The Nigerian Communications Commission (NCC) has released its latest statistics, revealing a steady increase in broadband penetration across the country.

The data shows that Nigeria’s broadband penetration rose to 43.53% in March 2024, a significant recovery from previous declines.

According to the NCC, the total number of active internet subscriptions grew from 158.2 million in April 2023 to 164.4 million in March 2024.

This increase in internet users has been accompanied by a rise in broadband penetration, which saw a consistent upward trend over six consecutive months.

The report highlighted that broadband penetration had dropped from 48.28% in May 2022 to as low as 40.85% in September 2022.

However, it began to climb again in October 2023, reaching 41.01%, and continued to improve each month thereafter, peaking at 43.53% in March 2024.

Monthly Breakdown of Active Internet Subscriptions:

• April 2023: 158.2 million
• May 2023: 159.6 million
• June 2023: 159.5 million
• July 2023: 159.5 million
• August 2023: 159.1 million
• September 2023: 160.1 million
• October 2023: 161.1 million
• November 2023: 162 million
• December 2023: 163.8 million
• January 2024: 161.9 million
• February 2024: 163.3 million
• March 2024: 164.4 million

The report attributes the accumulation of active internet subscriptions to various technologies, including Mobile GSM, Mobile Code Division Multiple Access (CDMA), Fixed Wired, Wired and Wireless, and Voice over Internet Protocol (VoIP).

Monthly Breakdown of Broadband Penetration:

• November 2023: 41.87%
• December 2023: 43.71%
• January 2024: 42.53%
• February 2024: 43.08%
• March 2024: 43.53%

Gbenga Adebayo, Chairman of the Association of Licensed Telecoms Operators of Nigeria, commended the NCC for its regulatory efforts, which he said played a crucial role in the gradual rise in broadband penetration.

Adebayo noted that the federal government’s previous ban on SIM activation had significantly impacted broadband penetration across networks.

However, he praised the NCC for its effective regulation and called for the government to grant the NCC full regulatory independence to address key issues affecting telecom operations in Nigeria.

“The NCC’s management has done an excellent job in stabilizing and improving broadband penetration in the country,” Adebayo stated. “We hope the government will continue to support the commission’s efforts by ensuring it has the necessary autonomy to implement policies that will further enhance telecom operations in Nigeria.”

The NCC’s recent statistics provide a positive outlook for the country’s digital landscape, reflecting ongoing efforts to expand internet access and improve connectivity for millions of Nigerians.

As the country continues to recover from the post-COVID economic challenges, these gains in internet and broadband usage are seen as vital for driving economic growth and technological advancement.

The Nigerian business community was rocked by tragedy as Nick Imudia, former CEO of e-commerce giant Konga and current CEO of solar energy solutions innovator D.light, died by suicide in his Lekki apartment.

Imudia’s death, confirmed on the night of Tuesday, June 25, has left friends, family, and colleagues in a state of shock and sorrow.

According to sources, Imudia reportedly took his own life by jumping from the balcony of his home. In the moments leading up to the tragic incident, he made a series of distressing phone calls.

He reached out to his brother in the United States, giving detailed instructions on how to distribute his wealth should anything happen to him.

Imudia also spoke to his young daughter from a previous relationship, offering her comforting words and telling her to look to the sky to see him.

Imudia’s sudden death has raised many questions among those who knew him. Described by colleagues as a visionary leader, Imudia was instrumental in the growth of Konga, one of Nigeria’s largest e-commerce platforms.

After his tenure at Konga, he continued to make significant contributions to the tech industry as the CEO of D.light, a company known for its innovative residential solar energy solutions.

Imudia hailed from Ika South Local Government Area of Delta State and had a young daughter from a previous marriage that ended due to irreconcilable differences.

Despite the end of his marriage, those close to him said he maintained a strong bond with his daughter, often expressing his deep affection for her.

The reasons behind Imudia’s decision to end his life remain unclear. As news of his death spread, messages of condolence and tributes poured in from friends, family, and business associates.

Many have expressed their profound sadness and confusion as Imudia was widely seen as a successful and driven individual.

“Nick was a brilliant mind and a compassionate leader,” said a former colleague. “His death is a huge loss to the tech community in Nigeria and beyond. We are all struggling to understand why this happened.”

Authorities are investigating the circumstances surrounding Imudia’s death. Meanwhile, his family has asked for privacy as they navigate this difficult time.

Nick Imudia’s death is a stark reminder of the unseen struggles many face, even those who appear successful and accomplished.

His passing has sparked conversations about mental health awareness, urging individuals to seek help and support when needed.

SpaceX, the innovative space exploration and satellite company founded by Elon Musk, has announced a new tender offer pricing insider shares at $112 each, significantly boosting its valuation to nearly $210 billion.

The tender offer allows employees and other insiders, including early investors, to sell their shares, creating an opportunity for liquidity within the privately held company.

The decision to price the shares at a higher-than-expected valuation was driven by robust investor demand, according to sources familiar with the matter.

This new valuation sets a record for an American private company, second only to ByteDance Ltd., the Chinese parent company of social media giant TikTok, which holds a valuation of $268 billion.

SpaceX’s latest valuation places it among the ranks of the world’s largest publicly traded companies by market capitalization, underscoring its rapid growth and significant impact on the space industry.

The tender offer’s terms are still being finalized, and the size of the offer may vary based on the level of interest from both sellers and buyers.

Representatives for SpaceX have not yet commented on the specifics of the tender offer or the final valuation.

SpaceX, formally known as Space Exploration Technologies Corp., continues to make headlines with its ambitious projects and technological advancements.

The company has successfully launched numerous missions, including crewed missions to the International Space Station, and has been at the forefront of developing reusable rocket technology.

Also, SpaceX’s Starlink project aims to provide global satellite internet coverage, further expanding its influence and market reach.

The increased valuation reflects investor confidence in SpaceX’s future prospects and its potential to revolutionize both space travel and satellite communications.

As the company continues to push the boundaries of space exploration and technology, its rising valuation underscores its status as a leading force in the industry.