Elvis Eromosele In recent years, the telecommunications landscape in Nigeria has witnessed exponential growth, with an increasing number of users relying on data services for communication and connectivity. Data service has become a tremendously successful market segment for Telcos. In Q3 2023, Nigeria’s top mobile network operators, MTN and Airtel, collectively generated N403.2 billion from data services. MTN, the country’s largest telecom operator, saw a 38.9 per cent increase, reaching N279.5 billion in data revenue compared to N201.1 billion in the same period the previous year. Airtel Nigeria experienced a 29.3 per cent growth, reporting N123.7 billion in data subscriptions…
Author: Elvis Eromosele
In a resolute effort to safeguard the health and future of Nigeria’s youth, the Federal Competition and Consumer Protection Commission (FCCPC), today inaugurated the “Don’t Burn Their Future” campaign. This comprehensive initiative addresses the alarming rise in young and underage access to tobacco products and aims to curb the detrimental impact on society. Dr. Adamu Ahmed Abdullahi, Acting Executive Vice Chairman of the FCCPC who gave the keynote remark at the launch in Lagos emphasized the dynamic nature of sound health, which encompasses physical, mental, and social well-being. The campaign underscores the collective responsibility of individuals, communities, and a prioritised…
It’s been reported that Unilever Nigeria says it has stopped production and sales of home care and skin cleansing products — 10 months after the company announced plans to exit both markets. The company disclosed this in its unaudited interim financial statements for the year ended December 31, 2023, published on the Nigerian Exchange Limited (NGX) on Wednesday. On March 17, 2023, Unilever Nigeria revealed its intention to discontinue production of its homecare and skin-cleansing brands, which include Omo, Sunlight and Lux. In a statement in the company’s earnings report, Unilever Nigeria said production and sales “ceased in December 2023”.…
Several companies have felt the impact of the stringent European General Data Protection Regulation (GDPR) as various authorities strive to uphold the highest data privacy standards. In alignment with the implementation of these regulations, Meta Platform has emerging as one of the most affected entities. According to data gathered by Finbold as of January 17, Meta and its affiliated subsidiaries have accrued fines totalling $2.8 billion over a span of four years due to multiple GDPR breaches. The largest fine, totaling $1.3 billion, was imposed on Meta Platforms Ireland Limited in May 2023 for insufficient legal basis for data processing.…
Four years after the EndSARS protest that engulfed Nigeria in 2020, a report has shown that only about 3.6 per cent of affected businesses had insurance protection. The report by Intelpoint, a data and research arm of Techpremier Media on ‘The Nigerian Insurance Industry’, shows that out of 388 interviewed business owners that suffered losses during the event, only 3.6 per cent of them have insurance coverage. Babatunde Fajemirokun, managing director/CEO, AIICO Insurance Plc who wrote the foreword on the report said in the aftermath of the #EndSARS protests, the insurance industry in Nigeria emerged not just as a financial…
BlackRock, the biggest asset management company in the world, has said it is buying Global Infrastructure Partners, a company founded by Nigerian investment banker Adebayo Ogunlesi, in a $12.5 billion deal. According to a statement released on Friday, Blackrock is to pay $3 billion in cash and offer Ogunlesi and five other co-founders of Global Infrastructure Partners 12 million shares in Blackrock, thus making them the second biggest shareholders in the global asset management giant. BlackRock said it would also appoint Ogunlesi, GIP Founding Partner, Chairman and CEO, to the board at the next scheduled board meeting after the close…
The Federal Government through the Nigerian Electricity Regulatory Commission has issued 13 new licences for the generation of off-grid and embedded power, independent electricity distribution, as well as for the trading of electricity. It said the new licences were issued in the third quarter of 2023, as the cumulative quantum of electricity to be generated by the licensees was 40.9 megawatts Under the section titled, ‘Licences and Permits Issued or Renewed,’ in the latest third quarter 2023 report of NERC, it was revealed that five new off-grid generation licences that would generate 8.81MW were issued during the review period, as…
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc is Nigeria’s first hospitality group to cross the N1 trillion market capitalization level, thus admitting the company into the SWOOTs (Stocks Worth Over One Trillion) group. On Wednesday, January 10, 2023, Transcorp Hotels Plc (TRANSCOHOT) gained 7.24 per cent at the NGX to close at a share price of N100, thus taking the group to a market capitalization of N1.024 trillion. Over the past year, Transcorp Hotels has enjoyed a remarkable performance in the Nigerian Exchange (NGX). The company ended 2023 as the best-performing stock in the NGX as it…
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 28.92 per cent in December 2023. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for December, which was released in Abuja on Monday. According to the report, the figure is 0.72 per cent points higher compared to the 28.20 per cent recorded in November 2023. It said on a year-on-year basis, the headline inflation rate in December was 7.58 per cent higher than the rate recorded in November 2022 at 21.34 per cent. The report said the increase in the headline index…
By Elvis Eromosele As children, we were taught that communication is a two-way street. It’s not just about talking; it’s also about listening. It’s not only about disseminating information but also about actively listening and engaging with others. Today, as adults, we find that many didn’t learn the same lesson or else didn’t take it to heart. Experts argue that effective communication thrives on the exchange of ideas, feedback, and perspectives. When both parties actively participate in the conversation, it encourages transparency, trust, and collaboration. This two-way flow of communication helps in building stronger relationships, resolving issues more effectively, and…