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Spotlight Stories

Sokoto, 2 other northern states record fastest growth in mobile internet subscribers in Nigeria

Sokoto State recorded a massive jump of 54.1% in the number of mobile internet subscribers in Q3 2020

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Sokoto, Yobe, Kano State amongst other northern states recorded the fastest year-on-year growth in the number of mobile internet subscribers by states in Nigeria.

This is according to the Telecommunications Report by States for Q3 2020 released by the National Bureau of Statistics (NBS).

Sokoto State recorded a massive jump of 54.1% in the number of mobile internet subscribers to 2.9 million as at Q3 2020 from 1.9 million recorded in the corresponding period of 2019. Sokoto, 2 other northern states record the fastest growth in mobile internet subscribers in Nigeria.

Yobe State closely followed with a 51.3% growth from 1.3 million to 2.01 million subscribers, while Kano State recorded an increase of 47.6% to 10.3 million internet subscribers.

Nigeria’s mobile internet subscribers

  • According to the data from the NBS, the total number of internet subscribers in Nigeria as at the third quarter of 2020 is 151.5 million.
  • This represents 5.48% increase when compared to 143.6 million recorded in the previous quarter and 23.02% increase when compared to 123.2 million recorded in the corresponding period of 2019.
  • Meanwhile, a look at the states with the highest internet customers shows that Lagos, Kano, Ogun, Oyo, and Abuja are top on the list.

Lagos State

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  • Subscribers – 19 million
  • YoY growth – 12.64%

Kano State

  • Subscribers – 10.3 million
  • YoY growth – 47.56%

Ogun State

  • Subscribers – 8.8 million
  • YoY growth – 17.46%

Oyo State

  • Subscribers – 7.9 million
  • YoY growth – 26.12%

Abuja

  • Subscribers – 6.8 million
  • YoY growth – 19.89%

 

Internet subscribers by geopolitical zones

  • According to checks by Nairametrics Research, South West still retains the number one spot in terms of internet subscribers per geopolitical zone with 44 million out of the total 151.5 million subscribers.
  • However, the North-western part of the country recorded the fastest growth of 37.12% followed by North-East with 28.63% growth (see below)

 

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Internet subscribers by GSM companies

  • MTN continues to lead with 64.4 million subscribers, representing 42% of the entire internet subscribers. Meanwhile, Glo recorded the fastest year-on-year growth of 33.2%.
  • MTN – 64.35 million
  • Airtel – 40.31 million
  • Glo – 39.13 million
  • 9mobile – 7.27 million

Bottom line

Internet subscribers in Nigeria continue to record double-digit growth, as the country turns to internet-friendly services as a means to cope during the lockdown implemented by the federal government in response to the covid-19 outbreak.

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Economy & Politics

Senate President lists benefits of PIB as public hearing on the bill opens

Ahmad Lawan has listed the benefits of the PIB presently before the National Assembly for consideration.

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Senate president warns about dangers of youth unemployment, National Assembly to ensure youth empowerment schemes are realized - Lawan

The President of the Senate, Ahmad Lawan, has said that the Petroleum Industry Bill (PIB) which is presently before the National Assembly for consideration and passage will ensure that Nigerians benefit optimally from crude oil production and sale of fossil fuel reserves.

According to a statement that was issued by the Special Assistant, Press to the Senate President, Tabiowo Ezrel, this disclosure was made by Lawan, while declaring open a 2-day public hearing on the bill by the National Assembly on Monday, January 25, 2021.

The Senate President pointed out that the National Assembly in its consideration of the piece of legislation would ensure that the bill when passed into law, guarantees improved revenue earnings for the country.

READ: Investors gain big on Airbnb, now worth over $100 billion

What the Senate President is saying

Lawan in his statement said, ‘’Let me say this, we (National Assembly) will pass this bill not without ensuring that it is a bill that satisfies certain conditions. Nigeria is blessed with these resources, we want Nigeria to benefit optimally from them. In fact, we are in a hurry because we have lost so many years of benefits that we could have had.’’

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He, however, noted that the non-passage of the PIB had been a major drag on the industry over the years, significantly limiting its ability to attract both local and foreign capital at a time when many other countries are scrambling to exploit their oil and gas resources.

READ: FG to begin online registration, monitoring of petrol stations, depots

Going further, Lawan said, ‘’The mere knowledge that the nation’s oil industry is still being governed by laws enacted more than 50 years ago is ludicrous and extremely disappointing.

‘’As legislators, we will strive to deliver a Bill that will enhance the growth of our oil and gas industry, modernize our fiscal system and enhance competitiveness, while creating harmony for all stakeholders. This is a promise we have made and that we shall achieve.’’

READ: FG assures oil companies of lower taxes in new PIB

‘’Nigeria must have an oil and gas industry that benefits its people. Equally, our oil and gas industry must be competitive. We must create a sustainable investment climate, where business in the sector will flourish,’’ he said.

He also added that the determination by the legislature to pass the Bill is driven by the need to overhaul a system that has refused to operate optimally in line with global standards, resulting in loss of continental competitiveness, transparency, accountability, good governance and economic loss for the petroleum industry and the country.

The Different chapters of the PIB

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The Senate President revealed that the PIB comprises of 4 chapters that outline;

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  • How to create efficient and effective governing institutions with clear and separate roles for the petroleum industry,
  • Establish a framework for the creation of a commercially oriented and profit-driven National Petroleum Company,
  • Promote transparency, good governance and accountability in the administration of the petroleum resources of Nigeria among others.

READ: Buhari directs FIRS, others to ensure strict compliance of tax payment by foreign firms

Other benefits of the PIB

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He also noted that the PIB upon passage and assent into law by the President;

  • Would foster sustainable prosperity within host communities, provide direct social and economic benefits from petroleum operations to host communities,
  • Create a framework to support the development of host communities among others
  • Establish a progressive fiscal framework that encourages investment in the Nigerian Petroleum Industry,
  • Balancing rewards with risk and enhancing revenues to the Federal Government of Nigeria,
  • Provide a forward-looking fiscal framework that is based on core principles of clarity, dynamism and fiscal rules of general applications,
  • Establish a fiscal framework that expands the revenue base of the Federal Government while ensuring a fair return to investors.

READ: FG invalidates SIM integration using BVN generated NIN, applicants must visit NIMC offices

Lawan assured that the National Assembly during the public hearing would deal with all issues relating to the oil and gas industry with thoroughness and effectiveness so as to avert colossal losses to the nation’s economy.

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Spotlight Stories

Airtel, WAPCO, MRS rally up, investors gain N46 billion

The All Share Index gained 0.21% to close at 41,088.96 index points. Year to date return and market capitalization settled at 2.03%, and N21.49 trillion respectively

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

Nigerian Stocks ended the first trading session on a bullish note.

The All Share Index gained 0.21% to close at 41,088.96 index points. Year-to-date return and market capitalization settled at 2.03%, and N21.49 trillion respectively. Investors gain N45.49 billion.

  • A total volume of 333 million units of shares, valued at N2.64billion exchanged hands in 5,640 deals. TRANSCORP (-5.26%) finished the most traded shares by volume at 48.9million, while ZENITHBANK (0.00%) topped by value at N418 million.
  • Market breadth was however inverse of the broad index with 30 losers against 19 gainers. MRS (+9.82%) led the gainer’s chart today, while CILEASING (-10.00%) was the top loser.
  • Performance across sectors was mixed; like Oil & Gas (-0.80%), Consumer Goods (-0.72%) and Insurance (-0.58%) closed in red, while the Industrial and Banking indexes improved by +0.54 and 0.49% respectively.

Top gainers

  1. MRS up 9.82%  to close at N12.3
  2. JBERGER up 3.17% to close at N19.5
  3. WAPCO up 1.92% to close at N26.5
  4. DANGCEM up 0.85% to close at N236
  5. AIRTELAFRI up 0.38% to close at N855

Top losers

  1. CILEASING down 10.00% to close at N5.13
  2. ARDOVA down 9.78% to close at N18.45
  3. INTBREW down 6.53% to close at N6.16
  4. NASCON down 5.81% to close at N16.2
  5. UNILEVER down 2.22% to close at N13.2

Outlook

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Nigerian Bourse recorded an impressive winning streak this week as some NSE30 stocks including, AIRTELAFRI, DANGCEM, WAPCO triggered the upward run on Monday’s trading session.

  • The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
  • Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.

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Spotlight Stories

Nigeria’s Sparkle partners with Network International for virtual and physical payment cards

Nigeria’s Sparkle signs with payment experts Network International for virtual and physical payment cards.

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Nigerian fintech startup Sparkle, a digital ecosystem providing financial, lifestyle, and business support services, has partnered with Network International, to power its recently launched payment card offering.

This is coming months after collaborating with Visa to enable them to issue Visa cards to its users.

Founded by former Diamond Bank chief executive officer (CEO) and tech entrepreneur, Uzoma Dozie with the aim of providing seamless solutions to Nigerian individuals, SMEs, and retailers. Sparkle’s new virtual and plastic debit cards are targeted at SMEs and upwardly mobile, unbanked consumers across Nigeria, bringing them the convenience, flexibility, safety, and security of cashless payments across various channels.

What they are saying

  • According to Uzoma Dozie, “Digital adoption and customer experience are going to be dependent on the people, platform, and partnership. In the area of payment processing and data insights, Network International brings that to our platform, and we are truly excited about the future of the partnership and what it means for the enablement and transformational impact for Nigerians anywhere in the world who are connected to the Sparkle platform.”
  • Also speaking on this new partnership, Andrew Key, Managing Director – Africa, Network International, said, “We are delighted to strengthen our strategic alliance with Sparkle as it seeks to further disrupt the payments offering to consumers and retailers in Nigeria. Building on our two decades of experience within payments and deep insight of the African market, we look forward to deploying our trusted platform and best-in-class technology towards supporting digital and financial inclusion of Nigerian consumers and businesses.”

Sparkles’ collaboration with Network International is based on their shared commitment to further the adoption of digital payments among emerging markets across Africa and the Middle East. Its users can make in-app payments with the new virtual card, and also make e-commerce transactions with the cards attached to their Sparkle profile.

This collaboration will offer Sparkle access to the Network’s years of experience and expertise in creating card solutions for emerging markets. The company can also benefit from Network’s advanced digital infrastructure and robust security protocols, avoiding the need to invest in expensive card management infrastructure.

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