Telecom
Nigeria Needs Concrete Plans to Leverage International ICT Partnerships- ATCON
The success of local content drive in the telecom and information and communication technology (ICT) in Nigeria would accelerate the progress of the sector, according to Association of Telecommunication Companies of Nigeria (ATCON).
However, the Association believes that the possible way forward for the country to gain on international partnership is by drawing up comprehensive short and long-terms plans of engagements.
Mr. Olusola Teniola, president of ATCON made the remarks during a presentation at the recent Indo-Africa Expo (IT and Telecom Summit) held in Lagos, adding that ATCON noted since the inauguration of the Office of the Nigeria Local Content (ONC), there has been very little or no noticeable activity to drive the guidelines that were published back in 2013.
He said, “ATCON would like NCC and ONC to come up with concrete short and long-term implementable plans in partnership with India.“Establishment of ICT Park: The Nigerian Government should encourage India should pool managerial and technical resources together for the establishment of an ICT Park in Nigeria. The ICT Park would be given the mandate to encourage the production of some ICT inputs like switches, router, and mobile phone repairs/assembly with some of our ATCON members that are already active in this space.
“Educational Policies must be Refocused: Today in Nigeria, the number of people who want to study science related courses are small (and in most cases reducing) in relation to students who want to study commercial or social science related courses”.
The trend painted above, Teniola said, can never solve the country’s challenges, “therefore, we need to begin to redirect the focus of students on the need to study science related courses. The Federal Government should make studying of science courses interesting by providing a conducive learning environment and state of art laboratory equipment for students with a view to encouraging local content policy.
“Government should Increase the Budget of ICT The Federal Government should begin to focus more on other alternative means of generating income and their focus should be on increasing government spending and budget allocation to funding the ICT sector for the purpose of making its products and services exportable, thereby allowing it to contribute to our foreign earnings.
“Enactment of Appropriate ICT Policies: In order for the ICT sector to supplement or replace the Oil and Gas sector, strong policy frameworks which favour the sector must be put in place. It should be emphasized that the petroleum industry which used to be the cash cow for our nation (from a foreign exchange earning perspective) is not doing so well right now and this is a global issue.
“Already several countries in more advanced economies have declared that from 2030, use of hydrocarbons to run their vehicles will be significantly reduced or stopped”.
He said that the direct implication of this is that Nigeria may not be able to finance her budget without resulting to further government borrowing.“ICT can as a matter of fact serve as the new cash cow for the country provided the right polices are put in place.
“ATCON would like to use this opportunity to seek the cooperation and strategic collaboration with India to organize some important local content driven programmes that would accelerate our local content with respect to the ICT sector.
“We are certain and confident that with all these proposed interventions we have shared and solutions being put in place, we can safely say that the ICT sector will contribute more significantly to our nation’s GDP with India’ support”, the ATCON President 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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