Ict/Telecom
Nigeria’s Digital Switch Over, An Epoch
A cross-section of participants at a Digital Marketing Workshop for women organised by Women Technological Empowerment Centre, in Lagos on Wednesday.
The Minister of Informa
tion and Culture, Alhaji Lai Mohammed says Nigeria’s switch over from analogue to digital television is a landmark achievement.
Mohammed said this on in Jos while inaugurating the pilot phase of the Digital Switch Over (DSO) that would start the digitisation process in broadcasting.
“Today, history is being made, both in Nigeria as a country and in the city of Jos. After 12 years, the country began the process.
“What we have dreamt of, imagined, attempted and what even seemed impossible at a stage, is now happening right before our very eyes.
“Nigeria is transiting from analogue to digital broadcasting.
“The journey that started in 2004, when the International Telecommunications Union (ITU) Council adopted Resolution 1185 on transition from analogue to digital terrestrial broadcasting, is finally nearing its destination,”
The minister noted that three events were significant in the history of television in the country.
He recalled that in 1959, the Western Nigeria Broadcasting Corporation WNBC inaugurated the first Television Station in Africa, and in 1976, the first colour Television was switched on in Jos.
Mohammed said 40 years after the colour Television was inaugurated, the country was transiting from analogue to digital in the same Jos.
“This is a monumental event, because with the switch over, we are revolutionising the broadcast landscape and architecture, as well as the local, state and national economy.
“More importantly, we are democratising the right to know, the right to knowledge and the right to be informed.
“This is simply because with what we are doing today, the average Jos person does not need to pay subscription to watch the best news and entertainment from around the world.
“Compared to yesterday when the average Jos person can only watch Television channels at best, he can now watch fifteen (15) Television channels, local and international news as well as local and foreign entertainment,’’ he said.
One other importance of DSO, Mohammed said that through the information service, viewers could also get news about government activities without going on the Internet.
Also while watching a particular channel, they could know the other programmes available on that channel, using the EPG, or Electronic Programme Guide.
“In terms of the economy, all licensed Set Top Box manufacturers have been mandated to establish manufacturing companies in Nigeria to produce the boxes locally, after importing the first set of boxes.
“This will create massive employment and also ensure the transfer of technology for our people.
“Also, due to availability of many channels, there will be an astronomical increase in the need for content, and this will fire the creative ability of our youths,” he said.
The minister said the switch over would also become the much-needed panacea to the menace of piracy dogging the music and movie industries.
He said the musicians and movie producers would be able to release their works directly to the platform, where they could be purchased, thus wrong-footing those who had been pirating their works.
According to him, the transition will trigger a chain of retailers and installers of the Set Top Boxes, with a massive impact on the local economy.
While thanking the Plateau Government for its support, he called on the local and state governments to help by buying the boxes for their people at subsidised rate by the Federal Government.
The Tide source reports that the event was attended by the state Deputy Governor, Prof. Sonni Tyoden, a former deputy governor, Paulen Tallen and major stakeholders in the broadcast industry.
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
