Ict/Telecom
NCC Hints Of Plan To Address Infrastructure Deficit In Telecoms
Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), Professor Umar Danbatta, has asserted that the deployment of telecoms infrastructure across rural communities in the country remains the focus of the Federal Government.
Danbatta made this declaration at the International Conference Centre, Abuja, while delivering a keynote address at the 2021 National Conference, Exhibition, and Annual General Meeting of the Nigerian Society of Engineers, recently.
Danbatta who spoke on a sub-theme, ‘Strategic Collaboration between the Town and Gown for Effective Rural Development’, said that the vision of the Federal Government as enunciated in the Economic Recovery and Growth Plan (ERGP), National Digital Economy Policy and Strategy (2020-2030) and the National Broadband Plan (2020-2025) had been vigorously implemented.
He explained that the NCC’s Strategic Management Plan (SMP) 2020-2024, streamlined in the Commission’s Strategic Vision Plan (2021-2025) to enhance operational and regulatory efficiency, aligned with the Federal Government’s vision for an all-inclusive digital economy.
According to him, to improve Nigeria’s broadband infrastructure, the NCC has divided Nigeria into seven zones, consisting of the existing six constitutional geo-political divisions, and Lagos constituting the seventh division in view of its importance as a strategic commercial and technological hub in the country.
“The NCC has proceeded to licence companies for each of the seven zones, to deploy broadband infrastructure that will ensure speed of up to 25 megabits per second in the rural areas. Each of the 774 local government areas of Nigeria will have an initial access point of at least 10 megabits per second”, he said.
The NCC boss disclosed that the licensed companies, otherwise known as Infrastructure Companies (Infracos), had been directed to move to site to cascade broadband infrastructure to the hinterland.
He affirmed that there was timeframe for the implementation of these projects, including the building of specialised technology centres in the rural areas to enable stakeholders to harness huge benefits of ICT.
According to him, the NCC is waiting to see the Infracos demonstrate creditable level of deployment in the cities and also discharge the burden of proof of the existence of access points in LGAs in the next five months.
Otherwise, he said that the Commission may have to take firm regulatory decisions in the interest of the Nigerian people and start-ups, who have been waiting for the deployment of rural tech solutions to make contributions to the growth of the economy by exploring derivable benefits that accrue from a digitised economy.
Danbatta said NCC would continue to collaborate with relevant stakeholders to enhance innovation, competition and participation in governance by the citizenry, which is one of the hallmarks of digital culture.
The NCC chief executive disclosed that Nigeria already has about 40,000 unique transceiver stations and their uniqueness is underpinned by their characteristics as enablers of 2G, 3G and 4G technologies.
He, however, said that this figure is inadequate for a country like Nigeria with a huge size and population, noting “the United Kingdom with less population has over 60,000 of such stations”.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter