoma Francisca, ‘Automatic Bambara Flour Processing Machine’ (N8.5m); and Engr. Abisola Ayomide Olayiwola ‘Solar-powered Snail Shelling Machine’ (N15m).

Also, in commemoration of Girl Child International Day celebration, four Junior Girls Secondary Schools exhibited their innovative and technological devices at the Agency. They schools included: Junior Secondary School Jikwoyi 1-Fueless Generator; and Junior Secondary School Pasali –Fabrication of Mini Refinery Waste Plastics into Home Use Liquids Fuels and Gas.

The rest were: Junior Secondary School Phase 3, Gwagwalada-Ultra Modern Solar Power Sea Planting and Chemical Spraying Machine; and Junior Secondary School Kuje-Conversion of Water and petrol into methane Gas by using Pressure and Junior Secondary School Area 11 – Archimedes Screw Turbines.