Telecom
Nigeria Exceeds 30% Broadband Penetration Target
The Nigerian Communications Commission has said that Nigeria exceeded the 30% broadband target and has recorded 30.9% penetration target so far.
The Commission made this known on Thursday in Abuja at a media parley with the Executive Vice Chairman of the NCC, Prof. Umar Danbatta in Abuja.
It would be recalled that federal government in 2012 set a 30% broadband penetration target from 2013-2018.
The figure had been hovering between 20-21% from 2017-2018. Speaking through the Executive Commissioner Stakeholders management Sunday Dare, the EVC said it has exceeded the target set by National Broadband plan to achieve 30% Broadband from 2013-2018.
The NCC boss also said it had recorded internet subscriber base of 109 million adding that broadband service subscribers is now at 59 million people.
Danbatta assured Nigerians and other users in the telecom industry that henceforth the NCC reports on broadband penetration would be on a monthly basis from 2019 and that all information and progress on mobile, internet and data usage penetration would be sustained to provide the necessary requirements for increased investments and effective regulation of the telecom sector in Nigeria.
The NCC boss said based on the first to third quarter reports, the ICT contributions to Growth Domestic Products had reached N5trillion.
According to him, active voice subscriber base grew from 165,239,443 in October 2018 to 169,104,830 in November 2018 adding that Internet Subscription grew from 107,547,723 in October, 2018 to 108,897,679 in November 2018 and that Total Active Broadband Subscription on 3G and 4G platforms as at November 2018 is 58,965,478.
He said contributions of telecommunications and information services to GDP from Q1 – Q3 2018 was N4.7 trillion according to figures released by the National Bureau of Statistics.
In the last quarter (Q3, 2018), the amount stood at N1.5 trillion according to Q3 figures reported by the NBS and that telecommunications and information Services Sector grew by 14.7% from Q1, 2017 – Q3, 2018.
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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