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Business

53,460 3G and 4G Base Transceiver Stations (BTS) deployed in Nigeria – Prof. Danbatta

The 3G and 4G base transceiver stations deployed in Nigeria in the last 5 years increased from 30,000 to 53,460.

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Buhari reappoints Danbatta as NCC Vice Chairman/CEO

A total of 53,460 third-generation (3G) and fourth-generation (4G) base transceiver stations (BTS) have been deployed in Nigeria in the last five years.

This was disclosed by the Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof. Umar Danbatta at a briefing session for the new Permanent Secretary of the Federal Ministry of Communications and Digital Economy, Engr. Festus Yusuf Daudu.

According to Danbatta, the effective regulatory regime put in place by his leadership has created the desired impetus for the increased deployment of infrastructure by various telecoms operators, which in turn, has helped to improve the broadband penetration and other related service delivery in the telecoms industry.

The BTS, fibre optic cables and other related infrastructure are central to the provision of improved service experience for Nigerians by their respective telecoms service providers.

“The licensed Infrastructure Companies (InfraCos) are also expected to add 38,296km to optic fibre cables when they commence full operations.

What they are saying

According to Prof Danbatta:

  • The Commission will continue to put in its best in the discharge of its mandates, especially in facilitating the deployment of broadband, which is central to diversifying the Nigerian economy and national development”
  • “Also, it is our belief that the communications industry, under the leadership of the Ministry of Communications and Digital Economy, will experience more quantum leaps and retain its current leadership role in the telecommunications space”

In his reaction and comment, the new Perm Sec, Engr. Festus Yusuf Daudu said:

  • “I want to thank NCC for its contribution to the Nigerian economy so far. I am not exaggerating about the achievements of NCC, in terms of contribution to GDP and how NCC’s effective regulatory role has been helping the economy in so many ways

What you should know

  • The BTS system is part of a GSM network that is responsible for the reception and transmission of radio signals from mobile phones.
  • A Base Transceiver Station is a general description of equipment consisting of the telecommunication technology and the air interface of the mobile network (GSM, UMTS etc.).
  • The deployment of the 3G and 4G base transceiver stations (BTS) increased from 30,000 to 53,460, in the last 5 years
  • While the Fibre Optic Transmission cables expanded from 47,000km to 54,725km
  • As at November, 2020, active telephony subscribers stood at 208 million with tele-density standing at 108.92%
  • Active Internet subscriptions of 154.9 million were achieved with broadband penetration rate of 45.07%
  • The number of subscriptions to DND service hit over 30 million as the service empowers Nigerians to be able to protect themselves from the menace of unsolicited text messages and calls.

Why this matters

Having more Base Transceiver Stations (BTS) is quite imperative for driving an improved broadband/telecoms service delivery to Nigerian subscribers.

The poor services currently experienced by many telephony subscribers, especially in areas not sufficiently covered by Base stations, will now be a thing of the past as even subscribers in the remotest rural areas can conveniently receive and make calls and as well as enjoy other subscription services, without hitches.

Johnson is a risk management professional and banker with unbridled passion for research and writing. He graduated top of the class with B.sc Statistics from the University of Nigeria and an MBA degree with specialization in Finance from Ambrose Alli University Ekpoma, with fellowships from the Association of Enterprise Risk management Professionals(FERP) and Institute of Credit and Collections management of Nigeria (FICCM). He is currently pursuing his PhD in Risk management in one of the top-rated universities in the UK.

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Business

Osinbajo reveals what Nigerians in diaspora asked for to make more investments in the country

Osinbajo has disclosed that the Nigerians in diaspora seek an enabling business environment in order to make more investments.

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Solar, FG to slash import duties on tractors, buses, others in 2020 Finance Bill, Nigeria will not issue Eurobonds, says Vice President Yemi Osinbajo, FG guarantees mortgage loan to low income buyers at low interest rate, FG inaugurates gold refinery project in a landmark event

Nigeria’s Vice President, Yemi Osinbajo, has revealed that the Nigerians in diaspora asked for improvement in the enabling business environment in order to make more investments into Nigeria in specific engagements with investment opportunities.

This follows the conduct of a study by the Federal Government with stakeholders, which found out that many Nigerians have a keen interested in investing in the country.

This disclosure was made by Osinbajo while speaking at a webinar organized by Fidelity Bank Plc, entitled, ‘The New FX Policy, Implications and Positive Impact on Diaspora Investments’

Osinbajo, who was represented by the Executive Secretary/Chief Executive Officer of Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku, commended the new CBN FX policy, ‘Naira 4 Dollar Scheme,’ an initiative aimed at incentivising senders and recipients of international money transfers, saying it would aid more investment from Nigerians living abroad.

What Nigeria’s Vice President is saying

Osinbajo pointed out that for several years, the remittances from Nigerians in diaspora exceeded Nigeria’s oil revenue, adding that the country is interested in finding out how to translate this potential to investments.

He said, “Nigerians in diaspora represent an indomitable force, they are flag bearers of Nigeria’s image, Nigeria entrepreneurial energy and Nigeria’s incredible can-do attitude. In business, politics, education, sports, entertainment, science, medicine, and arts, Nigerians have demonstrated across the world what Nigerians represent in Nigeria. We realise the role of the diaspora and the potential that they represent.

“For several years, the remittances from Nigerians in diaspora exceeded Nigeria’s oil revenues, which translated sometimes as high as six per cent of GDP. We are interested in understanding exactly how to translate this potential to investments.

“So, the office of the VP working with stakeholders, including NIPC, worked on a study and we found that many Nigerians, particularly first-generation males, have a keen interest in investing in their country.”

Going further, Osinbajo added, “We noticed that 70 per cent of remittances go into family support and only 30 per cent of the inflows go into investments and in that 30 per cent, a bulk of it goes into real-estate.

“But what Nigerians in the diaspora indicated would be useful for them is to undertake more investments into Nigeria in specific engagements that promote investment opportunities led by the private sector. From government, what they asked for was improvement in the enabling business environment.

“The effort of government in recent years has been on improving the business environment and initiatives, such as this, driven by the private sector, to attract investment from the diaspora is one of the key things they asked for,’’ he said.

The Vice President expressed delight with the new CBN policy that makes it easier for Nigerians in diaspora not just to transfer funds to Nigeria but to have greater control over the funds they transfer to Nigeria.

He said that he is confident that when statistics would be released, there would be a material impact on the diaspora remittances from Nigerians to Nigeria.

What you should know

  • It can be recalled that the CBN in an earlier circular dated March 5, 2021, stated its new forex policy initiative that all recipients of diaspora remittances through the apex bank’s licensed IMTOs shall henceforth be paid N5 for every $1 received as remittance inflow as an incentive.
  • This means for instance if an individual sends you $10,000, you will get an additional special credit alert of N50,000.
  • The new policy initiative which is with effect from Monday, March 8 and end on Saturday, May 8, 2021, states that this incentive is to be paid to recipients whether they choose to collect the US dollar as cash across the counter in a bank or transfer same into their domiciliary account. In effect, a typical recipient of diaspora remittances will at the point of collection, receive not only the USD sent from abroad but also the additional N5 per USD received.”

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BUA commences legal action over allegations of involvement in $20 million bribe scandal

BUA has urged stakeholders and the public to disregard malicious, baseless allegations circulating in some news media concerning its OML 110.

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Kabiru Rabiu, BUA Group

The management of BUA Group has commenced legal actions against parties involved in spreading spurious allegations of corruption and involvement in a $20 million bribe scandal.

The leading conglomerate revealed that the corruption allegations which were published by some Nigerian news channels allegedly attributed to a purported statement by Alhaji Ibrahim Mai Deribe and Cavendish Petroleum with respect to BUA’s OML 110 as false, defamatory, malicious and libellous.

According to the statement published by the management of BUA, the Group had been duly contacted by Cavendish Petroleum as well as the alleged writer of the statement, Alhaji Ibrahim Mai Deribe and both parties have told BUA on the record that neither Cavendish, the Mai Deribe Family nor any of its Executives put out such a malicious statement.

The Group noted that the statement was made with the clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Alhaji Abdul Samad Rabiu.

BUA fingers Kainos MD as instigator of false allegations, commences legal action

An inhouse investigation conducted by the Group revealed that the source of the fraudulent news is Mr James Onyejekwe, the MD of Kainos Exploration and Production.

In reaction to this, BUA has therefore instructed its legal team to immediately commence criminal defamation proceedings against the MD of Kainos, the said originator of the malicious letter fraudulently attributed to Alhaji Ibrahim Mai Deribe, with damages.

The legal action will also extend to the online blog, blazenews.com.ng – which first published the unsubstantiated malicious news without a careful fact check in their duty of journalistic care, to confirm and clarify the source of such a weighty allegation.

The Group believes these actions are necessary, in order to protect the name and reputation of the manufacturing conglomerate, noting that there is no reason why Mr. James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.

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