Akponojivi & Elohor ties the knot in Jeddo, Delta State

The daughter of Late Mr Freedom and Mrs Rosemary Oghoghome, Engr. Akponojivi Sandra marries  Pastor Elohor Obesa Egha on Thursday, August 26th and Saturday, August 28th, 2021 respectively for both the traditional ceremony and white wedding in Jeddo, Okpe Local Government in Delta State

Pastor Elohor and Mrs Akponojivi Egha at the traditional marriage on Thursday
Mr and Mrs Elohor Egha at the Reception after the White Wedding on Saturday
Effects of Twitter ban in Nigerian economy, mobile data users

By LEADWEB PRAXIS MEDIA LIMITED

 

 

Twitter is one of the largest messaging apps in the World. Others include Facebook, Whatsapp, LinkedIn etc. The platform is well known for a place of acquiring knowledge, attaining information and enabling communication between both people of different races and those of the same race.

The app was founded on the 21st of March, 2006. However, due to deletion of a tweet by the Nigerian Government, the messaging app was banned to be used by her users in Nigeria on the 4th of June, 2021.

This ban came as a shock to many people and it ignites international concerns. This is because the app has been known to be a site for voicing out your desire as a citizen. In fact, prior to the ban, the account of the former President of the United State of America, Donald Trump, was deleted and nothing happened to the “bird app” in the United State of America.

This article tends to look at the consequences/ effect of twitter ban to the Nigerian economy and mobile date usage.

Break In Communications System

The messaging app has been known to be a means of communication for different purpose including for corporation organizations. With the ban, there is a break in this communication and this greatly affects the productivity of businesses and people. Some major businesses in the country depend on the app to communicate effectively with their audiences.

In fact, the Nigerian Government that banned the app previously uses it as a means of communication to the masses. With this ban, the communication channel is broken among other deleterious effects.

Even though the app can still be assessed with the Virtual Private Network (VPN), this is still not as effective as before. Moreover, some of the VPN do not work and this greatly affects the overall efficiency of people and businesses. This subsequently has a negative effect on the economy of the country

Increase in unemployment rate

Even though the major purpose of the app is for communication between people, it has developed into a money-making machine for some people, most especially business owners. Most businesses depend on the app to communicate and advertise with their audience. Some have even built a high number of following on the app. However, with the ban, many businesses are cut off from their businesses and this greatly affects their revenue generation. This in turn affects the general outlook of the economy. In other words, the ban also adds more spices to the previous unemployment rate in the country.

Decrease In Traffic Generation For Business

Just like many other messaging apps, Twitter is also known as a traffic generation tool for businesses. This implies that businesses use it as a platform for generating leads whether organically or via paid advertisement. This greatly affects the revenue of the business as the first step in revenue generation is lead generation. Subsequently, this has a negative effect on the economic condition of the country.

Researchers have shown that many businesses that rely solely on Twitter for their businesses are now trying to adapt to another platform. Hence, many of them now resolve to building their own email list as it is not dependent on any platform and gives them the liberty of having a smooth communication with their audience at any point in time.

Negative Impact On International Relations and Trade

Most of the resources that are used in Nigeria are importer and the banning of the messaging app has a negative effect on how the international community perceives us and our trading relationship in general. In fact, many international figures stated their opinion when the declaration of the ban was made.

This in turn will affect the way the international relates with us in all sectors including the trading sector. Subsequently, this negatively affects the economy of the country and affects the way of living of Nigerians.

Social media has formed an important part of Nigerian lifestyle over the past years and with the ban, the effect is greatly felt. Apart from that, the economy of the country is also affected as many Nigerians depend on the app to generate revenue for themselves.

As the day goes by, the Nigerian Government and her economy are known to lose huge billions of dollars every month. To curb the Effect of Twitter Ban, the Government should reverse the ban as many citizens depend on the “bird app” to survive.

However, Nigerians should also start building their email list as it is the only way to boycott the negative effect of banning of any social media platforms. To know more about internet marketing and how you can make more money with your business, visit Lead Web Praxis Media Limited.

Nigeria’s small scale businesses to benefit from AfDB’s $500m fund – Osinbajo

By Favour Nnabugwu

 

The Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo, said small scale business operators will be the major beneficiaries of a $500m support fund from the African Development Bank.

Osinbajo at the 33rd Inaugural Lecture of the Babcock University, Ilishan-Remo and the 65th birthday celebration of the institution’s Vice Chancellor, Prof. Oluseyi Oduyoye small scale businesses will benefit

The VP at the lecture themed, ‘From the Small Business to Big Business: A Future with Little Hope’, noted that the fund from the African Development Bank would be be a boost to small scale enterprises, noting it would be an addition to the N75b the federal government has made available for young people and small businesses in the country.

Osinbajo further noted that it was important for the country to keep on working on its small businesses as they are the future of the country, adding that “such small businesses bring hope and job opportunities for the people”.

He added: “The Africa Development Bank (AFDB) has agreed to support the government with five hundred million dollars for small businesses, technology in particular.

“So, we think that this is something that is going to be very helpful in addition to the seventy-five billion naira fund which the Federal Government has set up for young people and small businesses.

“We must keep working on small businesses because that sector is the future of our country and those businesses bring hope, job, opportunities and I strongly believe that this is where we will love to be headed”.

The VP, while disclosing that the Federal Government after it realised that the Medium Small Scale Enterprise is the way to go, opted to have MSMEs Clinics in all the states of the federation, with a view to ensure that small businesses do not go through too much obstacles in meeting with regulatory agencies that could aid their development.

Osinbajo added that about twelve states of the federation have one-stop centers where business owners can meet with all the regulatory agencies as they all have offices in the states, saying “one of the things the Federal Government was able to do for small business owners during the COVID-19 period was the availability of MSME Survival Funds that gave almost a million business owners the needed support”.

“Our government decided to do what is described as MSME clinics, this is a commission that I have the privilege of chairing. And what do the clinics do is that we go to every state of the federation almost on a bi-monthly basis and work with state governments to support small businesses across the country.

“The clinic was designed to bring regulatory agencies whose work affect the business enterprise of MSMEs, so what we do is that we go to the state and we go with the regulatory agencies. The idea is to bring the regulatory agencies to the various states so that the MSMEs can meet with them and discuss on various problems.

“One of the things we did with MSMEs during COVID- 19 and right after it was MSMEs Survival Fund. The fund gave almost a million businesses support after the pandemic, we paid three month salaries for several MSMEs, especially private primary and secondary schools. We paid for teachers and also for several transport owners,” the VP disclosed.

Osinbajo, who pointed out that the Federal Government created resource centres in some states where clusters for farming and processing are made available, added that the resource centres would avail farmers with the needed resources to get their own equipment come together and use the equipment at the center.

Earlier, Prof. Oduyoye while calling on the Federal Government to pay more attention towards the survival of small businesses in the country, noted that small businesses often fail to develop as a result of lack of finance and harsh tax policies of government.

He also called on the FG to also ensure that it creates a body like the American Small Business Administration(SBA) and the Nigerian Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) to deal with problems of small businesses in the country.

According to him, “Small businesses when fully backed by government tend to promote the creation and advance of innovations through its close cooperation with customers”

MTN takes $280m out of Nigeria

By admin

South Africa’s MTN Group has repatriated its last year’s dividend of around $280 million (R4.2 billion) from its local unit in Nigeria. The company reported the payout on Monday during the release of preliminary financial results for the six months to June 30, 2021.

The funds from Nigeria are part of approximately $650 million (R9.3 billion) in cash the pan-African telecoms giant returned from its subsidiaries.

The Johannesburg-based group had been struggling to get dividends out of its subsidiaries due to the challenges of securing foreign currency in Nigeria and some other markets where it operates.

As a result, MTN was forced to suspend dividend payout for the 2020 financial year. The company also cited other reasons for the suspension, such as the timing of proceeds from an ongoing asset realisation programme (ARP) and the impact of the Covid-19 pandemic.

Announced in March 2019, the ARP seeks to simplify the group’s portfolio, reduce debt and improve returns. Over a three-year period, the programme is expected to bring in proceeds of at least R15 billion ($1 billion).

“Cash upstreaming from Nigeria remained challenging in terms of securing foreign currency in the market. During 2020, we upstreamed the equivalent of approximately R286 million from Nigeria, with approximately R4.2 billion yet to be repatriated as of 31 December 2020,” the company said back in March.

The group has now fully secured its cash dividend from Nigeria, in what is one of the two positive developments concerning MTN that will come as a relief to shareholders.

In addition to the news from Nigeria, MTN also revealed  “positive developments” in a United States court case related to the group and its subsidiaries, MTN Afghanistan and MTN Dubai.

According to the company, the magistrate assessing complaints of alleged violations of U.S. anti-terrorism regulation had recommended the dismissal of the case.

The Group had argued that the court has no jurisdiction over the company given it does not operate in the U.S. It also claims the complaint “does not allege any conduct by MTN defendants that violated the Anti-Terrorism Act.”

After the news of repatriating money from Nigeria and progress in the U.S. court case, MTN shares reportedly finished 6% higher on Monday at R111.30 (around $7).

The group’s complete half-year results are expected to be released on August 12 and it has told investors to expect between 75% to 85% drop in profit or earnings per share (EPS). This is due to an impairment charge involving its Yemeni business and the decoupling of its operation in Syria.

The sale of MTN Group’s 75% stake in MTN Syria is part of ongoing attempts to exit markets in the Middle East over the next three to five years, with a plan to fully focus on core African markets.

MTN plans to raise about R15 billion ($1 billion) from shareholding sales in markets outside Africa, proceeds which will be used to reduce its huge debt of nearly R50 billion ($3.5 billion) for the year to December 2020 as well as allocate more capital investments in Africa by 2025.

In Nigeria, MTN, through its local unit, has earmarked ₦600 billion ($1.5 billion) over the next three years to expand broadband access in Africa’s most populous economy.

Mobile subscribers decline in Nigeria

For MTN Nigeria, results for the past half-year showed that service revenue increased by 24.1% year-on-year, despite the number of its mobile subscribers declining by 7.6 million (nearly 10%).

In December 2020, Nigerian authorities ordered telecom companies to suspend the sale of SIM cards (until April this year). The directive was part of efforts to verify the identities of all mobile subscribers, who were asked to link their phone numbers with national identity numbers.

“Operationally, our mobile subscribers closed H1 at 68.9 million, down 9.9% from December 2020. This was due to the regulatory restrictions on new SIM sales and activations, which was lifted on 19 April 2021,” MTN Nigeria’s CEO, Karl Toriola, said on an analyst call

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While user numbers fell, MTN Nigeria company managed to increase service revenue to ₦790.3 billion (about R27 billion, $1.9 billion) driven by a surge in data usage.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 27.6% to ₦417.2 billion ($1 billion) while transaction volume for mobile money increased by 280.8% year-on-year to 55.6 million. Its total MoMo active subscribers reached 6.1 million.

MTN Nigeria aims to sustain “double-digit service revenue growth ahead of inflation, driving 4G and rural network expansion,” Toriola Saif

FRSC promotes 267 Deputy Route Commanders, 181 others

By admin

The Federal Road Safety Commission, FRSC, has approved the promotion of 264 Deputy Route Commanders, DRC, to the rank of Route Commanders, RC, and 181 Assistant Route Commanders, ARC, to the rank of Deputy Route Commanders, DRC.

The approval came at the end of the meeting of the Commission yesterday, ratifying the resolution of the Establishment Committee of Commission on promotion of promoted officers, where the exercise was assiduously deliberated upon.

The Corps Public Education Officer, Bisi Kazeem, who announced the development via a statement issued in Abuja noted that the Chairman of the Commission, Barrister Bukhari Bello who over saw the entire exercise expressed delight over the attitude of precision and impartiality that formed the precursors to the whole process.

He quoted Bello as urging the newly promoted officers to show more commitment and rededicate themselves to achieving the Corporate mission of the Corps which is to eradicate road traffic crashes and create a safer motoring environment in the country.

Kazeem added that the Corps Marshal, Dr Boboye Oyeyemi, equally stated that the promotion exercise is part of the Commission’s drive towards rewarding excellence, diligence and hard work which is in line with the administrative philosophy of the present leadership of the Corps.

He admonished the Officers to be more committed noting that their development in the Corps offers them the opportunity to shoulder more responsibilities and charged them to put in their best in the course of their duties as the new rank calls for more focus, more dedication, commitment and passion.

In the same vein, the Commission had during the meeting, equally reviewed the first and second quarter performances of the National Drivers License Identity Management and Card Production System and pledged its determination towards enhancing the system and making the processes for the acquisition of the National Drivers License easier for all applicants irrespective of their locations nationwide.

According to him, “To enhance the general performance of the system, the Corps is keen on providing Mobile Drivers License Work Stations across the country. This move is geared towards entrenching ease of doing business, encourage patronage, and ensure the eradication of encumbrances encountered by applicants especially in remote areas.

The spokesperson also quoted the Corps marshal affirming that with the existence of the present Mobile Work Stations across the country, it is apparent that the demands of applicants within rural areas where there are no capture centres will be met and the challenges they often encounter completely eradicated.

Nigerian appointed university chancellor in Scotland

By admin

 

 

A Nigerian, Yekemi Otaru, has been named Chancellor of the University of the West of Scotland (UWS).

The university, with origins dating back to 1897, made this known via a statement on its website.

Ms Otaru will formally take up the role of Chancellor at the UWS on 1 September 2021, succeeding Dame Elish Angiolini.

The 42-year-old holds four degrees and has considerable industrial experience in engineering and marketing. She is Co-Founder and Executive Director at Doqaru Limited, a prominent Aberdeen-based sales and marketing consultancy.

Otaru is also a board member of Interface, a public sector backed establishment which connects a wide range of organisations from national and international industries to Scotland’s universities, research institutes and colleges, matching them with world-leading academic expertise to help them grow. A bestselling author and social media expert, Otaru is also known for her innovative use of platforms such as LinkedIn.

As Chancellor, Otaru will hold formal powers to confer degrees, diplomas and other academic distinctions, and will represent UWS at key events as an advocate and dignitary.

Reacting to her appointment, Yekemi Otaru said, “I am honoured to have been appointed Chancellor-elect of University of the West of Scotland, following in the footsteps of a remarkable individual in Dame Elish Angiolini.

“We are all living through challenging times, and higher education plays a vital role in society and for our economy. I eagerly look forward to being part of the University, as it continues to carry out world-class research and knowledge transfer initiatives such as in the areas of healthcare and sports science,” she added.
Professor Craig Mahoney, Principal and Vice-Chancellor at UWS, added: “I am delighted with Yekemi’s appointment as the University’s Chancellor-elect. Yekemi’s values very much align with those of UWS, from her passion for advancing equality, diversity and inclusion (EDI) to her commitment to enterprise, and her appointment is reflective of our strategic mission to make a positive difference to wider society.”

Ellie Gomersall, President of the Students’ Union at UWS, said, “Yekemi is a great fit for the role as Chancellor of the University. UWS is a 21st century university and, with Yekemi’s impressive background in social media and as a woman in engineering, her modern approach will be really welcomed. I look forward to having the opportunity to work with her and see what we can achieve together.”

Yekemi Otaru is the first of three children of Dr Raphael and Mrs Sarah Awoseyin of Ayedun in Oke-Ero Local Government Area of Kwara State.

She attended Auntie Rose Primary School at Ugborikoko in Warri and from there proceeded to Federal Government College, Warri, where she did only JSS1 before going to Oman with her parents in 1990. She attended American British Academy (ABA) in Muscat, Oman and returned to Nigeria in 1994 to complete her secondary education at Greater Tomorrow Secondary School (GTSS), Benin City.

From there, she proceeded to the University of Benin where she studied and graduated with a Second Class Upper Division in Chemical Engineering in 2002.

She got married to Gabriel Oghie Otaru – a petroleum engineer with Shell Petroleum, in Port Harcourt in March 2003 during her NYSC.

On completing her NYSC, she was selected by TotalFinaElf in Nigeria to be one of the 20 pioneer intakes into the collaborative MSc Petroleum Engineering programme of France’s Institut Français du Pétrole (IFP) and University of Port Harcourt.

Otaru was one of only six graduates of that programme pioneer set offered a permanent employment by TotalFinaElf. She soon moved to the UK when her husband was transferred to Aberdeen by Shell.

In 2016, she teamed up with Sarah Downs to establish Doqaru Limited, providing knowledge-driven sales and marketing consultancy services to a variety of industries.

In 2016, Otaru was named among the top 40 under-40 business innovators by Scottish Business News.

Another Nigerian, Professor Charles Egbu, has been Vice-Chancellor of Leeds Trinity University since 1 November 2020.

Nigerians in Germany to bid Oguchi Unachukwu farewell

Oguchi Unachukwu (middle) was a beloved member of the Nigerian community in Hamburg, Germany/Photo: Private

 

By admin

 

Nigerians from across the length and breadth of Germany will gather in Hamburg today, Saturday, to bid farewell to Oguchi Unachukwu, who was shot in May while he was visiting his homeland.

Unachukwu, a very active member of several Nigerian organisations in Hamburg, was shot by a yet to be identified officer of the Nigerian Airforce on 31 May in the presence of his wife, two of his children and a relative while he was driving into the premises of the Owerri airport to catch his flight to Lagos for his return journey to Germany.

“We are appealing to all Africans, friends and well-wishers here in Hamburg and within Germany to please come out en masse and support us on Saturday, the 31st of July 2021, for the wake keep of my brother Late Mr Oguchi Unachukwu,” Chi chi Unachukwu Uwadiegwu, a brother of the deceased, appealed in a Facebook post.
Among the activities planned for the farewell on Saturday are a football match between the Nigerian Community Germany FC Hamburg and Billstrasse Boys which will take place at 2pm and a wake keeping ceremony later at 5pm.

Meanwhile, calls continue to be made to the authorities in Nigeria to identify the military officer who shot Unachukwu and bring him to justice. The issue has also been tabled in the Federal House of Representatives, with the parliamentarians calling on the military authorities to find and punish the murderer of the Hamburg-based Nigerian.

The southeastern region of Nigeria, where Unachukwu was killed, is currently mired in insecurity. In reaction to arson attacks against police stations and other government installations by unknown persons, security forces have been accused of committing extra-judicial executions and other grave human rights violations

Capital importation drops by 54% to $875m in Q2 2021

By admin

 

The value of capital importation into the country fell quarter-on-quarter, QoQ to $875.62 million in the second quarter of this year (Q2 2021).

This represents a 54 per cent decline when compared to $1.91 billion recorded in Q1’21.
In its Nigerian Capital Importation Q1/Q2 2021 report released today, the National Bureau of Statistics (NBS) said that the largest amount of capital importation by type was received through Portfolio investment, which accounted for 63 per cent ($551.37 million) of total capital importation during the period.

The bureau also noted that by sector capital importation by Banking dominated and by bank, Stanbic IBTC Bank Plc emerged at the top of capital investment during the review period.

The report stated:”The total value of capital importation into Nigeria declined to $875.62 million in Q2′ 2021 from $1.9 billion in Q1 2021.

This represents a decrease of 54 percent compared to Q1’21 and 32 percent decrease compared to Q2’20.

“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 63 per cent ($551.37 million) of total capital importation, followed by Other Investment, which accounted for 28 per cent ($246.27 million) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.9 per cent ($77.97 million) of total capital imported in Q2’21.

“By sector, Capital importation by Banking dominated in Q2’21 reaching $296.51million of the total capital importation in Q2’21.

“The United Kingdom emerged as the top source of capital investment in Nigeria in Q2’21 with $310.26 million. This accounted for 35 per cent of the total capital inflow in Q2’21.

“By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2’21 with $780.06 million. This accounted for 89 per cent of the total capital inflow in Q2’21.

“By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2’21 with $310.21million. This accounted for 35 percent of the total capital inflow in Q2’21.”

Metering: NERC names 23 companies as importers, 58 as installers

By Favour Nnabugwu

 

 

The Nigeria Electricity Regulatory Commission, NERC, has named 23 companies as importers and 58 as installers

A total of 99 companies as metering service providers for the power sector.

The commission in a notice posted on its website said the companies have been certified with some companies whose licences had expired, renewed.

A breakdown showed that 15 companies including Turbo Energy, MOMAS Electricity Meter Manufacturing Company Limited, Mojec Meter Company Limited, MBH Power Limited were certified as meter manufacturers.

Another of 23 companies including Afro-Chinese Infrastructure Investment Limited, Erasko Energy Nigeria Ltd, Tripple Seventh Nigeria Ltd, Beacon Energy Development Services Ltd and Ar-Rahman Technical Services Nigeria Limited were cleared to import meters into the country.

Also, NERC listed three companies, Lafred Engineering Limited, Global Utilities Management Company Limited and Hafmani Nigeria Limited as certified vendors.

The commission listed 58 other companies as corporate installers.

NERC had recently disclosed that 1,092,399 customers have been provided with prepaid meters, under the Meter Asset Provider, MAP, scheme and the National Mass Metering Programme, NMMP.

The commission disclosed that 508,439 customers have been metered under the MAP scheme, adding that 583,960 meters had been distributed under the MAP scheme.

It stated that 5,855 customers who had paid for prepaid meters were yet to get their meters.

Also the Meters Asset Providers last month petitioned the Federal Government over some problems, including, fixed meter pricing, unavailability of foreign exchange and Customs clearing bottlenecks.

In a communiqué issued at the end of their meeting, June 17, 2021, MAPs, had stated: “An upward review of the current price of prepaid meter by NERC in view of rising inflation, continued upward movement of foreign exchange rates, associated increases in customs costs, increase in container freight costs, and the disruptions in the international supply chain, leading to a global increase in the prices of raw materials and components for the manufacture of prepaid meters.

“MAPs, however, note that there will be a corresponding downward review of meter prices when there is a downward movement in foreign exchange rates and other cost factors.

‘’The CBN should guarantee access to foreign exchange to Local Meter Manufacturers and Assemblers for the procurement of parts and accessories (Completely Knocked Down (CKD) or Semi Knocked Down (SKD) parts) including equipment for meter manufacturing/production as well as expansion of factory infrastructure.”