Ict/Telecom
Active Telecom Subscribers UP By 435,343 -NCC
The Nigerian Communica
tions Commission (NCC) says active users of telecommunications services in the country increased to 153,949,450 in November 2016.
The telecommunications industry regulator gave the figure in its Monthly Subscriber/Operator Data, obtained by newsmen last Wednesday in Lagos.
It said that the active telecommunications service customers increased by 435,343 in November over their October number of 153,514,107.
According to the data, 153,547,164 of the 153,949,450 active numbers subscribed to the Global System for Mobile Communications (GSM) network services.
The GSM operators’ active customers increased by 460,454 on the October number of 153,086,710 subscribers.
The report stated that of the GSM operators, MTN had 61,280,293 users in November, an increase of 297,806 on the October figure of 60,982,487 subscribers.
Globacom’s figure increased in November by 150,491, giving a total of 37,268,483 customers, as against 37,117,992 recorded in October.
Airtel had 33,376,556 subscribers in the month under review, which was an increase of 600,640 on the October figure of 32,775,916.
Etisalat, however, recorded a reduction in customers by 588,483, giving a customer base of 21,621,832 compared to 22,210,315 users recorded in October.
The Code Division Multiple Access (CDMA) operators had 217,566 active users in November, showing a decrease of 26,865 from 244,477 customers they had in October.
Between the two surviving CDMA service providers, Visafone’s customers reduced to 213,106 in November, as it lost 26,911 users from the October record of 240,017, while Multi-Links maintained 4,460 customers in November.
The monthly subscriber/operator data showed that the Fixed Wireless network’s (landline) consumers decreased to 26,865 in November, as they lost 77 customers from their record of 26,942 in October.
Also, between the two Fixed Wireless operators, Visafone had 26,437 subscribers in November, losing 77 users from the October record of 26,514; while Multi-Links maintained its October record of 428 customers.
The record also indicated that the Fixed Wired operators (landline) subscriber base reduced by 99, giving a total of 124,713 users in November, as against 124,812 recorded in October.
In the Fixed Wired area, MTN Fixed moved from 5,842 in October to 5,697 in November, thereby reducing by 145 users; Glo Fixed had 12,586 users in November, adding 72 customers to the October record of 12,514.
IpNX network moved from 2,539 subscriber base in October to 2,480 in November, reducing its customers by 59 in November.
It said that 21st Century network had 103,950 customers in November, recording an increase of 33 users on its October record of 103,917.
The report also showed that Smile Communications, the only operator on the Voice-Over Internet Protocol (VOIP) network had 33,142 active users in November, as it added 1,976 customers to its October subscriber base of 31,166.
The regulatory body said that Section 89 Subsection 3(c) of the Nigerian Communications Act 2003 mandated it to monitor and report the state of telecommunications industry.
“The commission is mandated to provide statistical analysis and identify industry trends with regard to services, tariffs, operators, technology, subscribers, issues of competition and dominance.
“‘This is with a view to identifying areas where regulatory intervention will be needed.
“The commission regularly conducts studies, surveys and produces reports on the telecommunications 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
