Connect with us

Technology

6,000MW Needed to Reduce Power Outages in Nigeria

Published

on

electricity

NIGERIANS may have inadequate power supply for a long time as Sam Amadi, the out-going Chairman, Nigerian Electricity Regulatory Commission, NERC, said that 6,000 megawatts of regular supply of electricity is needed before power outages can be significantly reduced in the country.

Amadi, who was speaking during a public hearing on the activities of NERC and Distribution Companies, Discos, as they relate to infrastructure and billing by the House of Representatives Committee on Power, also said that 55 percent of consumers remain un-metered. He attributed this to legacy issues which have resulted in consumers being charged through estimated billing.

Amadi lamented that the cloning of meters and bypassing of meters remain a major challenge particularly in some parts of the country and this results in loss of revenue for Discos. Responding to reports that the regulatory body is soft on Discos for infractions and inefficiencies particularly in metering, Amadi agreed, but however noted that the agency is not quick to wield the big stick in order to build investors confidence in the sector. He also attributed it to the fact that the Discos are still experiencing several challenges.

“It is in the interest of consumers that we help Discos and generating companies to survive, but from the beginning of this year, we have been penalising. Recently, we asked Abuja Disco to pay N18 million to the family of a child who was electrocuted, and they did that,” he said.

Amadi added that Abuja Disco was also mandated to compensate 32,000 consumers with about N50 million due to over-billing. He explained further that the Discos are experiencing several challenges. “You talk about tariff, but what about gas? The telecommunications industry has the advantage of technological innovations. Electricity is a conservative technology, we cannot do without gas, even if we build solar everywhere,” he said, adding that the discos have to deal with weak infrastructure.

Also speaking at the public hearing, Mark Karst, managing director, Transmission Company of Nigeria, TCN, said the company is targeting 20,000 megawatts of electricity by the year 2020 and would need $1 billion annually to achieve the target. He noted that the money required is a huge sum.

Karst put the current power generation at 4,800 megawatts, with potential for 5,400 and 6,000 in a very short time if certain adjustments are made. He disclosed that the tariff application of TCN with NERC has been pending since the middle of 2014. “Transitional electricity market declared in February 2015 has not been effective,” he said, adding that the power sector remains a difficult field to navigate for all players involved.

Igariwey Enwo, member of the committee, however, challenged that NERC has being soft on Discos which resulted in them not being keen on metering, and campaigning for the switch to smart meters. “No individual in my state, Ebonyi, has a single pre-paid meter. Many people there have never even seen what it looks like…you have to make it mandatory for them to go ahead with the metering,” he said,

The lawmakers raised several challenges which consumers continue to experience, such as mass disconnection, paying for transformers, cables and even labour to get electricity and exploitation through estimated billing.

Daniel Asuquo, chairman, House Committee on Power, said the committee takes the issue of local content seriously, and Nigerians must be given right of first refusal. He also lamented that the TCN wholly owned by the government, is being owed by the discos despite the N213 billion loans granted to them by the Central Bank of Nigeria.

Vanguard

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Fintech

Financial Inclusion: ZirooPay Targets Deeper Mobile POS Penetration in Nigeria

Nigeria’s retail Point-of-Sale solution provider, ZirooPay has embarked on an aggressive drive to deepen the penetration of its unique mobile POS assets.

Published

on

Omoniyi Olawale

In a bid to boost market share while driving financial inclusion by penetrating the underbanked market through its proprietary mobile POS technology, Nigeria’s retail Point-of-Sale solution provider, ZirooPay has embarked on an aggressive drive to deepen the penetration of its unique mobile POS assets.

Over the next months, ZirooPay hopes to grow its network of mobile POS around Nigeria by adding no fewer than 20,000 mobile POS, on the heels of a successful funding round, which has positioned it to tap into the growing opportunities in Africa’s retail sector.

Recall that ZirooPay is reputed for a patent of a unique and efficient mobile POS technology that enables small businesses to process card payments in real-time, even when there is no internet/data connection, strategically positioning it to drive financial inclusion in a country that has achieved only 63 per cent financial inclusion and 33.6 per cent of broadband penetration.

ZirooPay’s payments solution is fast, simple and reliable, delivering a 95 per cent transaction success rate for POS transactions compared to the industry’s average of 25 – 50 per cent.  The solution leverages its unique and patented internet-free technology, to enable SMEs (across the retail, agency banking, hospitality and services sectors) to process in-person payments, track their sales, and manage their businesses from their mobile devices.

Beyond payments, ZirooPay also provides merchants with automated sales history, sales analytics, and inventory tracking to help them monitor and manage their businesses more efficiently. ZirooPay’s superior transaction success rate and the integrated nature of its service stand it out from the competition.

The payment provider, which started operations in Nigeria in 2019, has organically grown to 15,000 merchants processing over $500m in 10m transactions and looks to replicate this success across Africa.

Speaking recently, the Chief Executive Officer, CEO of ZirooPay, Omoniyi Olawale said this is part of several initiatives aimed at empowering more SMEs to take effective control of their businesses, adding that the firm is committed to deepening access to ZirooPay’s invaluable payment services for all sizes of retail business both in rural and urban centres in Africa.

He explained that innovative payment solutions such as ZirooPay will remain an imperative as wholesale and retail sectors continue to dominate Africa’s contribution to its GDP, even as population growth and rapid urbanisation continue to drive consumption across the continent.

He said, “ZirooPay has set out to build an operating system for retail in Africa by providing solutions that not only drive financial inclusion but also support the payment infrastructure needed for retail to thrive on the continent. Lack of reliable payment technology for the continent remains one of the major challenges that has hindered trade tremendously and ZirooPay Mobile POS solution will address this challenge.”

According to Omoniyi, while it is still early days for payments in Africa, ZirooPay understands the peculiarities of the continent’s infrastructure challenges and would continue to advance similar innovative solutions that will address the payment challenge on the continent on a sustainable basis.

Continue Reading

Technology

Nigeria Approves Microsoft Agreement, Others to Accelerate 5G Deployment

In a move to accelerate the deployment of 5G services, the Federal Government has approved Enterprise Licensing Agreement for Microsoft products and clearing up of the C-band spectrum.

Published

on

microsoft - Investorsking

In a move to accelerate the deployment of 5G services, the Federal Government has approved Enterprise Licensing Agreement for Microsoft products and clearing up of the C-band spectrum.

The approval was after Isa Pantami, the Minister of Communications and Digital Economy presented three memos to the Federal Executive Council (FEC) on June 29, 2022.

Femi Adeluyi, the Technical Assistant (Research and Development) to the Minister of Communications and Digital Economy, disclosed in a statement issued after the approval.

The Government-wide Enterprise Licensing Agreement for Microsoft products will help reduce the cost of information technology projects, while the C-band migration is expected to aid the deployment of the 5G network.

Explaining the benefits of the agreements, Adeluyi said “The Agreement will give the government access to discounted prices and other cost benefits, as well as reduce project duplication across Federal Public Institutions (FPIs).

“It will also guarantee proper technical support for Microsoft products and services, thereby ensuring protection against cybersecurity threats, which will guarantee availability and reliability of government IT services.

“The Enterprise Licensing Agreement will provide a projected savings of a minimum of 35% of Governments current investment in Microsoft Products and Services.

“This will not only substantially reduce the cost of license procurement for FPIs, it will reduce and simplify licensing complexity, facilitate accounting and cash flow predictability and monitor utilisation and impact of Government investment.”

The statement added that the Federal Executive Council has directed all Federal Public Institutions to start taking advantage of the agreement by using Microsoft licenses and services.

Continue Reading

Telecommunications

Nigeria’s Data Consumption Jumps 413.79%

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

Published

on

Broadband Penetration - Investors King

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

In the last four years, Nigeria’s internet population grew by 41.38 million while Nigeria’s internet data usage increased to 350,165.39 terabytes in 2021, up from 68,154.12 terabytes in 2018.

During the period under review, broadband penetration rose to 40.88% or 38.12 million users in 2021 from 19.97% or 78.04 million users in January 2018.

NCC data showed GSM internet subscribers grew by 41.39 million from 100.23 million in 2018 to 141.62 million in 2021.

This, experts attributed to growing smartphone penetration and more access to data in Africa’s largest economy.

“Smartphone penetration was up by one percentage point to 33 per cent and our data customer base grew by 14.5 per cent, now representing 34.3 per cent of our total customer base,” Airtel stated in a report.

“Data usage per customer reached 2.6 GB per customer (from 1.8 GB per customer) led by an increase in smartphone penetration and expansion of our home broadband and enterprise customers.

“This helped us grow data revenue 31.2 per cent in constant currency. Growing penetration and usage of 3G and 4G data customers helped us grow data ARPU 8.2 per cent. Fourth Generation data usage more than doubled in the year, contributing 62.2 per cent of total data usage on the network in Q4’21.”

The telecommunication giant further added that “Our improved 4G network contributed to an increase in smartphone penetration, in data customers and in up-take of large data volumes, resulting in greater data consumption per customer.”

Continue Reading




Advertisement
Advertisement
Advertisement

Trending