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Huawei to Replicate Nigeria’s Internet Achievements in Other African Countries



  • Huawei to Replicate Nigeria’s Internet Achievements in Other African Countries

Huawei Technologies Company Limited, buoyed by the Internet solutions successes so far recorded in Nigeria, said it would replicate similar solutions in all of Africa, especially in the area of broadband services.

Speaking in response to a question on Internet solution services in Nigeria, at a press briefing on Sunday, the Director, Market Insight Department, Hauwei Carrier, Ali Long, said the information technology (IT) company is working with both government and service providers in this respect.

With about 91.8 million Internet users as at 2016, Nigeria is targeting 30 percent mobile broadband penetration by 2018, but currently at 20.9 percent penetration, mainly due to dearth of infrastructure to boost expansion.

In this regard, Huawei said it is supporting operators in strategically investigating in emerging markets for new growth. In the case of Nigeria, the company said it is working with network providers in building better and cost effective infrastructure for more efficient services.

Although the 20.9 percent broadband penetration in Nigeria is seen to be poor compared to its population estimated at over 180million, but Huawei believes this is huge compared to countries in Southern Africa with only five percent access to broadband solutions.

Furthermore, Long, who spoke ahead of the official opening of the 2017 Mobile World Congress (MWC), holding in Barcelona, Spain, noted that with “per capita usage of 170 minutes per day, Nigeria tops the world. It represents a huge market and represents a great potential.”

He disclosed that successes in Nigeria have been achieved mainly because Huawei is “working with the mainstream telecom companies (telcos), working with government in developing national ICT plans, provided services with local partners with the aim of improving services.”

Specifically, Long said Huawei is working with service providers in Nigeria, including MTN, Etisalat, Celtel, Globacom, Swift and others to manage services to drive down operating expences (Opex).

In the area of solutions, he said the company has developed many infrastructure; seeing as this is not well-established. “We have developed customised WOM solutions for Nigeria because there are fibre challenges.

“We are replicating the successful experience in Nigeria in the entire Africa. For instance, we are working with MTN to focus on customer requirements,” he added.

According to him, “in terms of content development, Huawei is providing MTN with music hosting from local and global and this is distributed to customers.”

The Executive Director of the Board/Chief Strategy Marketing Officer, Huawei Technologies, William Xu, noted that one of the challenges impeding mobile broadband penetration is lack of access smart phones.

According to him, “Smart phones are very important for broadband development, but the challenge is to provide high quality and cost effective smart phones that is acceptable to consumers.”

Xu, who spoke on “meeting user demand, contributing to a more prosperous ICT industry and enabling emerging countries for to develop their digital economies,” said Huawei is doing a lot in this regard.

In the emerging markets, in which Nigeria has been identified as a huge opportunity, Xu said Huawei “plans to develop digital services in a more intelligent and open manner.”

It also plans to “accurately identify high-value users and ensure a superior experience; develop user habits in relation to digital services; and establish an ecosystem through cooperation with content providers.”

As a result, he said by 2015, the IT company is targeting about 2 billion new mobile connections and 500 million new home broadband users, adding that 5G (fifth generation) network will change the adoption of these scenarios, which is the message Huawei is bringing to the MWC 2017.

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

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Crude Oil

Libyan Oil Field and Gas Link to Italy Reopen After Protesters Withdraw



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Following a brief interruption, operations at an oil field in western Libya and a natural gas link to Italy have resumed as protesters retreated from the facilities.

The demonstrators withdrew after receiving assurances from the government regarding their demands.

The Wafa oil field, which typically produces between 40,000 to 45,000 barrels per day, recommenced shipments after a temporary halt prompted by guards’ demands for improved compensation.

Similarly, the gas pipeline connection to Italy is once again operational, according to sources familiar with the situation who preferred anonymity due to the sensitivity of the matter.

Protests disrupting energy infrastructure and output are not uncommon in Libya.

In recent times, demonstrations have frequently disrupted operations, with the significant Sharara oil field experiencing prolonged suspension last month due to similar protests, invoking a force majeure clause in contracts.

The resumption of activities marks a relief for both the Libyan energy sector and Italy, which heavily relies on the natural gas link for its energy needs.

However, the incidents underscore the ongoing challenges faced by Libya in maintaining stability within its vital energy infrastructure amidst socio-political unrest.

Efforts to address the grievances of protesters and ensure sustained operations remain pivotal for the country’s economic well-being and regional energy dynamics.

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Crude Oil

Oil Prices Dip on Monday as Dollar Gains



Crude Oil

Oil prices experienced a downturn, extending losses from the previous session as the U.S. dollar surged against global counterparts to impact market sentiment.

Brent crude oil, against which Nigerian oil is priced, slipped by 0.2% to $81.48 a barrel while U.S. West Texas Intermediate crude (WTI) declined by 0.3% to $76.27 a barrel.

The upward trajectory of the dollar renders oil more costly for holders of other currencies, contributing to the decline in oil prices.

This downward trend follows a week of losses, with Brent declining approximately 2% and WTI falling over 3%.

Market participants attribute these fluctuations to concerns about inflation potentially delaying anticipated cuts to high U.S. interest rates. Such expectations have been suppressing global fuel demand growth.

Analysts observe a retreat in the risk-on sentiment, coinciding with heightened expectations of prolonged interest rates.

Tina Teng, an independent analyst based in Auckland, notes that the recent market rally led by Nvidia has stalled, as elevated rate expectations bolster the U.S. dollar, thereby pressuring commodity prices, including oil.

Despite geopolitical tensions such as the Israel-Hamas conflict and attacks on ships in the Red Sea, which could have traditionally boosted oil prices, the impact remains modest.

Moreover, investors are monitoring developments surrounding Russian oil supply following recent U.S. sanctions on Moscow’s leading tanker group.

Amidst these uncertainties, Qatar’s decision to increase liquefied natural gas production further adds to global energy supplies.

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Crude Oil Dips Slightly on Friday Amid Demand Concerns



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On Friday, global crude oil prices experienced a slight dip, primarily attributed to mounting concerns surrounding demand despite signs of a tightening market.

Brent crude prices edged lower, nearing $83 per barrel, following a recent uptick of 1.6% over two consecutive sessions.

Similarly, West Texas Intermediate (WTI) crude hovered around $78 per barrel. Despite the dip, market indicators suggest a relatively robust market, with US crude inventories expanding less than anticipated in the previous week.

The oil market finds itself amidst a complex dynamic, balancing optimistic signals such as reduced OPEC+ output and heightened tensions in the Middle East against persistent worries about Chinese demand, particularly as the nation grapples with economic challenges.

This delicate equilibrium has led oil futures to mirror the oscillations of broader stock markets, underscoring the interconnectedness of global economic factors.

Analysts, including Michael Tran from RBC Capital Markets LLC, highlight the recurring theme of robust oil demand juxtaposed with concerning Chinese macroeconomic data, contributing to market volatility.

Also, recent attacks on commercial shipping in the Red Sea by Houthi militants have added a risk premium to oil futures, reflecting geopolitical uncertainties beyond immediate demand-supply dynamics.

While US crude inventories saw a slight rise, they remain below seasonal averages, indicating some resilience in the market despite prevailing uncertainties.

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