Ict/Telecom
Expert Predicts Mobile Penetration To Reach 82% By 2015
An Information Technology expert, Mr
Matthew Dawes, on Wednesday predicted that mobile telephone penetration in
Nigeria would reach 82 per cent by 2015.
Dawes, who is the Managing Director of All
Amber Communications, made the prediction in Lagos at the opening of a two-day
conference tagged “Mobile Web West Africa 2012”.
According to him, the market penetration of
mobile is growing rapidly as about 90 million out of 158 million Nigerians now
use mobile telephones.
“Recently, Nigeria overtook South Africa to
become the continent’s largest mobile market with over 90 million subscribers.
“Across the continent, the mobile web and
applications opportunity continued to have profound effect on all echelons of
society,’’ Dawes said.
He said that the idea of Mobile Web West
Africa conference was to develop a thriving industry and support the growth of
the ecosystem.
Our correspondent reports that the
conference has the theme “Taking the Monetisation & Content Creation
Dialogue to the Next Level”.
It is being organised by the All Amber, an
IT firm in the U.K.
Dawes said that mobile internet browsing
was now larger than desktop browsing, adding that 54 per cent of internet
contents were being accessed through mobile gadgets.
According to him, the importance of mobile
web applications and content in West Africa is undisputed.
“There is need to outline the potential
that exists in the development of the mobile ecosystem.
Mrs Isis Nyong’O, the Vice President,
Africa InMobi, advised the Federal Government to promote local content policy
in the ICT sector.
She said that promoting local content would
make the country actualise its Vision 20: 2020.
“Promoting our local content would enable
the country to be among the list of 20 most developed countries of the world.
“Right now, we are not on that list and the
countries on that list will not stand idle waiting for Nigeria.
“It means national commitment, dedication,
hard work and real determination,’’ she said.
The IT expert said that the policy would
promote direct investment in the ICT manufacturing and assembling, thereby
creating jobs for the teeming young Nigerians.
Nyong’O said that the country needed ICT
content policy “just as it has it in the downstream sector of petroleum
industry”.
“Why are we still importing virtually
everything we use, do you know huge amount of money we are spending on
importation of software applications and hardware used by government agencies.
“Our youths do not have the right skills,
competencies and exposure to move forward and ICT can make a creative change in
their life style,’’ she said.
Nyong’O urged the Federal Government to
encourage direct investment in ICT manufacturing and content development.
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
