The Nigerian Communications Commission (NCC) has held a Virtual Stakeholders’ Forum to discuss the Draft Application-to-Person (A2P) Messaging Services Licensing Framework. This event underscores the Commission’s unwavering commitment to fostering innovation, protecting stakeholders, and creating a regulatory environment that ensures the continued growth of Nigeria’s telecommunications sector. In his welcome address, Dr. Aminu Maida, Executive Vice Chairman (EVC)/CEO, NCC, emphasized the importance of collaboration in shaping a comprehensive licensing framework for A2P messaging services. He reiterated the NCC’s commitment to creating a regulatory environment that promotes growth and innovation within the sector. “The Nigerian Communications Commission remains committed to providing…
Author: Elvis Eromosele
MTN Nigeria Plc has reportedly successfully raised an additional N72.18 billion through the issuance of commercial papers. This latest funding round follows a previous N75 billion issuance in November 2024, demonstrating strong investor confidence in the telecom giant. The Series 13 and 14 commercial papers were issued at attractive yields of 27.50 per cent and 29.00 per cent, respectively, with a maturity period of 180 and 270 days. The oversubscribed offer, which attracted a 144 per cent subscription rate, underscores MTN Nigeria’s strong financial position and brand reputation. The proceeds from this issuance will be utilized to support the company’s…
Omolola Oloworaran, Director-General of the National Pension Commission (PenCom), has revealed that pension fund assets in Nigeria reached N21.92 trillion in October 2024, amid challenges that persist in the industry. Oloworaran who made this disclosure on Thursday, noted that the challenges are being addressed through several initiatives, including a comprehensive review of the Investment Regulations, among others. She stressed that the organisation is addressing the economic realities and challenges that have eroded the real value of pension funds in Nigeria. She shared developments within the Commission during the 2024 PenCom Media Conference. The event was themed “Tech-Driven Transformation: Shaping the Pension…
By Elvis Eromosele The Nigerian banking system, once celebrated as the backbone of the nation’s economy, is facing a glaring paradox. Customers walk into bank branches daily to access their funds, only to be told that cash is scarce. The situation, which began following the Naira redesign exercise under former President Muhammadu Buhari, has become a troubling norm. Bank tellers now ration cash withdrawals, often imposing arbitrary limits like N20,000 per person, without detailed explanations. This raises an unsettling question: is there a hidden liquidity crisis in the Nigerian banking system? The central function of a bank is to provide…
For the thirteenth consecutive year, Nestlé Nigeria has empowered more than twenty young Nigerians through the Technical Training program in its factory at Agbara. The participants received scholarships and training to attain the highly recognized City Guilds certifications. In addition, the top five students were given the opportunity to conclude their training with an eight-week apprenticeship at two of Nestlé’s technical sites in Switzerland (Orbe and Broc). Equipped with their newly acquired skills, the graduating batch are ready to embark on their engineering careers with Nestlé in Nigeria. The Nestlé Technical Training Program in Nigeria is part of Nestlé’s global…
…delivers 6MW Solar Power, 24.5MWh Energy Storage LEDCo Limited is proud to announce its partnership with the Lagos State Government for the implementation of a landmark Solar Street Lighting Project. The new project will see the deployment of 20,000 units of LEDCo’s state-of-the-art NightSUN, an all-in-one solar light across Lagos. Each NightSUN unit integrates advanced technology, including smart monitoring systems, GPS tracking, and a robust 10-year warranty, ensuring reliability and efficient operation. In addition, the project will deliver 6MW of renewable solar power and 24.5MWh of energy storage, further enhancing public safety, urban mobility, and the sustainability of Lagos State’s…
Babajide Sanwo-Olu, Lagos State Governor, has signed the Lagos State Electricity Law 2024 into effect to tackle the challenges of access to electricity in the state. This groundbreaking legislation aims to transform the state’s power sector, ensuring reliable and sustainable electricity for over 24 million residents effectively promoting economic growth across key industries such as ICT and telecommunications. It would be recalled that Nigeria’s national electricity grid has collapsed six times in 2024 alone. These disruptions have caused significant financial losses, particularly in energy-dependent sectors like telecommunications and ICT. The new law allows Lagos to generate, distribute, and regulate its…
Nestlé Professional, the Out of Home business arm of Nestlé Nigeria and a leading provider of food solutions, recently introduced the Affordable Nutrition option, Maggi Soya Chunks, to food vendors, chefs and event planners during the Lagos edition of the Business of Food workshop. Canteens, grillers, Maishais, and bukas play an integral role in providing daily nutrition to bustling urban areas. However, they face challenges in managing their businesses amidst rising costs, often leading to a reduced focus on providing adequate nutrition in favour of profit. The Business of Food series, now in its ninth edition, has empowered over 2,000…
The National Bureau of Statistics (NBS) has revealed that an estimated 1,134,828 from 251,082 households are internally displaced in Nigeria. A report by the bureau stated that Borno state recorded the highest number of displaced households, with 206,753, while 877,299 were internally displaced, representing 77.3 per cent of the entire surveyed population. It stated that the survey was conducted in 2023 across seven states of Adamawa, Yobe, Borno, Sokoto, Katsina, Benue and Nasarawa. “The findings show that Boko Haram insurgency reported 81.2 per cent, farmers/herders clash (16.2 per cent), banditry/kidnapping (1.6 per cent) as the major sources of displacements. This…
Jubilation filled the air at Lafarge Golf Club Sagamu as Akonte Ekine, playing off a handicap of 28 using 5 Iron, etched his name in history by achieving a spectacular hole-in-one. Wearing his signature Titleist cap and using a Taylormade 3 ball, Akonte delivered the remarkable shot on the 16th hole. The 128-meter par-3, notorious for its combination of water hazards and massive, towering and imposing trees, became the stage for this momentous feat under the scorching afternoon sun. A hole-in-one, also known as an ace, occurs when a golfer strikes the ball directly from the tee into the cup.…