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Investors Stake $5bn on Telecoms Every Quarter – NCC

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  • Investors Stake $5bn on Telecoms Every Quarter – NCC

Investors in the Nigerian telecommunications sector have been adding $5bn investment every quarter, the Nigerian Communications Commission has said.

The Director of Consumer Affairs at the regulatory agency, Mrs Felicia Onwuegbuchulam, said this in a presentation at the Abuja Chamber of Commerce and Industry in Abuja on Wednesday.

Onwuegbuchulam, who was represented by the Assistant Director, Consumer Affairs Bureau, Mr Ayanbanji Ojo, also disclosed that the sector’s contribution to the nation’s Gross Domestic Product had risen from 9.1 per cent to 10.5 per cent as of June 2018.

She said, “The investment in the telecoms sector as of 2017 used to be $70bn and this has been growing at about $5bn every quarter. The sector’s contribution to Nigeria’s GDP rose to 10.5 per cent as of the end of June 2018, up from the initial 9.1 per cent in 2016.

“At the end of August 2018, there were over 160.8 million active voice subscriptions, with over 104 million of this number being used to access the Internet services. These are phone numbers being used by businesses and individual subscribers across the various sectors of the Nigerian economy.

“Tele-density, which is the number of telephone lines per 100 persons in an area, has hit 115 per cent. Indeed, the growth in the telecoms industry, engendered by a sound regulatory regime, has remarkably redefined the way people live, work and play.”

Also, speaking at the forum, the Executive Vice Chairman, NCC, Prof Umar Danbatta, said the regulatory agency had directed telecom operators to roll over unused subscriber’s data within a window of 14 days after the period of validity must have elapsed.

Danbatta, who was represented by Head of Public Relations, Mr Reuben Muoka, said no subscriber should lose any unused data for Internet services at the end of the validity period without enjoying a grace period of 14 days.

The NCC boss stated, “On the quality of service issue, including poor reception, wrong billings and deductions, and automatic data rollover, among other issues, we have put the service providers on special notice about our current monitoring of user experience and will call them to account in due course.

“Where the service provider continues to fail to improve services to the detriment of the consumers, the commission will apply appropriate regulatory actions and sanctions against such service provider.”

“On this issue data rollover, the commission has directed all the service providers to give a 14-day window to the subscribers to enable them roll over their unused data, even if they do not renew on the expiration data. In other words, this will stop the current practice where subscribers lose their entire unused data if they fail to renew on the date of the expiration of the current subscription.”

He added that the commission was working to address the issue of call masking and SIM boxing, where international calls are made to bear local numbers, thereby bringing confusion to the subscribers.

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

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Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others

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Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.

 

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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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