Category: Science & Tech

Ex-Gabon president seeks Nigerian govt’s support for telecoms sector

By Stellamaris Ashinze

Lagos, June 6, 2024 (NAN) A former President of Gabon, Prof. Ali Bongo, on Thursday emphasised the need for government’s support and deregulation to ensure the survival of the Nigerian telecoms sector.

Bongo made the observation at the Lagos Business School Breakfast Session which had the theme, “Telecom Sector: The Fulcrum for Economic Dynamism in Nigeria.”

He highlighted the sector’s growth potential, citing its 8 per cent outperformance of Gross Domestic  Product (GDP) growth rate between 2019 and 2023 in Nigeria.

While examining the telecom sector’s critical role in Nigeria’s economic growth and development, the former president urged the government to provide support and create an enabling environment for the sector’s growth.

He warned that as the sector continued to face numerous challenges, its decline could have far-reaching consequences on Nigeria’s economic dynamism

Also, the Chief Executive Officer (CEO), Financial Derivatives, Bismarck Rewane,  in his keynote address, said that the sector’s decline could have far-reaching consequences for the country’s economic growth and development.

Rewane highlighted the telecom sector’s critical role in driving economic growth, innovation, and productivity across various industries.

The CEO, in his presentation titled, “Nigerian Economy on the Brink, Adapt or Collapse?” highlighted the sector’s challenges which included rising inflation, high operating costs and limited access to foreign exchange.

He also listed regulatory burdens, multiple taxation, and state and local government extortion as challenges in the sector.

Rewane said that these challenges were threatening the sector’s growth and development, citing MTN’s reported loss in the 2023 financial year.

According to him, the telecom operators’ push for cost-reflective tariffs is deemed necessary due to adverse economic hardships.

‘’The current situation is having a detrimental impact on the sector’s growth and development, such that the revenue potential from telecoms may start falling, leading to a ripple effect on other sectors.

“The Big Push Theory posits that growth in one sector can stimulate growth in others through backward and forward linkages.

“The telecoms sector has both forward and backward linkages to various sectors.

“These linkages to other sectors are vital for economic growth, innovation, and productivity across various industries making it a key enabler and driver of development in modern economies.

“If the telecom industry collapses, all other sectors will follow,” he said. (NAN)(www.nannews.ng)

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Edited by Christiana Fadare

Banking
By Funmilola Gboteku
Lagos, June 6, 2024 (NAN) Moniepoint MFB, an African financial institution, says it has relaunched its personal banking referral programme to enrich its customers.
Mr Babatunde Olofin, the Managing Director of Moniepoint MFB, said this in a statement on Thursday in Lagos.
Olofin said the referral programme was designed to reward users every time their friends or family performed  a transaction on Moniepoint after signing up with referral link.
He said that through this, millions of people would earn well over N100,000 from referrals alone.
According to him, Moniepoint’s technology has powered over three million businesses across Nigeria.
Olofin said that with its reliable infrastructure in the hands of personal users, it now enabled seamless payments for many across the country.
The managing director said the referral programme would provide extra income for many of its users.
“The customer-centric referral programme supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.
“We know how important seamless financial transactions are and we have seen first-hand the power of peer to peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue.
“With our strong customer obsession and the strings of commendations, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand,” Olofin said.
He noted that each current and new personal account holder had been provided with a unique referral code which was identical to their account username and was visible in the referral section on the personal banking app.
Olofin said the link could be shared with anyone, who, upon signing up and transacting with the Moniepoint Personal Banking app, would contribute to rewards for the referrer.
He added that for every outward interbank transaction conducted by referred customers in the next 12 months, participants would receive a commission.
He explained that the transparent and straightforward incentive structure ensured that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app. (NAN)(www.nannews.ng)
FOG/CHOM/JNC
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Edited by Chioma Ugboma/Chinyere Joel-Nwokeoma

MTN Foundation announces 2024 annual scholarship for undergraduates

Scholarship

By Stellamaris Ashinze

Lagos, June 5, 2024 (NAN) The MTN Foundation on Wednesday announced the opening of its 2024 Scholarship Programme dedicated to aiding Nigerian students in their academic pursuits.

The Executive Director, MTN Foundation, Ms Odunayo Sanya, said in a statement that the scholarship offered support through three specialised scholarships; the first two categories being students in Science, Technology and Mathematics (STEM) and blind students.

Sanya said that the third category of the scholarship was for the top 10 highest-scoring candidates in the Unified Tertiary Matriculation Examination (UTME) across various disciplines.

She said that these allowances would provide sustained financial assistance and capacity building opportunities for scholars until graduation as long as recipients maintained a minimum CGPA of 3.5.

’’Education is pivotal for national progress, and the MTN Foundation is unwavering in its commitment to empowering every Nigerian student to achieve academic excellence.

‘’By expanding scholarship opportunities, particularly for blind students, the foundation  is making a strategic investment not just in individuals, but in cultivating a more inclusive and diverse generation of leaders and innovators who will shape a better future for Nigeria,’’ she said.

The executive director said that this year, the MTN Foundation had taken a step forward in its commitment to inclusivity by expanding the number of scholarships available to blind students from 60 to 100.

Sanya said that this demonstrated its dedication to broadening opportunities and reaffirmed its pledge to support a diverse group of students and ensuring that more individuals had access to the resources they needed to succeed academically.

The executive director said that the MTN Scholarship Programme was launched in 2010, and had empowered 4,949 Nigerian students in the past twelve years.

She said that this financial support had been instrumental in helping the students pursue their academic goals and contribute to the nation’s success.

The News Agency of Nigeria (NAN) reports that candidates who met the specified criteria are encouraged to visit mtn.ng/scholarships to apply before the deadline on June 12, 2024. (NAN)(www.nannews.ng)
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Edited by Christiana Fadare

Food

By Stellamaris Ashinze

Lagos, June 4, 2024 (NAN) A Food Tech  Company, FoodStuff  Stores on Tuesday  said that leveraging  on technology  would enhance  local farmers, restaurants,  hotels and consumers’ satisfaction.

The Chief Operating Officer (COO) FoodStuff  Stores, Diana Tenebe, said  that leveraging on the right food technology would ensure efficiency and reduced  wastage.

Tanebe said in a statement that  Foodstuff Store’s partnership with local farmers could boost sales and  would be a positive step for restaurants and hotels in Lagos State.

She said their innovative approach hads the potentials to create a more sustainable and enjoyable food system.

‘’Food tech companies like Foodstuff Store will provide the right technology platform to streamline the process, making it easier for restaurants and hotels to order and receive the ingredients they need.

‘’By embracing technology and forging strong partnerships with food tech companies,  restaurants and hotels in Lagos can consistently deliver the exceptional dining experiences the city promises.

’By leveraging food tech companies, farmers can gain access to a wider market and fairer prices, while restaurants and hotels receive fresh, high-quality ingredients consistently.

‘’Ultimately, this translates to better quality meals and satisfied customers,’’ she said.

According to her,  this will solidify Lagos’s reputation as a must-visit destination for food enthusiasts around the world.

She said that Lagos is a vibrant city with a diverse restaurant scene,  reflecting its dynamic energy with over 3,000 restaurants showcasing a delicious fusion of Nigerian cuisine and international flavours.

She, however, said that despite promises of exceptional dining experiences, some Lagos restaurants and hotels have faced criticism for charging premium prices for meals that fall short in quality.

Tanebe said that potential solution lay  in partnering with food tech companies to ensure consistent supply of high-quality produce,  allowing restaurants and hotels to elevate the overall dining experience in Lagos.

She said that food tech companies created a more efficient and transparent food system by connecting restaurants directly with local farmers.

According to her,  this guarantees access to fresh produce, supports sustainable practices, and empowers restaurants to create exceptional culinary experiences,  showcasing the best of Nigerian cuisine alongside international flavours.

The News Agency of Nigeria (NAN) reports that Food Tech, is a merger of the words food and technology and   involves companies and projects that use technologies.

Technology such as the Internet of Things (IoT), big data and Artificial Intelligence (IA), among other things, to turn the Agrifood industry into a more modern, sustainable and efficient sector in all its stages. (NAN)(www.nannews.ng)

SKA/CHOM/VIV

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Edited by Chioma Ugboma/Vivian Ihechu

Strike

By Stellamaris Ashinze

Lagos, June 3, 2024 (NAN) Traders at the Computer Village in Ikeja, Lagos, on Monday went about their businesses as usual in spite of the industrial action declared by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

A visit to the computer village by the News Agency of Nigeria (NAN) showed that the market activities were going on as usual.

NAN reports that the NLC and TUC had declared a comprehensive and indefinite strike to protest hike in electricity tariff and minimum wage among others

The Chairman, Computer Village Market Board, Chief Adebowale Soyebo, in a brief interview with NAN  said activities were as usual in the market as people were carrying out their businesses.

“As it it stands today, the Computer Village is very active but we are not sure of what may happen  by tomorrow,” Soyebo said.

Also, the president of Phone and Allied Products Dealers Association of Nigerian (PAPDAN),  Mr Ifeanyi Akubue, said the strike was long over due.

“The NLC has dragged for too long for it to happen hence the non compliance.

“With the present  economic hardship there is no way  a civil servant will survive the situation. So, the  strike is long overdue.

“We have long been ready for them. Even as businessmen it has not been easy, then how much more a civil servant.

‘’We feel the pains of the civil  servants and there should be a way to make available  basic amenities  such as transportation and education, as it is being done in other climes to cushion the challenges,” Akubue said.

The Chief Executive  Officer, Softwareshop, Mr Austin Agbakor, said that activities on Monday at Computer Village were usually slow.

According to him, there is nothing exceptionally different  from other days in spite the strike by NLC.

”However, if by midweek when activities are meant to  pick up and there are no sales, that means the  Computer Village has been affected by the strike.

“Generally, businesses  have been as usual due to the economic  hardships. I urge the government  and NLC to arrive at a long-lasting solution that will benefit the citizens.”

A phone accessory  trader, Mr John Chukwuma, said “the strike is not of benefit to me because complying to the strike will mean no sales which will affect my  family income.

”For a daily income earner complying will be a challenge, such group of people should be put into consideration before an industrial action is declared.”

He, however,  pleaded that NLC should find a common ground to settle the dispute rather than the strike.

Speaking to NAN, a dealer in Laptops, Mr Korede Jinadu, said that joining the strike was not ideal as he would not benefit from the minimum wage.

‘’So, the best bet is to come out and make sales so as to be able to feed my family.” (NAN)

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Edited by Folasade Adeniran

Less than 10,000 of 500,000 verified DPOs in Nigeria are skilled – NDPC

Partnership

By Stellamaris Ashinze

Lagos, May 31, 2024 (NAN) The Nigeria  Data Protection Commission (NDPC) says there are over 500,000 verified Data Protection Officers (DPOs) in the country, but less than 10,000 of them have the skills for data protection.

Dr Vincent Olatunji, the National  Commisioner, NDPC, made this known to the News Agency of Nigeria (NAN) on Friday during a working visit to the Data and Knowledge Information Privacy Protection Initiative (DKIPPI) in Lagos.

He said further that of the 10,000 skilled data protection professionals in the country, less than 5,000 are certified.

According to Olatunji, it has become important to the Commission to build a pool of skilled and certified data protection professionals.

“We want to create jobs for people and the jobs are there, but if, we do not have the skills and how do we secure the jobs?

He said that to close this certification gap, it was partnering with the Data and Knowledge Information Privacy Protection Initiative (DKIPPI) on training of Data Protection Officers (DPOs).

The training, he said, would be done by the DKIPPI to prepare the data protection officers for their certification examination.

He said that the DKIPPI would train those to sit for the exam, while the examination would be conducted by the Institute of Information Management  (IIM) and the certification endorsed by the NDPC.

“The Institute of Information Management (IIM) came up as a NDPC Public/Private Partnership Project to add value to what the commission is doing.

“In other climes and looking at the issues around certification, most of those certified today have international  certification which they obtained by paying in dollars for the training and to write the examination.

“Do we want to continue to have international certification and how many people can afford that?

“This is why we came up with the idea of licensing a national certification body of international standard that can certify Nigeria Data Protection professionals,’’ he said.

According to him, the certification body is one of the best in the world and after various stages, shortlisting was done and the number narrowed down to the Institute of Information Management because of its pedigree, experience and presence in seven countries.

While appreciating the DKIPPI, the national commissioner said that Mr Tokunbo Smith, President, DKIPPI, had been contributing earnestly to the course of the NDPC.

Olatunji said Smith had spent his own money, time, energy, and done all he could to make the commission what it was currently in the ecosystem by creating awareness and training on data protection in churches, markets, schools among others. (NAN)(www.nannews.ng)

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Edited by Christiana Fadare