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Business News

9mobile drops again as mobile subscribers rise to 119.5 million

Data released by the Nigerian Communications Commission, today, has revealed that Nigeria’s total mobile internet subscribers climbed to 119,506,430 subscribers in April 2019, up from the 115,938,225 obtained in March 2019.

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Data released by the Nigerian Communications Commission, today, has revealed that Nigeria’s total mobile internet subscribers climbed to 119,506,430 subscribers in April 2019, up from the 115,938,225 obtained in March 2019.

The data shows that during the period, a total of 3,568,205 new mobile internet subscribers were added to the subscriber base in the country’s telecoms sector. This indicates about 3.1% increase from the March figure to the current figure of 119.5 million subscribers.

The data further revealed that Airtel, MTN, and Globacom gained more subscribers to their networks. 9mobile, on the other hand, lost some customers to emerge the highest loser.

Number of subscribers by market share

source: NCC

Analysing the Market Data: Airtel has 26% market share in Nigeria which accounts for over 45.4 million subscribers on the network.

Nigeria’s telecommunication giant, MTN, which has the largest market share of 37%, boasts of over 64.7 million active subscribers. This figure is not inclusive of the 117 thousand subscribers owned by Visafone, which was purchased by MTN in 2015 translating to a 1% market share by the visafone network.

Also, Nigeria’s indigenous mobile network, Globacom, boasts of a 27% market share which is over 46.38 million active subscribers, while 9mobile boasts of a subscriber base of 16.72million with a 9% market share.

9mobile dropped for the 23rd month consecutively to 9.44 million mobile internet subscribers data on the network. The data shows that subscribers from the network are seeking alternatives to durability and service quality. However, Mtn continued to maintain its lead in the industry with over 50 million mobile internet subscribers. Airtel and Globacom also had a positive add up to 31 millon and 28 million respectively.

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With keen competition in the industry coupled with the strive to deliver effective and top services to customers, the market has continued to accommodate more subscribers in nigeria from the total estimated 190 population.

Mobile users inch 119.5m

Graph of Internet subscribers

Contribution to GDP: The data, as released by the apex telecoms regulator, highlights that the industry contributed about 10.1% to Nigeria’s gross domestic product during the first quarter of 2019. This is a 0.26% point more than the figure (9.85%) recorded in the last quarter and 0.92% points increase when compared to the first quarter of the previous year.

Stanbic 728 x 90

What this means is that the industry is experiencing a boom with MTN cashing out the most. The figure is coming just a few months after MTN floated its shares on the local exchange market, making it the second most valuable company in Nigeria after Dangote Cement Plc.

Analysts have since called on other networks to follow in MTN’s footstep by listing their shares on the Nigerian bourse. Though, Airtel has submitted a file to list on the London Stock exchange.

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Charles Abuede is a graduate of Economics and Statistics from the University of Benin. He has worked as a business correspondent at Voidant Wireless Service (Pryde TV) and Entrepreneurs.ng. He is currently a Research Analyst at Nairametrics. You can reach him on [email protected] or @CharlesAbuede on LinkedIn and @AbuedeCharles on twitter.

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Business

Hyundai and Kia to set up an assembly plants in Ghana by 2022

The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants in Ghana.

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Hyundai to invest $87 billion into producing 44 new electric vehicles, Hyundai partners Kia to invest €100m in electric vehicles 
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Few weeks after Twitter announced its plans to open its first African office in Ghana, Hyundai and Kia have also concluded plans to set up an assembly plants in Ghana by 2022. The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants.

Ghana’s Minister for Trade and Industry, Alan Kyerematen announced this on Twitter.

READ: This is the New Tarrif Structure For Importing Tokunbo & Brand New Cars

Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development program = 3,600 assemblies & 6,600 manufacturing parts jobs in Ghana.

The local assembly of vehicles, 3,600 direct and indirect jobs would be created in Ghana, and the addition of components and parts manufacturing will also add about 6,600 direct and indirect jobs.”

READ: Toyota snubs Nigeria as it moves to establish assembly plants in Ghana, Ivory Coast 

Why this matters

More foreign companies are shunning Nigeria in favour of Ghana. Recently, Nairametrics reported that Amazon is set to situate its African Headquarters in South Africa, a multi-billion dollar investment that is projected to create over 20,000 jobs both directly and indirectly.

Following its move to Ghana, Twitter CEO, Jack Dorsey cited a number of human rights-related reasons for the choice of Ghana over Nigeria. Added to this are rising insecurity, stifling government regulations and the gapping infrastructural deficit bedevilling Nigeria. Consequently, our nation is steadily losing opportunities to attract foreign companies that could be very instrumental in bridging its unemployment gap which is currently over 30%.

SSKOHN

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Business

Passports: Backlog of undelievered passports to be fixed before May 31st – Minister

The government also announced the launch of a new passport application system, which would be aided by fast track services nationwide.

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The Federal Government disclosed that all backlogs of undelivered passport requests would be fixed before May 31st, and announced the launch of a new passport application system, which would be aided by fast track services nationwide.

This was disclosed by Minister of Interior, Rauf Aregbesola, in a press briefing with newsmen on Thursday.

What the Minister said

“On or before May 31st, all backlogs of undelivered requests for passports will be totally met, unless such applications have a problem,” he said.

“But before the deadline, the problematic application would be contacted, so that we know what’s wrong with the applications. Assuming there would be no problem, every successful application for a passport would be given a passport on or before May 31st,” he added.

READ: Canada invites 3,900 new PR candidates, introduces new programme to attract Nigerians

The new passport process

The Minister disclosed that the FG will launch a new passport application process which would come into effect soon.

“When you finish your application process, there would be a waiting period of six weeks to collect your passport, however, if you want an express service, there would be fast track centres nationwide, to meet requests for express passport users,” he said.

What you should know 

  • Recall Nairametrics reported last month that the Federal Government inaugurated the Nigeria Immigration Service Passport Express Centre, which is a partnership with the private sector to enable the government offer passport services to Nigerians and make passports available in a maximum of 72 hours of a successful application.
  • The FG also launched the Electronic Temporary Passport to cater for Nigerians desirous of returning home but whose national passport is not available.

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