Nigeria’s internet download speed has gone from bad to worse as a report from the UK-based price comparison website, Cable, revealed that the country’s internet download speed is one of the slowest in the world. According to the report, Nigeria’s internet download speed is ranked 176th of 207 countries measured globally.
The report further shows that it takes an average of over 7 hours (7:18) to download an HD movie of 5GB in Nigeria. This means that Nigeria’s internet download speed has deteriorated in the past two years from 95th in 2017 to 176th in 2019.
Top ten countries: Taiwan has the fastest internet download speed in the world. In Taiwan, an HD movie of 5GB takes 8:02 minutes to download.
According to the report, the economy of Taiwan relies heavily on digital infrastructure, while the country itself occupies a relatively small space compared to many others. Taiwan was ranked 3rd in 2017 and moved first in 2019.
It was however revealed that smaller countries have the advantage of the relative ease of delivering the high-speed connection. Other countries in the top ten fastest internet download speed for an HD movie of 5GB include:
- 1st Taiwan – 8.02 minutes
- 2nd Singapore – 9.38 minutes
- 3rd Jersey – 10.07 minutes
- 4th Sweden – 12.22 minutes
- 5th Denmark – 13.53 minutes
- 6th Japan – 15.58 minutes
- 7th Luxembourg – 16.23 minutes
- 8th Netherlands – 16.59 minutes
- 9th Switzerland – 17.34 minutes
- 10th Norway – 17.45 minutes
Top 10 slowest internet download speed: Yemen records the slowest internet mobile download in the world. It takes an average of 30 hours for internet users in Yemen to download an HD movie of 5GB. Other countries in the top ten slowest internet download speed for an HD movie of 5GB include:
- 198th Djibouti – 12.53 hours
- 199th São Tomé and Príncipe – 13.08 hours
- 200th Somalia – 13.17 hours
- 201st Ethiopia – 14.10 hours
- 202nd Niger – 16.05 hours
- 203rd Turkmenistan – 16:10 hours
- 204th Mauritania – 19:22 hours
- 205th Equatorial Guinea – 22:22 hours
- 206th DR of Timor-Leste – 25:24 hours
- 207th Yemen – 30:01 hours
Further Breakdown: According to the report, last year, the five fastest countries that had download speeds around 88 times faster than the five slowest and that gap is further widening. The latest statistics suggest that the top five are 125 times faster than the five slowest. Taiwan tops the table at 85.02Mbps, compared to Yemen, which is 224 times slower at just 0.38Mbps.
- As already presented, downloading an HD movie of 5GB in size would take eight minutes and two seconds at the average speed experienced in table-topper Taiwan, while it would take over 30 hours in last-placed Yemen.
- 37 of the top 50 fastest-performing countries are located in Europe, with ten in Asia & Pacific, two in North America, and just one in Africa.
- By contrast, 25 of the 50 slowest-performing countries are located in Africa, 12 in the Arab States with ten in Asia & Pacific, and three in South/Latin America.
Some downsides: Slow internet speed can affect both individuals and businesses and result in I.T infrastructural decay in the country.
- NCC report shows about 119.5 users are subscribed to mobile internet subscribers in Nigeria.
- According to a report by Financial Times, poor internet connections are costing the UK economy up to £11bn a year, with 42 percent of small to medium-sized businesses reporting problems with connectivity.
- Slow internet access puts individuals and businesses at great disadvantage positions.
- Despite the tremendous potential and impact of the Internet, Nigerians and their businesses are still made bear the cost and curse at the moment.
Bottom line: An earlier report shows that Nigerian telecom companies supposedly offer some of the cheapest mobile data subscription rates in Africa. Also, it has been revealed that there is a growing broadband penetration in Nigeria. Despite having five mobile internet data providers (MTN, Glo, 9mobile, Airtel and Visafone), internet downloads speed in Nigeria still ranks among the slowest in the world.
The rising population and internet users in the country can not be ruled out as factors contributing to this, as the report shows countries with lower populations enjoy faster internet.
However, this calls for telecoms service providers in Nigeria to deliver improved services to serve the teeming population, while its regulator (the NCC) needs to be more proactive in ensuring consumers get value for money.
Breaking: FG extends second phase of eased lockdown by another 4 weeks
This is the third time the second phase of the eased lockdown is being extended.
President Muhammadu Buhari has approved the extension of the second phase of eased lockdown by another 4 weeks.
According to a monitored media report, this is the third time the second phase of the eased lockdown which is currently observed across the country is being extended
The disclosure was made by Boss Mustapha, the Secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19, during the Task Force briefing in Abuja on Thursday.
The Federal Government had on July 27 extended the current lockdown by an additional one week due to the Sallah celebration on July 29.
Mustapha disclosed that the extension followed the briefing and recommendation to President Muhammadu Buhari on Wednesday on the progress made so far by Presidential Task Force in containing the spread of Covid-19 and keeping citizens safe from contracting the virus.
The PTF Chairman noted that they made a couple of recommendations to the president and the extension of the current phase of ease of lockdown was one of the ones approved.
He revealed that in the recommendation that was made to the president about retaining the current phase of the lockdown, the PTF made some minor changes to address the economic, socio-political concerns of Nigerians.
Just In: Access Bank acquires Zambian Cavmont Bank Ltd
The statement from Access Bank says that the deal is a highly complementary transaction.
Access Bank Zambia, a subsidiary of Nigeria’s Access Bank Plc, has reached a ‘definitive agreement’ with Cavmont Capital Holdings Zambia Plc (CCHZ) to acquire Cavmont Bank Ltd.
The tier-1 bank announced this latest development regarding the merger talk which has been ongoing for a while, in a statement that was signed by its Company Secretary (Sunday Ekwochi) and issued to the Nigerian Stock Exchange earlier today.
According to the statement by Access Bank, the deal is a highly complementary transaction that is expected to combine Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations.
The proposed transaction which, in the meantime is still subject to relevant shareholder and regulatory approvals, is also expected to better position Access Bank Zambia as one of the top 10 banks in the Southern African country.
Customers from the enlarged bank will benefit from greater security offered by what will be one of the most capitalized banks in Zambia with a more diversified product and service offering and a broader geographical footprint and infrastructure.
Access Bank on its notification stated, ‘’Subsequent to our announcement on July 8, 2020, the Board of Access Bank Plc announces today that its subsidiary, Access Bank (Zambia) Limited, has entered into a definitive agreement with Cavmont Capital Holdings Zambia Plc (CCHZ) regarding proposed acquisition of Cavmont Bank Limited, a subsidiary of CCHZ and subsequent merger of Cavmont Bank’s operations into Access Bank Zambia. The proposed transaction, which remains subject to relevant shareholder and regulatory approvals, will position the enlarged Access Bank Zambia as one of the top 10 banks in Zambia and create the momentum to advance its strategic objectives.’’
‘’Under the terms of the agreement, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank while Capricom Group Limited, the ultimate majority shareholder of CCHZ will invest at least ZMW300 million ($16.5 million) of preference shares into Access Bank Zambia. Capricorn will hold preference shares in the enlarged Access Bank Zambia for a period of five years, after which the preference shares will be acquired by Access Bank Plc.’’
The statement also notes that the enlarged bank will be well placed to participate in the long-term economic growth of Zambia and will be predicated on the country’s vast reserves of natural resources and fast growing young population.
The transaction is expected to be completed during the fourth quarter of 2020.
Nnaemeka Ewelukwa assumes office as new MD/CEO of NBET
Dr, Eweluka replaced the sacked Dr. Amobi as NBET Chief before full assumption in August 2020.
Dr Nnaemeka Ewelukwa has assumed office as the new Managing Director/Chief Executive Officer of the Nigerian Bulk Electricity Trading (NBET) Plc. This was announced earlier today by the Federal Government of Nigeria.
— Government of Nigeria (@NigeriaGov) August 6, 2020
The Backstory: In December 2019, the former CEO of NBET, Dr Marilyn Amobi, was suspended by Nigeria’s Minister of Power. This followed a series of complaints made against Dr Amobi who was appointed to the position in 2016. Following her sack, the Minister of Power also noted that he was seeking to bring sanity back to the system. A committee was also set up to investigate the many complaints against the former NBET CEO.
“In view of this, the minister has also directed the Constitution of a 5-man investigative committee to look into the myriads of complaints against the MD/CEO (of NBET) with the view of restoring sanity in the management of the company. Consequently, she is to handover to the most senior director in the organisation,” a statement issued by Aaron Artimas, the spokesman of the Minister of Power had read.
Interestingly, President Muhammadu Buhari reinstated Dr Amobi in January this year, but then finally sacked her later in June. Now, Dr, Eweluka, who was earlier announced as Amobi’s replacement, has now taken over.
Before now, Eweluka was appointed the General Counsel and Company Secretary of NBET in march 2012. He has also served as a Technical Adviser with the Presidential Task Force on Power (PTFP) where he was a member of the Regulatory and Transactions Monitoring Unit.
He graduated with an LLB from the University of Nigeria Nsukka, an LLM in International Business Law from the London School of Economics and a PhD from Queen Mary, University of London.