A new report by Terragon Group has shown that more Nigerians are using the internet, with about 63% of them using it for personal purposes.
According to the report Digital Trends for Nigeria in 2018, the total number of internet users currently stands at 100.5 million people, with some 22 million of them actively using social media for a whole lot of activities.
As such, social media is one of the areas with the highest growth rate, even as more Nigerians are adapting to it for digital marketing purposes while also increasing opportunities for brand-consumer interactions across all business verticals.
The exponential growth of social media is followed only by “search”, which is the second most engaging activity on the internet by Nigerians.
Out of all the social media platforms that are available, Facebook maintains the widest reach, with a total of 22 million Nigerians actively using it on a monthly basis. However, in a rather surprising disclosure, Instagram posted higher engagements with 10x higher than Facebook and 84% more than Twitter.
Nigerians have increasingly relied on Instagram for sharing images and short videos, news, fashion and even e-commerce. Small Business have also relied heavily on Instagram for their social media marketing and brand building. The report, however, leaves out WhatsApp, a very popular social media application in Nigeria.
More Nigerian males are accessing the internet, albeit through mobile devices
The report revealed that male internet users dominate the internet space by 58%, with the female folk at 42%. Interestingly, Nigerian men are also more active on all the major social media platforms. For instance, Facebook has 64% male active users, Twitter has 68% male users, YouTube has 69% active male users, and even Instagram has 60%, male users.
Meanwhile, most of the active users access the internet with their mobile devices, so much so that Nigeria ranks as the country with the highest number of mobile users in the world. This, therefore, indicates that one of the best ways to target Nigerians on the internet is through a mobile-first approach.
A changing marketing paradigm
The report also shows that Nigerians are increasingly using the internet for commercial activities more than ever before. This is fueled by digital advertising, which targets millions of Nigerians that are online.
The advertisements come in various forms, even as Nigerians are particularly receptive to ads that come in video forms. Interestingly, internet users in Nigeria are said to purposely look out for video reviews that are related to the products and services that they wish to buy. Consequently, more brands are making use of such social media platforms to reach more people with such ads; leveraging social media influencers in this regard.
Online marketing is also becoming increasingly personalised by “offering consumers
personalised content in order to connect with them on an individual level.”
“The days of mass marketing are dead. It is necessary to incorporate personalisation into marketing strategies by offering consumers content that is tailored to them in order to connect with the audience on an individual level. Businesses also need to exploit analytics for predictive intelligence to anticipate consumer needs and achieve business success.” – Terragon Group
You can read more on this report by clicking here.
COVID-19: WHO reverses itself based on new discovery about the virus
This admission is coming on the heels of criticisms from experts.
The World Health Organization (WHO) has provided an update on the modes of transmission of SARS-CoV-2, the virus that causes COVID-19, from infected people, based on new scientific evidence.
The WHO on Thursday, formally recognized that the coronavirus can be transmitted indoors by droplets in the air, marking a reversal for the United Nation’s agency.
In a scientific brief, the WHO said that people who spend time in crowded places with poor ventilation are at risk of being infected by the coronavirus as the droplets circulate throughout the air in indoor gatherings.
This admission is coming on the heels of criticisms from experts who have been putting pressure on the UN health agency to update its description of the spread of the virus to include the possibility of airborne infections.
The WHO now admits that transmissions through aerosols, or tiny air droplets, could have been behind outbreaks of COVID-19 that have been reported in some closed environments such as restaurants, nightclubs, places of worship or places of work where people may be shouting, talking or singing.
Apart from refraining from having close contact with infected people and frequent hand-washing, the WHO pointed out that people should avoid crowded places, close-contact settings, and confined and enclosed spaces with poor ventilation.
However, the WHO still focuses more on the spread of the virus by larger droplets that are discharged through coughing, sneezing and singing or from contact with a contaminated surface.
The WHO in its statement said, “Respiratory droplet transmission can occur when a person is in close contact (within 1 metre) with an infected person who has respiratory symptoms (e.g. coughing or sneezing) or who is talking or singing; in these circumstances, respiratory droplets that include virus can reach the mouth, nose or eyes of a susceptible person and can result in infection.”
It also revealed that based on what is currently known, the transmission of COVID-19 primarily occurs from people when they have symptoms and can also occur just before they develop symptoms when they are in close proximity to others for prolonged periods of time. While someone who never develops symptoms can also pass the virus to others, it is still not clear to what extent this occurs and more research is needed in this area.
The UN health agency had previously advised that the spread of the virus through the air is only common when people, mostly health care workers, were involved in medical procedures that produced aerosols, though a lot of evidence has surfaced suggesting that the virus can stay in the air for hours and infect a person when inhaled.
DisCos seek CBN funding for massive roll-out of meters to consumers
This, it was said will help DisCos meet the 2024 deadline which they had committed to.
A Central Bank-funded massive roll-out of meters would expedite the efforts to achieve the full take-off of the proposed Service Reflective Tariff (SRT), Electricity distribution companies (Discos) have suggested.
According to Mr Sunday Oduntan, the Executive Director in charge of research and advocacy at the Association of Nigerian Electricity Distributors (ANED), such funding would help ensure that all electricity customers are adequately metered under the Meter Asset Provider (MAP) regulation.
Oduntan, who said this in a statement to NAN on Friday, also disclosed that it would assist the distribution companies to meet the 2024 deadline which they had committed to, for metering all electricity consumers.
He recalled that Mr Ernest Mupwaya, Managing Director of Abuja Electricity Distribution Company (AEDC), had spoken on behalf of the DisCos at the House of Representatives Public Hearing on the power sector on Thursday.
According to Mupwaya, the Capital Expenditure (CAPEX) provision in Nigeria’s electricity tariff was insufficient to cover the cost of metering customers.
“Over the years, there has been insufficient investment in customer metering, due to inadequate Multi Tariff Order (MYTO) CAPEX and uneconomic tariff. The approved CAPEX for DisCos has never been adequate for comprehensive metering,” he said.
He added that the Discos were requesting CBN to provide funds for emergency mass metering projects since they no longer had a provision in their CAPEX for metering. If approved, the project would be completed within a period of 18 months.
Mupwaya added that the funding was even more necessary since no provisions had been made for metering in the event that the MAP regulation failed.
The first quarter of 2020 had seen an average monthly growth of 75,000 new customers every month, moving the number of metered customers in Nigeria above 10 million, and decreasing the metering penetration from 45.5 percent in January 2017 down to 40.3 percent in March 2020.
“Plugging the metering gap that is in excess of six million meters has been slow because even the recently introduced MAP regulations incorporate inappropriate meter pricing and so, it is not working as NERC/DisCos expected.
“The twin effects of the sudden increase in import duties of 35 percent on meter and NERC’s wrong pricing frustrated the good intentions of MAP” he noted.
He appealed to the government to grant full waivers on the 35 percent increased duty surcharged on meters, until mass metering was achieved, and to fix an appropriate and commercial price on meters.
He added that the cap on estimated billing had discouraged consumers from obtaining meters under the MAP regulation, and urged the NERC to allow Discos go ahead with estimated billing, introducing the capping only after the massive meter roll-out after 18 months.
Deals: Dangote Sugar acquires Savannah Sugar Company Limited
Dangote Sugar Refinery will henceforth assume all legal proceedings.
Dangote Sugar Refinery has been authorised to receive all the assets, liabilities and business undertakings, and property rights of Savannah Sugar Company Limited (SSCL).
This was one of the resolutions passed at the court-ordered meeting of the members of Dangote Sugar Refinery Plc held on Thursday at the Eko Hotel & Suites, Victoria Island, Lagos.
According to the notice of the proceedings sent to the Nigeria Stock Exchange, and seen by Nairametrics, Dangote Sugar Refinery “is hereby authorised to receive all the assets ((including all tax attributes, unutilized capital allowances, tax losses, withholding tax credits and any other tax refunds available subject to the approval of the FIRS), liabilities and business undertakings, including real property and intellectual property rights of Savannah Sugar Company Limited (“SSCL”) transferred by SSCL to the Company (pursuant to the Scheme of Arrangement between SSCL and its shareholders) upon the terms and subject to the conditions set out in the Scheme of Arrangement without any further act or deed”.
Dangote Sugar Refinery will henceforth assume all legal proceedings, claims and litigation matters pending or contemplated by or against Savannah Sugar.
In view of this acquisition, the court also ordered Dangote Sugar Refinery to issue and allot to the shareholders of Savannah sugar, 146,878,241 ordinary shares of N0.50 each in the share capital, for the 162,756,968 ordinary shares held by the Scheme Shareholders in SSCL.
The Scheme Document dated Friday, May 29, 2020, was also approved at the meeting, and Directors of DSR were authorised to consent to any modifications that the Securities and Exchange Commission may deem fit, and give effect to the scheme.
Dangote Sugar Refinery had earlier sent a disclosure notice to the NSE, announcing its plans to acquire Savannah Sugar Company Limited, subject to the approval of both company shareholders.
Dangote industries recently sold its flour subsidiary, and this acquisition is part of an expansion strategy for Dangote Sugar Refinery, and the next stage of its backward integration plan to revolutionize the sugar sub-sector of Nigeria’s economy.