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Domain Name Registration Hits 60,000

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NiRA

The Nigeria Internet Registration Association (NiRA), the registry that controls the administration of .ng domain name, which is Nigeria’s identity in the cyberspace,  recorded 22,113 additional domain name registrations from January to December 2015. The figure, which is an improvement on the 18,870 domain names registered in 2014, brings the total number of registered domain names in the country, to about 60,000.

According to latest statistics released on NiRA’s website, the total number of domain registration for the year ending 2015 was 22,113, and the number of renewal of existing registered domain names in the same year, was 14,462. The figures for 2014 were 18,870 for new registration, and 11,319 for renewal.
President of NiRA, Mr. Sunday Afolayan, who confirmed the figures, said association  also witnessed an increase in the number of NiRA accredited registrars which rose by  five.

“NiRA can now boast of having 53 accredited registrars. We are hopeful the numbers will increase in 2016 with the additional accreditation of local and foreign registrars. It has been proved that with more registrars across the country, Nigerian presence online would increase,” Afolayan said.

A breakdown of the figures for new domain name registration in 2015, show that NiRA recorded the highest number of new .ng domain name registration in July with 2,260 registrations, while it recorded the highest number of renewal of existing registered domain names in March, with 1,362 renewals.

In January 2015, NiRA recorded 1,542 new domain name registrations, 1,029 renewals and 41 transfers of domain name from one registrar to another. In February, it recorded 1,512 new domain name registrations, 1,009 renewals and 45 transfers. In December 2015, it recorded 1,789 new registrations, 1,214 renewals and 85 transfers of domain names.

Explaining the technical details of renewals and transfers, Afolayan said domain names are sold at a cost and also renewed at a yearly cost. The transfers, he said, occur where registrants are not satisfied with the services of a registrar that was managing the domain name, and decided to transfer the services to another registrar, based on dissatisfaction. He, however, said the number of transfers has reduced in recent times, and that NiRA is working towards reducing the number further by ensuring that registrars offer satisfactory services to registrants.

Speaking about NiRA’s plans for 2016, Afolayan told THISDAY that NiRA expects a significant growth in the Domain Name System (DNS) industry , which will give better numbers than what was achieved in 2015.

“We will conduct more trainings on DNS related topics, as well as entrepreneurship trainings that would boost awareness of .ng and the DNS industry especially among our youths.  All our activities are geared towards promoting local content in the Information and Communications Technology (ICT) sector. We are hopeful that more Nigerians would be online for the right reasons, especially with the federal government’s plan to increase broadband penetration. This will definitely help to grow the Nigerian economy,” Afolayan said.

He added that NiRA also plans to embark on an extensive online campaign to advocate and promote the adoption of .ng in the country.

“I have no doubt that NiRA is empowering youths, creating wealth and building a prominent space for our registry in the future of Nigeria. There is therefore a need to encourage the Nigerian youths to improve on their Information Technology (IT) skills, which would definitely create job opportunities and ultimately develop our economy. Let us continue to think locally, while acting globally,” Afolayan said.

In technical parlance, .ng domain name is Nigeria’s country code Top Level Domain (ccTLD) system,  that identifies Nigerians, and provides access to online transactions on the web. Nigeria has several extensions of domain names such as .ng, .com.ng, .name.ng, .gov.ng, .org.ng, .edu.ng, among others, which are categorised under first, second and third level domain names.

Each country has its own unique identity on cyberspace for all transactions that have to do with world wide web (www). South Africa is identified with .za, Canada is identified with .ca, United States is identified with.com. United Kingdom is identified with .co.uk, among other countries that have unique cyber identities.

Thisday

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

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Dry Cleaners Set to Tap into $165 Billion Global Cleaning Industry

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The Fabric Professionals and Dry Cleaners Association of Nigeria (FPDA) is gearing up to host the “Clean Show Africa 2024” conference.

This conference aims to expose over 25,000 dry cleaners to the vast opportunities present in the global cleaning and hygiene industry, valued at a staggering $165 billion.

Scheduled to take place on May 28–29, 2024, in Lagos, the event is themed “Positioning Africa’s fabric and hygiene industry for excellence.”

It comes at a crucial time when Nigeria’s dry cleaning industry is experiencing steady growth, with projections indicating a 6.4% annual increase over the next decade.

According to Enibikun Adebayo, Chairman of FPDA, Nigeria’s dry cleaning industry was valued at $8.4 million in 2019.

However, this figure is expected to rise significantly, presenting a ripe opportunity for stakeholders to tap into.

Adebayo emphasized the importance of collaboration within the industry to fully leverage its potential.

“A year ago, we launched FPDA of Nigeria. We are also using the platform to educate our members to be better professionals,” stated Adebayo, highlighting the association’s commitment to enhancing professionalism and standards within the sector.

The conference will shine a spotlight on women in the dry cleaning business, recognizing their pivotal role in driving the industry forward. Reports have shown that dry cleaning businesses are often better managed by women, and the event aims to provide them with the necessary support and resources to thrive.

Ruth Okunnuga, Managing Director of Wasche Paint Nigeria, expressed the need to revolutionize Nigeria’s dry cleaning and laundry industry, emphasizing the lack of proper structure and investment.

She stressed the importance of data collection for effective planning and growth within the sector.

Joseph Oru, Managing Director of Zenith Exhibition, highlighted the conference’s objective of engaging the Federal Government to establish training institutions for dry cleaners. Such institutions would play a crucial role in equipping professionals with the skills and knowledge needed to meet global standards.

As Nigeria’s dry cleaning industry prepares to tap into the vast opportunities offered by the global cleaning market, the Clean Show Africa 2024 conference stands as a pivotal platform for collaboration, innovation, and growth within the sector.

With a focus on excellence and professionalism, stakeholders aim to position Nigeria as a key player in the dynamic and lucrative cleaning and hygiene industry.

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Nigeria-Taiwan Commerce Falls to $500m in 2023

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The Chief of Mission to the Taiwanese Government in Nigeria, Andy Liu, has said that the trade relations between Nigeria and Taiwan drop to $500 million in 2023 from $1 billion in 2021.

Liu made these comments during the 2024 Taiwan Business Forum held in Lagos.

According to Liu, Nigeria’s status as a net exporter of agricultural products, particularly sesame seeds has historically fueled the trade between the two nations.

However, the peak in trade experienced in 2021, buoyed by increased demand for Nigerian agricultural goods, notably declined in subsequent years.

“The highest peak of trade reached about $1 billion in 2021. It was the peak of COVID-19, with Nigerians enjoying surplus trading with Taiwan. We imported more of Nigeria’s agricultural products, such as sesame, aside from oil-related products. In 2021, we had a huge demand for agricultural products for our food processing industries,” Liu stated.

However, the trade dynamics shifted in the following years, leading to a significant decline in trade volume.

Liu attributed this decline to a normalization of demand following the peak in 2021, resulting in a reduction in trade value to $500 million by 2023.

Despite this decrease, Liu remained optimistic about the future trajectory of trade relations between the two countries.

“We might see some level of increase in the near future,” Liu enthused, highlighting Nigeria’s continued significance as a destination for Taiwanese businesses.

In addition to discussing trade volume, Liu addressed the issue of counterfeiting and piracy, which has affected Taiwanese products globally.

He said the Taiwanese government is working to combat this challenge by showcasing the quality of Taiwanese products and providing after-sale services.

“We have been having our delegates visit the world to prove that we are victims of piracy, but we are going to use the platform to show that we have good and quality products to let the world know who the true providers of these quality goods are,” Liu affirmed.

The President of Globe Industries Corporation, David Hwang, echoed concerns about counterfeit products, attributing the decline in profit margins to the influx of counterfeit goods from China.

Hwang emphasized the need for partnerships to address this issue and foster mutually beneficial trade relations.

Responding to the developments, the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Sola Obadimu, commended the Taiwanese focus on African businesses and the quality of their products.

He pledged NACCIMA’s continued collaboration with Taiwanese companies to drive business growth for both nations.

As Nigeria and Taiwan navigate the challenges posed by fluctuating trade volumes and counterfeit goods, stakeholders remain committed to fostering resilient and mutually beneficial economic ties.

The 2024 Taiwan Business Forum served as a platform for dialogue and collaboration, laying the groundwork for future cooperation between the two nations.

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Nigeria Advances Plans for Regional Maritime Development Bank

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Nigeria is making significant strides in bolstering its maritime sector with the advancement of plans for the establishment of a Regional Maritime Development Bank (RMDB).

This initiative, spearheaded by the Federal Government, is poised to inject vitality into the region’s maritime industry and stimulate economic growth across West and Central Africa.

The Director of the Maritime Safety and Security Department in the Ministry of Marine and Blue Economy, Babatunde Bombata, revealed the latest developments during a stakeholders meeting in Lagos organized by the ministry.

He said the RMDB would play a pivotal role in fostering robust maritime infrastructure, facilitating vessel acquisition, and promoting human capacity development, among other strategic objectives.

With an envisaged capital base of $1 billion, RMDB is set to become a pivotal financial institution in the region.

Nigeria, which will host the bank’s headquarters, is slated to have the highest share of 12 percent among the member states of the Maritime Organization of West and Central Africa (MOWCA).

This underscores Nigeria’s commitment to driving maritime excellence and fostering regional cooperation.

The bank’s establishment reflects a collaborative effort between the public and private sectors, with MOWCA states holding a 51 percent shareholding and institutional investors owning the remaining 49 percent.

This hybrid model ensures a balanced governance structure that prioritizes the interests of all stakeholders while fostering transparency and accountability.

In addition to providing vital funding for port infrastructure, vessel acquisition, and human capacity development, the RMDB will serve as a catalyst for indigenous shipowners, enabling them to access financing at favorable terms.

By empowering local stakeholders, the bank aims to stimulate economic activity, create employment opportunities, and enhance the competitiveness of the region’s maritime sector on the global stage.

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