Connect with us


NCC: How Nigeria Attained 30.9% Broadband Penetration Target



  • NCC: How Nigeria Attained 30.9% Broadband Penetration Target

Fresh facts have emerged on how Nigeria attained and surpassed the country’s 30 per cent target for broadband penetration in December 2018.

The Executive Commissioner, Stakeholder Management at the Nigerian Communications Commission (NCC), Mr. Sunday Dare, said at the weekend that the NCC used the UN data and available statistics as baseline in arriving at 30.9 per cent broadband penetration.

According to him, the UN data has been consistent over the years, adding that the same data is equally used by the International Telecoms Union (ITU), which is an arm of the United Nations that oversees global telecoms activities.

Dare noted that Nigerians predominantly relied on mobile networks to access the internet, including broadband networks, adding that broadband penetration is typically measured by the percentage of total population with access to broadband networks.

He, therefore, explained that although Nigeria had hovered around 21 and 22 per cent broadband penetration over the last couple of years, mobile subscribers in the country as at November 2018, reached a total of 168,729,005.

Of this figure, 108,457,051, subscribed to internet access services provided by the major operators.

“In terms of broadband services, a total of 58,965,478 were connected to the internet through 3G and 4G networks, including those provided by the Long Term Evolution (LTE)-only service providers, such as Smile and nTel,” Dare said.

According to him, NCC took the total active broadband subscription figure of 58,965,478 and divided it by the country’s population figure of 190,886,311, and multiplied it by a percentage of 100, using the UN’s projection as at December 2017, and arrived at a broadband penetration percentage of 30.9 per cent.

He said issues could of course be raised about using the UN figure as baseline, but he further explained that the NCC used that figure for consistency since that appears to be the baseline used by the ITU in its earlier studies.

“This is why the World Bank asserted that increasing broadband by just 10 per cent in developing economies would deliver at least 1.38 per cent GDP increase per capita, while a 10 per cent increase in internet penetration would lead to about 1.12 per cent increase in GDP per capita”, Dare added.

Although some stakeholders are still sceptical as to how Nigeria suddenly attained and surpassed the 30 per cent broadband penetration, since the country hovered around 21 and 22 per cent broadband penetration for too long, Dare clarified that mobile broadband usage among Nigerians surged with smartphone penetration, which gave it a further boost.

According to him, as Nigerians became heavy users of smartphones to access the internet on the go, broadband penetration in the country deepened.

“As everyone knows, telecoms networks and infrastructure are critical enablers for any nation desirous of participating in the opportunities driving the next phase of world economic growth. The fourth industrial revolution demands democratised access to super-fast networks and digital platforms. Indeed, emerging economies which underperformed in previous economic evolutions have a leapfrogging opportunity, which can be realised by giving their citizens affordable access to broadband networks and digital services,” Dare said.

He explained that although the telecoms sector was faced with challenges like Right of Way (RoW) charges, tedious approval processes across the states of the federation, issues with approvals for towers and masts, imposition of unstructured taxes and charges among others, the sector still managed to attain and surpass the 30 per cent broadband penetration target.

“Despite being dogged by a myriad of issues, the sector has always held its own. Its contributions to GDP have been contritely high, peaking at 10.43 per cent in the second quarter of 2018. It has continued to boost employment both directly and indirectly, and it has provided a strong infrastructure backbone, which has facilitated higher levels of efficiency in practically all other sectors of the economy. The attainment of 30 per cent broadband penetration indeed entitles the industry to a collective pat-on-the-back,” Dare said.

He added that the NCC’s assertion that Nigeria has attained 30.9 per cent broadband penetration was logical and supported by available data in the commission’s custody.

The federal government, in 2013, issued the National Broadband Plan (2013-2018), which sets penetration targets for both fixed and mobile broadband throughout Nigeria. Of the many targets set by the document, the most prominent one was the projection that Nigeria must reach 30 per cent broadband penetration by December 2018. There was however a large dose of pessimism about the country’s ability to reach this target before the December 31, 2018 deadline. But few months before the deadline, Nigeria narrowly reached and surpassed the 30 per cent broadband target.

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.

Continue Reading


Uber Raises Tfare By 13 Percent In Lagos




The economy option for ride-share giant company, Uber, popularly referred to as UberX, has been increased by 13 percent in Lagos State.

An electronic mail message from the ride-hailing firm to its drivers stated that the increment would start from May 11, 2021.

Uber said the increase was to ensure a reliable earning opportunity for driver-partners.

“At Uber, we remain committed to providing a reliable earning opportunity for driver-partners, as well as a reliable and affordable service for riders. With this in mind, starting 11th May 2021, we are increasing prices on UberX by about 13 percent,” the message read.

Earlier, Uber and Bolt drivers under the aegis of Professional E-hailing Drivers and Partners Association, declared a strike in April in Lagos, seeking an upward review of e-cab fares to reflect the current economic

They also wanted both companies to reduce the commission charged on rides from 25 percent to 10 percent.

National President of PEDPA, Mr. Idris Shonuga, had at a news conference in Lagos, said, “Instead of fixing a new and reasonable fare in line with inflation, the companies have recklessly continued to maintain the low fare, thereby, impoverishing hard-working young Nigerians who are diligently and lawfully trying to make a decent living.”

The e-cab operators also demanded adequate welfare package for drivers and compensation to the families of those that lost their lives or are permanently disabled in the line of duty.

The association said that more than 15 drivers had lost their lives, while some had been permanently disabled in accidents in the course of the service.

It also said more than 20 others have also lost their lives through kidnapping or killed by ritualists without any compensation from the operators.

Continue Reading


CEOs of Major Tech Companies Have Sold Over $6 Billion of Their Stocks in 2021



Stocks - Investors King

Data acquired and calculated by Finbold indicates that CEOs of the five selected major tech firms have sold $6.36 billion worth of shares between January 1 and May 10, 2021.

Jeff Bezos leads, having offloaded AMZN shares worth $4.9 billion. Facebook CEO Mark Zuckerberg has sold $1.2 billion of his stock. Cumulatively, the two executives have offloaded $6.1 billion worth of shares from their respective companies.

Elsewhere, Nvidia CEO Huang Jen Hsun has sold $77.28 million worth of shares to rank third. Microsoft chief executive Nadella Satya has offloaded $65.44 million of MSFT stock, while Alphabet’s Pichai Sundar has sold $33.05 million. Among the top tech companies, only Tesla and Apple CEOs have not sold any of their stock in 2021.

Insider selling follows a surge in tech stocks

The highlighted companies have recorded a spike in the stock value over the past year, and the research report notes that:

“The sales come in the wake of tech sector stocks surging to new highs amid the coronavirus pandemic. In the pandemic, with wide-scale lockdowns, the companies run by the CEOs played a key role by offering services and products to help people manage the effects of the health crisis. The attention on these services drives the stock prices to record levels.”

Although insider trading is increasing in popularity, the activity is an essential indicator for investors to predict future price movement.

Overall, insider trades offer the overall market and investor outlook. When a single executive increases selling activity but others hold their shares, it does not call for alarm among investors.

Continue Reading


MTN Nigeria Resumes SIM Card Sales, Activation



sim card - Investors King

MTN Nigeria has resumed the sales of SIM cards across the nation, according to the latest report from the leading telecommunications company.

In a statement released on Monday, MTN Nigeria said customers can walk into any of the stores listed below to buy and activate their SIM cards.

Customers are therefore advised to visit with their National Identity Number (NIN) and any of their voter’s card, driver’s license and international passport.

The statement reads “We are delighted to inform you that SIM card sales have commenced in some select MTN stores.

“Simply walk into any of the stores listed below to buy and activate your SIM.

“Thank you for choosing MTN

“To make your experience at our store seamless and make the process faster, please be kind to come with the following:

1. Your National Identity Number (NIN) is mandatory by law for registering and activating your new SIM.

2. In addition, please come along with any one of these valid, government issued IDs:
i. Your NIN slip
ii. Your Voter’s Card
iii. Your Driver’s License
iv. Your international passport.

SIM registration cannot be done by proxy.

If you do not yet have a NIN, please click on this link Enrolment Centres – CUSTOMER NIN CAPTURE ( to find the nearest enrollment center

“We look forward to seeing you, and welcoming you to the Yello Family soon!”

Continue Reading