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Business News

Network operators struggle to keep users as porting continues

More and more Nigerians are continuing to port in search of better voice and internet services. In January 2019 for instance, 9Mobile recorded the highest outgoing subscribers who ported to other available network providers.

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MTN Nigeria shares, Airtel Afrrica shares, Glo subscribers, 9mobile subscribers, Internet speed, Mobile Phone user, MTN bans Glo calls, MTN lift ban on Glo calls

More and more Nigerians are continuing to port in search of better voice and internet services. In January 2019 for instance, 9Mobile recorded the highest outgoing subscribers who ported to other available network providers.

The company, which is currently experiencing an in-house rancour among its core investors as well as ownership issues, also recorded the highest number of incoming subscribers despite its subscriber base dropping to its lowest in seven years.

According to the Nigerian Communication Commission (NCC), a total of 2000 mobile users ported to 9mobile in January 2019.

MTN Nigeria recorded the second highest incoming subscriber, with 1,494 new users porting to the market leader. It also recorded the lowest exit of users in January, after seeing 1,072 users ported to its rivals.

Airtel Nigeria was third on the list of incoming with 1,072 new users, while 1,404 of the company’s already existing customers ported to other network services.

Meanwhile, Globacom recorded the lowest incoming users with 817, even as 1,187 users left the service provider to sample the services of its competitors.

MTN, Airtel grow subscriber base while 9mobile, Glo drop

MTN Nigeria continues to maintain its leadership position in the Nigerian telecommunication industry after recording about five percent growth in its subscriber base for the period of January 2019.

The Nigerian Communication Commission (NCC) reported that MTN Nigeria‘s subscriber base grew from 43.8 million in December 2018 to 45.9 million the month after.

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Following MTN‘s growth step is Airtel Nigeria which recorded two percent to hit 30.4 million subscriber base in January from 29.7 million in December 2018.

While MTN and Airtel recorded growth in January, Glo and 9mobile dipped by two percent and -0 percent respectively. In December, Glo accounted for 28 million subscribers, but dropped to 27.6 million users in January. Also, 9mobile dropped to 9.8 million from 9.9 million subscribers between December and January.

Why 9mobile and Glo’s customer base dropped: 9mobile could have lost some of its users due to the company’s ownership tussle that has seen some core investors taking the company to court. This has resulted in uncertainty over the telecoms’ future and long-term plan.

While for Globacom, users of the domestic network operators have often complained of the company’s poor network service. This could have contributed to the drop recorded in its customer base.

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Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Business

FG explains why Lagos-Ibadan rail line was not linked to the sea

The government in its explanation said that the delay was due to disruption by trucks going in and out of the port complex.

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FG needs $656 million to complete Lagos-Ibadan railway project – Amaechi, Nigeria loses N150 billion annually to shipping tariffs, Ibadan to Kano rail construction

The Federal Government has stated why the China Civil Engineering Construction Company (CCECC) Nigeria Limited could not link the final part of the Lagos-Ibadan rail line to the sea.

The government in its explanation said that it was due to disruption by trucks going in and out of the port complex.

According to a press statement signed by the Director, Press and Public Relations of the Federal Ministry of Transportation, Eric Ojiekwe, this disclosure was made by the Minister of Transportation, Rotimi Amaechi, while on a routine tour of the Lagos-Ibadan rail line project on Saturday, April 10, 2021.

The Minister pointed out that the original blueprint for the Lagos-Ibadan rail line project was not adhered to by CCECC Nigeria Limited and TEAM consortium and therefore warned that the master plan of the soon to commence Ibadan-Kano rail line project should not be changed.

The statement from the ministry partly reads, “The Nigerian Government has restated its commitment to connect the whole country by rail with the soon to commence Ibadan-Kano Standard Gauge Rail project.”

Amaechi forewarned that the master plan of the soon to commence project should not be changed as the original blueprint for the Lagos-Ibadan wasn’t adhered to by Messrs CCECC Nigeria and TEAM consortium. The Minister who rode the train from Ebute-Meta to the 8.72 km Apapa Port Spur line, informed the media that the inability of Messrs CCECC Nigeria to link the final part of the rail line down to the sea is rather due to disruption by trucks going in and out of the port complex.’’

The Minister had noted that the Federal Government has paid its share of the counterpart funding of the Ibadan-Kano rail line project and is waiting for China-Exim bank to ratify its side of the agreement for the project to commence.

He also advised the Nigerian Railway Corporation (NRC) to acquire more land around the train stations and the rail tracks for future development adding that this will be near impossible to do in the future as whatever space available now would have been taken over by businesses attracted to the rail line.

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In case you missed it

It can be recalled that full commercial train services commenced on the Lagos-Ibadan rail line after train operations commenced on December 7, 2020, with only Lagos, Ibadan and Abeokuta residents enjoying the train services.

This is because other minor and major stations along that route were yet to be completed.

 

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Manufacturing

Industrial Index loses -12.39 points, as BUA and Lafarge Cement shares top losers list

The NSE Industrials index lost 12.39 index points in the first trading week in the month of April.

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Manufacturing: Activity levels pick up albeit readings still below water

The Nigerian Stock Exchange Industrial Index at the close of trading activities for the first week in the month of April closed on a bearish note, following a 0.66% decrease in the shares of BUA CEMENT and Lafarge.

At the close of trading activities on the Nigerian Stock Exchange on the 9th of April 2021, the industrial index depreciated by 55.01 index points, to close lower at 1,928.18 index points for the week.

When compared to the overall performance of the market, the NSE Industrial index underperformed, noting that the NSE All-Share Index and Market Capitalization depreciated by 0.66% to close the week at 38,866.39 and N20.3350 trillion respectively.

READ: COVID-19, VAT, FX scarcity adversely impacted our operations in 2020 – Nigerian Breweries boss says

What you should know

The NSE Industrial Index was designed to provide an investable benchmark to capture the performance of the Industrial Sector. It comprises the most capitalized and liquid companies in the industrial sector and is based on the market capitalization methodology.

The index tracks the performance of ten industrial companies on the Nigerian Stock Exchange which includes Dangote, BUA, and Lafarge Cement.

The overall performance of the companies for the week was bearish, as the index closed on a negative note driven by the decrease in the share price of BUA Cement and Lafarge.

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MEYER (19.51) was the only gainer for the week, while BUACEMENT (-1.09%) and LAFARGE WAPCO (-3.00%) were the only losers for the week.

GAINER

  • MEYER up by19.51% to close at N0.49.

LOSER

  • WAPCO down by -3.00% to close at N21.00.
  • BUACEMENT down by -1.09% to close at N72.70.

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