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Research Shows Nigeria’s Internet Affordability Remains Poor



Nigeria Internet Users

Nigeria has one of the most expensive broadband in Africa, says a research conducted by online car marketplace, The study, which showed Nigeria with deep internet penetration of up to 200 per cent, noted that the country still lags behind when it comes to affordable internet as broadband gulps up to 30 per cent of household income.

According to Vanguard report, “Carmudi Nigeria’s research showed an increase in 2013 when Nigeria’s internet penetration grew by 200 per cent overtaking South Africa’s 60 per cent to become the country with the largest number of internet users in Africa. South Africa’s internet penetration became the second highest for all African countries and in third and fourth places is Morocco with 55 per cent and Egypt, 44 per cent. This is well above the figure of 16 per cent for Africa as a whole, and is comparable with 31 per cent for developing countries worldwide.”

On the real cost of broadband access across surveyed countries, the report also noted that, “A survey on price range of internet service distributed by Carmudi across African countries showed that unlimited fast and reliable internet in Togo cost as low as N5000 for a month while the same quality of internet in Ghana cost less than N100 daily. In February 2015, a Rwanda 4G internet provider slashed its tariff by 70 per cent automatically becoming the cheapest internet service in Africa.” The report further noted that Nigeria ranks seven when its internet tariff is gauged on a scale of one to ten in the affordability index, making it more expensive than most African countries.

Recall that in 2013, Nigeria ranked 142 out of 169, on affordability rating for fixed internet broadband and it seems not much has changed.

Speaking on the report, Managing Director of Carmudi Nigeria, Amy Muoneke, said: “There are now more than 35 mobile network operators in Africa busily extending their base station networks to improve coverage and it is our hope that in the near future, broadband in Nigeria will become more affordable so as to contribute more revenue to the country’s GDP and also the ever growing e-commerce industry.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


FG Introduces NEXIT Portal for Npower Batch A and B Beneficiaries



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The Federal Government has introduced a new online portal for exited Npower beneficiaries of batch A and B.

According to the Minister for Humanitarian Affairs, Sadiya Farouq, the portal was launched in collaboration with the Central Bank of Nigeria (CBN) to enable exited Npower beneficiaries apply for available federal government empowerment options.

This was disclosed in a statement issued by Nneka Anibeze, the media aide to the minister, on Friday.

The ministry said the NEXIT portal will be used to determine the suitability of exited beneficiaries for various CBN-affiliated programmes.

She explained that selection will be based on the conditions and criteria set by the apex bank.

Ms Farouq, therefore, urged interested exited Npower beneficiaries to log on to the NEXIT portal and provide the required additional information for possible placements into central bank’s intervention options.

The Minister expressed her deep appreciation to the CBN Governor Mr Godwin Emefiele CON for his support adding that the Ministry of Humanitarian Affairs remained committed to the vision of Mr President to lift 100 million Nigerians out of poverty in the next 10 years.

“Minister Umar Farouq pledged the Ministry’s willingness to collaborate with relevant agencies of government and other stakeholders towards the realization of that vision and congratulated the exited beneficiaries while wishing them well in their future endeavours.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavours.”

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Ellah Lakes Partner Ondo State Government to Develop Oil Palm, Cassava in the State



The management of Ellah Lakes Plc said it has partnered with Ondo State Government to develop and manage 5000 hectares of land for the purpose of cultivating oil palm and cassava in Ondo State, Nigeria.

The company stated in a statement signed by Kenechi Ezezika, Company Secretary, Ellah Lakes Plc.

Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in the development of our landbank, & we are very excited to be working with ODSG.

I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank & diversifying our portfolio and production base. I am also glad to say that the intercropping programme in Edo State is progressing steadily & we have achieved our first milestone of 100Hectares of Cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State”.

The Special Adviser on Development & Investment to the Ondo State Governor/ Chief Executive Officer of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Akinboye Oyewumi, who also spoke on the development said: “We are pleased with this collaboration with Ellah Lakes Plc., and we look forward to a mutually beneficial, valuable and fruitful venture.”

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Unilever Nigeria Appoints Mr Jaime Aguilera as a Non-Executive Director



Unilever Nigeria Plc

Unilever Nigeria Plc announced it has appointed Mr. Jaime Aguilera as a Non-Executive Director of the company effective from January 2021.

The company stated in a statement filed with the Nigerian Stock Exchange.

Mr Jaime Aguilera worked with Coca-cola, Nestle and Procter & Gamble before joining Unilever as Executive Vice President Unilever Eastern Europe in September 2016.

Therefore, his experience spans from Europe, Americas and Asia.

His key expertise areas are “in Sales & Marketing and he has lead teams in Spain, Brazil, South Eastern Europe, Middle East, Mexico and Global teams.

“In 2009, he joined Unilever Spain as EVP & Chairman and then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa. Jaime is of Spanish origin and is an alumnus of the Universidad Pontificia de Comillas- ICADE. Jaime majored in Economic Sciences, Management & Business Administration.”

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