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UPDATED TELECOM INDICATORS: NIGERIA SEES STEADY INCREASE IN ACTIVE VOICE AND INTERNET SUBSCRIPTIONS, DROP IN TELEDENSITY

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Nigeria has witnessed a steady increase in active voice and internet subscriptions, including a drop in teledensity as contained in the latest telecommunications statistical indicators released by the Nigerian Communications Commission (NCC), which have been adjusted to reflect the latest population growth figures and align with international best practices.

The adjustment which is reflected in the telecom industry statistical reports of September, October, and November 2023 published on the Commission’s website, was predicated upon the Nigerian Population Commission (NPC)’s projection of Nigeria’s population at 216,783,381, as of 2022, replacing the previously used 2017 projection of 190 million people.

With the consequential adjustment, which is in line with the International Telecommunication Union (ITU)’s calculation of teledensity, the nation’s teledensity dropped from 115.63% to 102.30% in September, while Broadband penetration witnessed a similar drop from 45.47% to 40.85% in the same month. However, the active voice subscription statistics witnessed a marginal growth from 220,361,186 to 221,769,883 as of September 2023. In addition, Internet subscriptions also enjoyed a marginal growth, from 159,034,717 in August 2023 to 160,171,757 in September 2023.

In October 2023 the industry also experienced a 0.19% growth in Active Voice subscriptions while teledensity stood at 102.49% with Internet subscriptions increasing by 0.60% compared to September 2023.

In November of the same year, the industry also experienced a 0.46% growth in Active Voice subscriptions. Teledensity stood at 102.97% with a 0.57% increase in Internet subscriptions when compared to October 2023.

Teledensity is an index prescribed by the International Telecommunications Union, ITU, for the measurement of telephone penetration in a population by a factor of one line per 100 individuals in the population.

The adjustment by the Commission is consistent with Section 89 Subsection 3(d) of the Nigerian Communications Act 2003 (NCA 2003), in which the Commission is mandated to monitor and report on the state of the Nigerian telecommunications industry, provide statistical analysis and identify industry trends concerning services, tariffs, operators, technology, subscribers, and issues of competition.

Executive Vice Chairman of the NCC, Dr. Aminu Maida, affirmed the nation’s telecom statistical adjustment process as an appropriate step to maintain the integrity of data about the Nigerian telecom industry as collected, collated, and published by the Commission. He noted that this will also ensure the accurate measurement of the Commission’s progress towards attaining increased broadband penetration rates, improved quality of service, and increased population coverage, among other targets set out in the Strategic Plan for the Federal Ministry of Communications, Innovation, and Digital Economy.

He also said such data provides information for both the International Telecommunications Union to which Nigeria belongs, and other development agencies as well as the operators, investors, multilateral agencies, and the public.

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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