Stakeholders in the country’s ICT sector have spoken of the need for Nigerians to brace up for the disruptions occasioned by the emergence of modern technologies, especially now that the country is on the verge of experiencing the Fifth Generation (5G) network commercial services. The Stakeholders spoke during a panel session at the Nigerian Information Technology Reporters’ Association (NITRA) ICT Growth Conference 2.0, held on Thursday at Oriental Hotel, Lekki Lagos. At the first panel discussion on the topic, “The Roles of Emerging Technologies in Bridging Nigeria’s Digital Divide and Exploring Funding Options For Driving Digital Economy,” the Stakeholders were…
Author: Elvis Eromosele
Nigeria’s crude oil revenue jumped to N11tn in the first six months of 2022, according to the latest data from the National Bureau of Statistics’ Foreign Trade Statistics for the second quarter of 2022. According to the report, this was an 83 per cent increase in crude oil earnings from N6tn recorded in the first half of 2021. A breakdown of crude oil exports in the first half of 2022 showed that in the first quarter of the year, crude oil valued at N5.6tn was exported by the country, increasing to N5.9tn in the second quarter. In comparison, in the…
Figures obtained from the Nigerian Electricity Regulatory Commission on Monday showed that power consumers in Nigeria got a total bill of N1.12tn in 2021 but paid N775.33bn, leaving a shortfall of N341.42bn. Payments were made to the 11 power distribution companies in Nigeria despite the blackouts witnessed in many parts of the country by consumers. The NERC revealed this in four of its quarterly reports, as it only completed the reports for the review year by publishing the 4th quarter 2021 report recently. An analysis of the various reports by our correspondent indicated that power users paid N186.34bn for electricity…
Mark Zuckerberg‘s personal fortune has nosedived to $76.8 billion in the last year, taking him off the list of the 10 richest people in America. He now holds the 11th spot on The Forbes 400 list of the U.S.’ wealthiest people. Four years after launching Facebook, in 2008, Zuckerberg first hit the billion-dollar mark. When he debuted at No. 321 on The Forbes 400 with a $1.5 billion net worth at age 23, he was the youngest self-made billionaire ever. Zuckerberg’s net worth climbed by about a dozen times to $17.5 billion by 2011. Following Facebook’s infamously underwhelming IPO in…
Geregu Power Plc, owned by billionaire, Femi Otedola, is set to go public this week, easing the path of the company to raising capital, according to a regulatory filing. The listing in Lagos on Wednesday will enable Geregu Power entry to the Nigerian Exchange’s (NGX) main board with 2.5 billion shares of N100 per unit by way of introduction, the company has scaled regulators’ hurdle. It suggests the corporation’s market value at listing will total N250 billion. according to NGX CEO Temi Popoola said in a letter to the company, “We look forward to hosting you at the Exchange on…
Cadbury Nigeria Plc has won a total of eight awards at the HR People Magazine Awards and Gala 2022, which was held in Lagos recently. The event celebrated excellence in the HR profession and recognised top people, initiatives and strategies that have excelled in various organisations. The HR People Magazine is a foremost publication dedicated to human resources and people development professionals in Nigeria and Africa at large. The magazine was first published in 2012 and has remained a leader in HR publications and HR Media partnerships in Nigeria and Africa. The awards are ‘Employer of Choice (under 1000 employees)’…
Although Facebook convincingly dominates the social media space with almost 2.6 billion users worldwide, TikTok is showing the highest user base growth this year. In the last year, 313 million people started using the video and photo sharing app, seven times more than Facebook`s new users, driving the total number of TikTok users to over 1.7 billion. In 2023, TikTok’s user base is set to hit 1.9 billion people worldwide. Studies predict that the number of active social media users is set to hit 4.9 billion, representing 61 per cent of the world’s population in 2023. Instagram reached over 1.2…
TikTok is launching live shopping in North America and plans to outsource its operation after the social media platform’s experiments with e-commerce in the UK struggled to take off. Los Angeles-based TalkShopLive is due to enter a partnership with TikTok on bringing TikTok Shop to the US. It will provide the underlying technology and support for live streams hosted by influencers, brands and retailers that want to sell their products on the app, said two people familiar with the operations. The companies are still finalising the arrangements and no contracts have been signed. TikTok Shop, which allows users to buy…
No fewer than five hundred (500) stakeholders are to meet in Abuja tomorrow for validation of the draft Nigeria Data Protection Bill, ahead of its transmission to the National Assembly. The Validation Meeting, scheduled to hold on Tuesday, October 4, 2022, at Nigerian Airforce Conference Centre, Abuja, is convoked by the Nigeria Data Protection Bureau, with support from the Nigeria Digital Identification for Development (ID4D) project. The Honourable Minister for Communications and Digital Economy, Professor Isa Ali Pantami shall be delivering a Keynote address at the meeting. National Commissioner and Chief Executive Officer of the Nigeria Data Protection Bureau, Dr.…
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to disconnect banks in the country from the Unstructured Supplementary Service Data (USSD) over rising debt. Members of ALTON include MTN Nigeria, Airtel, Glo and 9Mobile, and other telecom operators. Some banks and Telecom operators disagreed last year after the network providers threatened to prevent bank customers from accessing the USSD platform. The disagreement was settled after the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) intervened in the matter. A meeting between stakeholders the two industries’ stakeholders led to an increase in the USSD bank…