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Business

Cost of data subscription reduces by over 50% in 2020

According to a report by NCC, the cost of data in November 2020 was less than 50% of the cost of data in January 2020.

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Nigeria’s broadband penetration rate increased by 10% in 2020, hits 43.3%, 13 new space stations get landing permit from NCC, NITDA, Isa Patanmi, FG denies issuing 5G license to telcos, despite MTN, Huawei's 5G-demo launch last year

The Federal Ministry of Communications and Digital Economy (FMoCDE) disclosed that the average cost of IGB of data has reduced from the January 2020 cost of N1,000 to N487.18 in November 2020 – indicating 51.3% reduction.

This disclosure was made in a press statement issued by Dr Femi Adeluyi, the Technical Assistant on Information Technology to the Minister of Communications and Digital Economy, based on the Report of the Nigerian Communications Commission (NCC), which was submitted to the Minister of Communications

  • The NCC report revealed that the cost of data in November 2020 was less than 50% of the cost of data in January 2020.

According to Dr. Faluyi, this development was achievable through the directives of the Minister of Communications and Digital Economy, Dr Isa Pantami, as well as the measures which have been put in place to significantly reduce the average cost of data.

Current reality

In line with the projections of the NNBP, the current reality in terms of data cost has changed remarkably, as the measures deployed in line with the template of the NNBP have caused the current cost of data to reduce significantly beyond the December 2020 projection of N925.

  • In this vein, according to the Report of the NCC, the average cost of data as at November 2020 was N487.18, which is 47.33% lower than the projected value.

What you should know

On the 19th of March, 2020, the Minister of Communications and Digital Economy inaugurated a Committee that developed the Nigerian National Broadband Plan (2020-2025) on the 16th of December, 2019.

The broadband plan was which was launched by President Muhammadu Buhari was designed to:

  • Deliver data download speeds across Nigeria, at a minimum of 25Mbps in urban areas, and 10Mbps in rural areas.
  • Have an effective coverage available to at least 90% of the population by 2025, at a price not more than N390 per 1GB of data (2% of median income or 1% of minimum wage), by 2025.
  • In this regard, working with the January 2020 baseline of N 1,000 per GB, the maximum projected steady decrease for the end of each year was as follows: 2020 (N925), 2021 (N850), 2022 (N775), 2023 (N700), 2024 (N545) and 2025 (N390).

What to expect

The Federal Ministry of Communications and Digital Economy assured Nigerians that the Ministry through the NCC and under the auspices of the Federal Government will continue to ensure that consumers enjoy a price regime that supports fairness and is friendly to consumers.

The Ministry reiterated that policies are in place to ensure that operators adopt competitive pricing that eschews unjustifiable margins.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Business

FRSC to continue enforcement of speed limits devices by motorists

The FRSC has insisted on the enforcement of the installation and usage of speed limit devices in vehicles by drivers.

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The Federal Road Safety Corps (FRSC) has insisted on the enforcement of the installation and usage of speed limit devices in vehicles by drivers to reduce speed on the highway.

This follows the non-adherence to this directive by most motorists who had stopped installing the devices in their vehicles.

According to a report from the News Agency of Nigeria (NAN), this disclosure was made by the Unit Commander of FRSC in Ore, Mr Olusegun Aladenika, in Ore, Ondo State, on Wednesday.

Aladenika said that most motorists on the Ore-Benin Expressway had stopped installing the devices in their vehicles.

While reminding motorists that the FRSC is still enforcing the installation of speed limits on vehicles and usage by drivers, the FRSC top official said that the devices were to reduce speed on the highway in order to check road crashes that often resulted to loss of lives and property.

What the FRSC top official is saying

Aladenika said, “Installing the speed limit devices by motorists in their vehicles to reduce speed on the highway is still very much in force. Motorists must not jettison the installation of the devices in their vehicles because they are good for both drivers and their passengers.

“It will reduce the speed of the vehicle in transit on the highway thereby reducing road crashes and loss of lives and properties,” he said.

Aladenika warned that any defaulting motorists caught driving above the speed limit would be arrested and punished accordingly.

He also urged them to patronise the appropriately registered organisations saddled with the responsibilities of issuing the devices to motorists adding that FRSC was neither a registered body nor given the approval to install the devices but only enforces its default.

What you should know

  • It can be recalled that the FRSC, in 2016, announced the introduction of the use of speed limit devices in vehicles to reduce the incidents of accidents and loss of lives.
  • However, the enforcement and compliance with the installation began on February 1, 2017, with articulated trucks.
  • Following an appreciable level of compliance by commercial vehicles, the FRSC in 2019, said that it would soon begin the enforcement of speed limit devices installation on private vehicles.

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Business

Lagos to enforce law against illegal conversion of properties in Lekki, Magodo schemes

The Lagos State Government has commenced the restoring of Government Residential Schemes to their original plans.

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Lagos issues ultimatum to Tank Farm Operators over planning permit, Lagos seals 27 residential and commercial buildings in Lekki, LASG Seals 19 more Buildings in Banana Island over planning permit

The Lagos State Government has moved against individuals and groups that indiscriminately convert their buildings from residential to commercial as they commence the restoring of Government Residential Schemes to their original plans.

The week-long monitoring and enforcement exercise is to be carried out in the Lekki Peninsula Scheme I and Magodo Residential Schemes I and II.

This disclosure was made by the Lagos State Commissioner for Physical Planning and Urban Development, Dr Idris Salako, on Tuesday, March 2, 2021, in Alausa.

Salako stated that Government Schemes ought to remain residential with provision for services as planned but the schemes had been bastardised by indiscriminate conversion of buildings from residential to commercial by some of the residents.

He added that if the pervasive lawlessness in these Estates were allowed to go on, the future would spell doom for the carefully designed upper-income residential schemes, noting that well-meaning residents had inundated the State Government with complaints and sought redress of the untoward situation.

Salako recalled that the Ministry of Physical Planning and Urban Development had extensively engaged and dialogued with residents of the Estates with a view to righting the wrongs.

He said, “It is noteworthy that engagements with Magodo Phases I and II Residents Association produced the Revised Magodo Scheme I and II, which has since become effective.”

The Commissioner warned that indiscriminate conversion of Government Schemes from Residential to Commercial would not be tolerated in Lagos State and urged those liable for any unlawful conversion to brace up for the Ministry’s enforcement activities.

He said, “Our Monitoring and Enforcement team will be visiting all other Government Schemes for similar action in due course. I, hereby, urge that every part of the State should take a cue from the planned enforcement by desisting from the undue conversion of property without the approval of the appropriate authorities.

What you should know

  • The Lagos State Government had in the past clamped down on property owners who illegally convert their residential buildings to commercial purposes especially in locations like Ikeja, Victoria Island and so on.
  • While warning building owners against the unauthorized conversion of properties for commercial purposes, the state government pointed out that under the state’s physical planning law, a residential property owner must obtain a due permit before it can convert such building for commercial purposes.
  • This practice has seen hitherto purely residential areas turn into commercial with the presence of businesses.

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