- Abuja Residents to Enjoy High-Speed Wi-Fi Hotspot Network
A multimedia company, LEGEND, said it has deployed a municipal Wi-Fi network in the Federal Capital Territory (FCT) to enable it join over 100 cities across the world in enjoying limitless access to Wi-Fi network.
A Municipal Wi-Fi network is a chain of hotspots connected through a type of wired or wireless backhaul system using a cluster of Wireless Access Points (APs).
The Chief Marketing Officer of the LEGEND brand – Gabriel Gab-Umoden told journalists yesterday, that Abuja is now the 4th city to get this network in Africa, adding that Municipal Wi-Fi networks provided added advantages to the citizens.
Among the advantages according to Umoden is that wireless infrastructure can provide low-cost or free Internet access to those in need, and could aid in a program to make computers — and Internet access — available to disadvantaged families.
In addition, Umoden said: “CCTV security systems, access to emergency services and online city directories can ride on the back of a municipal Wi-Fi network, ensuring the security and safety of citizens.”
He explained that Wi-Fi hotspots are powered by fiber-optic cable connectivity, which means that these networks possess huge bandwidths that allow for heavy usage from multiple users without compromising speed.
For instance, he said that users who like to download or stream, will find these Wi-Fi networks very conducive for such activities.”
“Wi-Fi access can range from free to as low as N3,400 per month, for unlimited access, any time of the day. This represents significant value for money and relieves the citizens from huge monthly Internet Service Provider fees.”
“With such a widespread network, citizens can now have ubiquitous access to a high quality, affordable network and can be more flexible in their subscription plans, not having to tie themselves down to bulky contracts / monthly service fees.”
Gab-Umoden also explained that Legend has developed a robust network of fiber optic backbone across the Abuja metropolis, saying “this dense fiber-optic network is being used to power a chain of Wi-Fi hotspots with super-fast internet, accessible by thousands of users at a time. These hotspots are called Legend Zones and they are the building blocks of Abuja’s first Municipal Wi-Fi network.”
On where to get access, Gab-Umoden said that there are currently 50 Legend zones located in strategic locations across the Abuja metropolis, with another 50 in deployment.
Lengend’s plan is to deploy 1,000 hotspots by June 2017, thereby creating a widespread and contiguous municipal Wi-Fi network in Abuja.
Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd
The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.
The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.
The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.
The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.
Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.
The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.
Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins
Oil Prices Recover from 4 Percent Decline as Joe Biden Wins
Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.
This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.
Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.
On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.
“Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.
“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”
The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.
“There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.
“Either you’re crimping energy demand or consumption behavior.”
Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020
Revenue of OPEC Members to Drop to 18 Year Low in 2020
The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.
EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.
“If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.
The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.
It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.
It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.
“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”
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