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Our Target is To Reduce Data Cost to N390 Per Gigabyte By The Year 2025 – NCC

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Prof. Umar Garba Danbatta, Executive Vice Chairman of the Nigerian Communications Commission (NCC), has assured Nigerians that all hands are on deck to ensure a significant reduction in the cost of data by 2025.

During an interview in Lagos, Prof. Umar gave the assurance on reduction in data cost and also said that telecoms subscribers’ expectations from NCC are high and they want the commission to do more and diligently look into the area of fast data depletion.

While speaking, Prof. Danbatta said, “NCC is already working hard to address their concerns. We did our benchmarking recently and we discovered that the cost of 1 Gigabyte of data has come down below N500, which represents a 50 percent reduction from what it used to be.

“There is however a target to reduce data cost to N390 per Gigabyte by the year 2025 and we are almost there. The target, as enshrined in the National Broadband Plan (2020-2025) is to achieve N390 per Gigabyte in the cost of data by the end of 2025, but the recent benchmarking that the NCC did, showed that the cost of data has reduced to more than 50 percent from what it used to be at the beginning of 2020.

“For us as industry regulator, this is a good sign that data cost is coming down and that the issue data depletion as experienced by subscribers, is gradually been addressed.

“NCC has instituted a forensic audit on the cost of data, just like we did with the cost of Short Message Service (SMS) on a particular mobile operator, where we discovered that the operator unlawfully surcharged its subscribers to the tune of over N100 million and we have asked the particular operator to make refunds immediately and the operator has commenced refund to the affected subscribers. This could have gone unnoticed, if not for the quick intervention of NCC. We have plans to even extend the forensic audit on SMS to other telecoms operators.

“So like we did for SME, we are doing the same for data to find out the reason for fast data depletion and it will be carried out across all Mobile Network Operators (MNOs). By the time the audit is completed and the result is out, perhaps we will have better information of what is happening in the data segment, as it relates to fast data depletion”.

He added: “The telecoms industry is still fraught with the challenge of telecoms infrastructure deficit because of the existing clusters of access gaps in the country, which NCC is fast reducing.

“Infrastructure deficit will deprive telecoms subscribers of the right quality of service that they deserve and the NCC is working hard to address infrastructure deficit in the country in order to boost access and connectivity”

He further said that NCC needs to act in line with the government policies on infrastructure and also continue to deploy broadband infrastructure in order to solve the challenges of congestion on the networks as well as ensure the right speed of accessing telecoms services.

According to Danbatta, “Government is looking at the additional deployment of fiber optic cables in the next four years, in addition to what is currently on the ground.

“The NCC is desirous that telecoms services are pervasive and accessible to all Nigerians, irrespective of their location, even in remote and isolated communities. We need adequate infrastructure to address quality of service across networks.”

“Speed in accessing the internet is very important, hence the National Broadband Plan recommended two digits target of 25MB per sec for urban areas and 10MB per sec for rural areas of the country.

“Another area of target as recommended by the National Broadband Plan, that will enhance the quality of service, is the broadband penetration, and it recommended a target of 70 percent penetration by 2025, but there is a recent presidential order that we should attain 60 percent broadband penetration by 2023”. He added.

Prof. Danbatta explained that broadband penetration has deepened to 45.93 percent as of October 2020, from less than 6 percent it was in 2015.

Given the current statistics, Danbatta is convinced that Nigeria will exceed the projected broadband penetration of 60 percent by 2023 and 70 percent by 2025.

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Startups

Madica Empowers African Startups with $200,000 Investments Each

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Madica, a structured investment program dedicated to nurturing pre-seed stage startups in Africa, has announced its inaugural investments in three innovative ventures.

Each of these startups is set to receive up to $200,000 in funding from Madica and will participate in the program’s comprehensive 18-month company-building support initiative.

The investment program provides a personalized curriculum, hands-on mentorship, founder immersion trips, executive coaching, and access to Madica’s extensive global network of investors for follow-on funding.

The primary objective of this support is to drive growth and ensure the long-term success of the startups.

Emmanuel Adegboye, Head of Madica, expressed his excitement regarding the investments, highlighting the abundant talent and innovation present in the African tech ecosystem.

He said Madica is committed to supporting African founders who often face challenges in accessing necessary support due to perceptions of risk among global investors.

Madica employs an open application process, collaborating closely with local ecosystem players such as incubators, accelerators, and angel networks to identify and support promising entrepreneurs.

The selection process remains rigorous, with investments made on a rolling basis throughout the year.

With plans to invest in up to 10 additional startups this year, Madica aims to expand the reach of venture capital and founder mentorship across Africa, addressing the existing imbalances in funding availability.

The announcement of these investments marks a significant milestone for the selected startups, providing them with vital financial support as well as access to invaluable resources and networks to propel their growth and success in the competitive landscape of the African startup ecosystem.

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Meta’s Revenue Woes Shake Tech Industry Confidence

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The tech industry faced a wave of uncertainty as Meta Platforms Inc., formerly known as Facebook, delivered a disappointing earnings report that sent shockwaves through the market and dented investor confidence.

Meta’s forecast of weaker-than-expected sales for the current quarter, coupled with plans for higher capital expenditures, rattled investors who were eagerly anticipating robust results.

Shares of Meta plummeted by as much as 19% in after-hours trading to trigger a cascade effect across the tech sector.

The tech-heavy Nasdaq 100 Index experienced a decline of up to 1%, reflecting broader concerns about the health of the industry.

Analysts and investors alike expressed dismay at Meta’s inability to meet revenue expectations, citing uncertainties surrounding the company’s adoption and monetization of artificial intelligence (AI) technologies.

Jack Ablin, Chief Investment Officer at Cresset Wealth Advisors, highlighted the disappointment on the revenue front, overshadowing any optimism about AI adoption.

Questions lingered regarding the efficacy of AI investments and their potential benefits to users, leading to increased skepticism among stakeholders.

The repercussions of Meta’s earnings miss extended beyond its own stock, impacting other tech giants slated to report earnings in the coming days.

Alphabet Inc., Amazon.com Inc., and social media companies like Snap Inc. and Pinterest Inc. all witnessed notable declines, signaling a broader sentiment shift within the industry.

The fallout from Meta’s revenue woes reverberated across the tech landscape, affecting chipmakers, server manufacturers, and software firms. Nvidia Corp., Micron Technology Inc., and International Business Machines Corp. were among the companies affected, as investor concerns over AI investment and revenue growth cast a shadow over the sector’s outlook.

As the tech industry grapples with Meta’s disappointing results, stakeholders are left to ponder the implications for future investments and strategic decisions.

The episode serves as a stark reminder of the inherent volatility and uncertainty within the tech sector, underscoring the importance of diligent risk management and strategic foresight in navigating turbulent markets.

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TikTok Vows Legal Battle Amid Threat of US Ban

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As the specter of a US ban looms large over TikTok, the popular social media platform has declared its intention to wage a legal battle against potential legislation that could force its Chinese-owned parent company, ByteDance Ltd., to divest its ownership stake in the app.

In what amounts to a fight for its very existence in one of its most crucial markets, TikTok is gearing up for a high-stakes showdown in the courts.

The alarm bells were sounded within TikTok’s ranks as Michael Beckerman, the company’s head of public policy for the Americas, issued a rallying cry to its US staff.

In a memo obtained by Bloomberg News, Beckerman characterized the proposed legislation as an “unprecedented deal” brokered between Republican Speaker and President Biden, signaling TikTok’s readiness to challenge it legally once signed into law.

“This is an unprecedented deal worked out between the Republican Speaker and President Biden,” Beckerman stated in the memo. “At the stage that the bill is signed, we will move to the courts for a legal challenge.”

The urgency of TikTok’s response stems from recent developments in the US Congress, where lawmakers have fast-tracked legislation mandating ByteDance’s divestment from TikTok.

The bill, intricately linked to a vital aid package for Ukraine and Israel, has garnered significant bipartisan support and is expected to swiftly pass through the Senate before landing on President Biden’s desk.

Beckerman minced no words in his critique of the proposed legislation, labeling it a “clear violation” of TikTok users’ First Amendment rights and warning of “devastating consequences” for the millions of small businesses that rely on the platform for their livelihoods.

TikTok’s defiant stance reflects the gravity of the situation facing the tech giant, which has spent years grappling with concerns from US officials regarding potential national security risks associated with its Chinese ownership.

Despite extensive lobbying efforts led by TikTok CEO Shou Chew to allay these fears, the company now finds itself at a critical juncture, where legal action appears to be its last line of defense.

ByteDance, TikTok’s Beijing-based parent company, has also signaled its intent to challenge any US ban in court, signaling a united front in the face of mounting pressure.

However, navigating the legal landscape will not be without its challenges, as ByteDance must contend with both US legislative measures and potential obstacles posed by the Chinese government, which has reiterated its opposition to a forced sale of TikTok.

As TikTok prepares to embark on what promises to be a protracted legal battle, the outcome remains uncertain.

For the millions of users and businesses that call TikTok home, the stakes have never been higher, as the platform fights to preserve its presence in the fiercely competitive landscape of social media.

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