Connect with us

Markets

Police Task Communities on Phone Infrastructure

Published

on

telecommunication-tower
  • Police Task Communities on Phone Infrastructure

Against the backdrop of increasing attacks on telecommunications infrastructure, the Nigeria Police Force (NPF) has called on Nigerians to protect those in their locality.

The NPF urged Nigerians to see these telephony infrastructures as a communal assests, stressing that the people should be supplying them with needed information whenever they discover anything unusual.

In Nigeria, cases of vandalism, especially on telecommunications infrastructures has remained a major challenge to operators, hindering further roll out of services in the country.

This is coming on the heels of discovery made by the Nigerian Communications Commission (NCC), which discovered about 200 new communities in the country that are yet to get telephony services.

Speaking at a sensitisation workshop organised by NCC for law enforcement agencies on telecommunications issues in the country, in Lagos, the Inspector General of Police (IGP), Ibrahim Idris, said that the police would do everything possible to protect lives and properties.

Idris represented by the Deputy Inspector General of Police in-charge of ICT, Folusho Adebanjo, called on the people to see telecommunications infrastructure within their localities as communal assets.

“The law enforcement officers must work with the community people because as they are responsible in performing their duties, the community people must see telecommunications infrastructure as communal assets and report suspected criminal activities to the police,” he said.

Also speaking, the immediate past IGP, Solomon Arase, advocated the need for a multi-layer collaboration among the NCC, Service Providers, Federal; State and Local Government, and policing agencies; evolution of national policy and ICT policy; budgetary support for strategic implementation plan; evolution of E-Corps; evolution of technology literate strategic police managers and implementation of ethical standards.

In his opening address, the Executive Vice Chairman of the Commission, Prof. Umar Dambatta, said provisions have been made in its 2017 budget to extend telecommunications services to additional 40 million people across the country.

Dambatta, represented by the Director of Public Affairs, NCC, Tony Ojobo, said that the commission had conducted a survey, which identified about 200 communities nationwide with access gap.

He said that through the Universal Service Provision Fund (ISPF) being managed by a department under NCC, 40 million people in these areas would be covered in 2017.

According to him, the empirical studies have shown correlation between usage of Information and Communication Technology (ICT) and social development.

He said that access to telecommunications services had caused direct and indirect rise in employment generation across the sectors of the economy.

“As you are aware, the growth witnessed in the telecommunications sector in the last 15 years has been phenomenalby all standards.

“From less than half a million lines on the eve of our democratic revival, today, active connected telephone lines are about 150 million, which has come with a contributing increase in tele-density.“Development in other sectors of the economy had been shaped positively and measurably by the potent realities in the telecommunications sectors.

“We look forward to seeing greater development in the sector, becausewe are irrevocably committed to full implementation of the National Broadband Plan,” he said.

He said that NCC was determined to move fast in its mandate of harnessing the potential of the ICT sector to boost national economy.

Dambatta said that the industry’s contribution to the national Gross Domestic Products (GDP) was about 10 per cent and NCC was committed to seeing greater development in the sector.

“In this respect, two Infrastructure Companies (InfraCos) have been licensed, while the remaining five companies will be licensed shortly to commence the deployment of more broadband fibre networks beyond the major cities in the country.

“Our model, anchored on robust development of infrastructure, transmission and retail segment, is expected to speed up the cascading of networks of fibre required by individuals and businesses to improve life and catalyse the economic growth,” he said.

According to him, these tasks underscore the need for collaborations with security agencies to curtail criminal assault against telecommunications infrastructure.

He said the mandate before the NCC in ensuring that the telecommunications sector contributed more to the economy triggered the zeal to perform and the need to halt obstacles to the realisation of its objectives.

The EVC said that the industry had witnessed rise in the theft of telecommunications infrastructure and vandalism of installed facilitiesand equipment.Dambatta added that the industry had witnessed usage of preregistered Subscribers Identification Module (SIM) cards, all of which were infractions of the Nigerian Communications Act 2003and other extant regulations governing the industry.

He said that while the commission rolled out various campaigns to raise awareness and made some arrest with the support of the police, there was need for effective strategies to ensure that anyone arrested was prosecuted.

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.

Continue Reading
Comments

Crude Oil

Oil Prices Continue to Slide: Drops Over 1% Amid Surging U.S. Stockpiles

Published

on

Crude Oil

Amidst growing concerns over surging U.S. stockpiles and indications of static output policies from major oil-producing nations, oil prices declined for a second consecutive day by 1% on Wednesday.

Brent crude oil, against which the Nigerian oil price is measured, shed 97 cents or 1.12% to $85.28 per barrel.

Similarly, U.S. West Texas Intermediate (WTI) crude slumped by 93 cents or a 1.14% fall to close at $80.69.

The recent downtrend in oil prices comes after they reached their highest level since October last week.

However, ongoing concerns regarding burgeoning U.S. crude inventories and uncertainties surrounding potential inaction by the OPEC+ group in their forthcoming technical meeting have exacerbated the downward momentum.

Market analysts attribute the decline to expectations of minimal adjustments to oil output policies by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, until a full ministerial meeting scheduled for June.

In addition to concerns about excess supply, the market’s attention is also focused on the impending release of official government data on U.S. crude inventories, scheduled for Wednesday at 10:30 a.m. EDT (1430 GMT).

Analysts are keenly observing OPEC members for any signals of deviation from their production quotas, suggesting further volatility may lie ahead in the oil market.

Continue Reading

Energy

Nigeria Targets $5bn Investments in Oil and Gas Sector, Says Government

Published

on

Crude Oil - Investors King

Nigeria is setting its sights on attracting $5 billion worth of investments in its oil and gas sector, according to statements made by government officials during an oil and gas sector retreat in Abuja.

During the retreat organized by the Federal Ministry of Petroleum Resources, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, explained the importance of ramping up crude oil production and creating an environment conducive to attracting investments.

He highlighted the need to work closely with agencies like the Nigerian National Petroleum Company Limited (NNPCL) to achieve these goals.

Lokpobiri acknowledged the challenges posed by issues such as insecurity and pipeline vandalism but expressed confidence in the government’s ability to tackle them effectively.

He stressed the necessity of a globally competitive regulatory framework to encourage investment in the sector.

The minister’s remarks were echoed by Mele Kyari, the Group Chief Executive Officer of NNPCL, who spoke at the 2024 Strategic Women in Energy, Oil, and Gas Leadership Summit.

Kyari stressed the critical role of energy in driving economic growth and development and explained that Nigeria still faces challenges in providing stable electricity to its citizens.

Kyari outlined NNPCL’s vision for the future, which includes increasing crude oil production, expanding refining capacity, and growing the company’s retail network.

He highlighted the importance of leveraging Nigeria’s vast gas resources and optimizing dividend payouts to shareholders.

Overall, the government’s commitment to attracting $5 billion in investments reflects its determination to revitalize the oil and gas sector and drive economic growth in Nigeria.

Continue Reading

Commodities

Palm Oil Rebounds on Upbeat Malaysian Exports Amid Indonesian Supply Concerns

Published

on

Palm Oil - Investors King

Palm oil prices rebounded from a two-day decline on reports that Malaysian exports will be robust this month despite concerns over potential supply disruptions from Indonesia, the world’s largest palm oil exporter.

The market saw a significant surge as Malaysian export figures for the current month painted a promising picture.

Senior trader David Ng from IcebergX Sdn. in Kuala Lumpur attributed the morning’s gains to Malaysia’s strong export performance, with shipments climbing by a notable 14% during March 1-25 compared to the previous month.

Increased demand from key regions like Africa, India, and the Middle East contributed to this impressive growth, as reported by Intertek Testing Services.

However, amidst this positivity, investors are closely monitoring developments in Indonesia. The Indonesian government’s contemplation of revising its domestic market obligation policy, potentially linking it to production rather than exports, has stirred market concerns.

Edy Priyono, a deputy at the presidential staff office in Jakarta, indicated that this proposed shift aims to mitigate vulnerability to fluctuations in export demand.

Yet, it could potentially constrain supply availability from Indonesia in the future to stabilize domestic prices.

This uncertainty surrounding Indonesian policies has added a layer of complexity to palm oil market dynamics, prompting investors to react cautiously despite Malaysia’s promising export performance.

The prospect of Indonesian supply disruptions underscores the delicacy of global palm oil supply chains and their susceptibility to geopolitical and regulatory factors.

As the market navigates these developments, stakeholders remain attentive to both export data from Malaysia and policy shifts in Indonesia, recognizing their significant impact on palm oil prices and market stability.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending