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9mobile CEO Emphasizes Critical Role of Tech, Agro, Others in Driving Sustainable Non-Oil Exports in Nigeria

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L-r: National Director, BNI Nigeria, Chimaobi James Agwu; Executive Chairman, Adebola Sobanjo & Co, Dr. Adebola Olubanjo; Former President, Chief Olusegun Obasanjo; Orunto Owu, Chief Abiodun Lasile, and CEO, 9mobile, Obafemi Banigbe at the BNI National Conference 2024 held in Abeokuta, Ogun State
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Obafemi Banigbe, the Chief Executive Officer of 9mobile, has emphasized the critical role of Technology, Agriculture, Manufacturing, and Creative sectors in driving Nigeria’s non-oil export growth.

Speaking at the 2024 BNI National Business Conference held recently in Abeokuta, Ogun State, Banigbe stressed the importance of diversifying Nigeria’s economy through these key sectors.

He said,“Nigeria’s overdependence on oil has made the country highly vulnerable to global economic shocks and recession. It is crucial that we diversify our economy to mitigate these risks. By doing so, we can tap into global opportunities and reduce our susceptibility to economic downturns.

“The impact of the Naira’s depreciation is a stark reminder of the need for diversification. The Naira has lost significant value compared to its worth just a few years ago, affecting everyone. Diversification is no longer just a strategic option; it is essential for creating jobs, generating foreign exchange, and strengthening our economy’s resilience”.

Banigbe explained that “Nigeria is home to one of the world’s most vibrant technology ecosystems, and its tech industry is growing at an incredible pace, making it the fastest-growing sector in the country. With a dynamic young population and an increasing demand for digital solutions, Nigeria’s tech ecosystem has immense potential to drive non-oil growth and become the nation’s biggest export.

“The country’s tech ecosystem is characterized by a large consumer market of over 200 million people, with more than 500 active and viable startups, and a rapidly growing tech industry. Lagos, Abuja, Ibadan, Kano, and Aba are key startup cities, with Lagos being the most valuable startup ecosystem in Africa, valued at $2 billion”.

He further stated that Agriculture has the potential to drive growth and provide livelihoods for millions of Nigerians. The sector accounts for up to 35% of total employment in Nigeria and contributes significantly to the country’s GDP. With the right investment and support, agriculture can become a key driver of Nigeria’s economic diversification.

Other non-oil opportunities which can be explored include the Fintech companies which have changed the payment system in Nigeria and globally, electronic commerce which has so far created more SMEs than we have seen in the last decade and Education technology which became more popular with the advent of COVID-19. “9mobile is seeking to explore some of these opportunities to position itself as the enabler of the creative and innovative economy”, Banigbe added.

Beyond oil, Nigeria has a plethora of untapped opportunities waiting to be harnessed. Key areas of focus include Fintech which is revolutionizing payment systems locally and globally, with companies like Flutterwave, Paystack, and PiggyVest leading the charge; E-commerce currently fueling the growth of SMEs, with platforms like Jumia, Konga, and Opay creating new avenues for entrepreneurship; Education Technology which is transforming learning experiences, especially since COVID-19, with innovative solutions from companies like uLesson, Roducate, and Tuteria.

“We at 9mobile are committed to exploring these opportunities, positioning ourselves as a catalyst for Nigeria’s creative and innovative economy,” Banigbe concluded.

The 2024 BNI National Business Conference with the theme featured a distinguished lineup of speakers, such as Nigeria’s former President, Chief Olusegun Obasanjo, as the Special Guest of Honour, alongside other notable figures including Dr. Adebola Olubanjo FCA, and Chief Kola Akosike of Oduacimma represented by Chief Abiodun Lasile.

 


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FCCPC Insists Telcos’s Tariff Hike must Translate to Improved Services

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Federal Competition and Consumer Protection Commission (FCCPC) said on Wednesday that it has accepted the decision of the Nigerian Communications Commission (NCC) to approve a 50 per cent hike in telecommunications tariffs, down from the 100 per cent hike proposed by telecom operators.

FCCPC Insists Telcos’s Tariff Hike must Translate to Improved Services

FCCPC acknowledged the intense pressure faced by the NCC over the years to approve tariff increases due to the rising operational costs experienced by telecom operators, which became more pronounced in recent times.

It commended the NCC for adopting a deliberate and measured approach by rationalising the tariff adjustment and linking it to commensurate improvements in service quality, while implementing other measures to mitigate the impact on consumers.

However, the commission strongly insisted that the tariff hike must translate to significant quality and improved services, stressing that it will resist a situation where Nigerians are charged for poorly delivered services, particularly in areas like voice calls, data, and other services with the tariff hike.

FCCPC, in a statement on Wednesday by Ondaje Ijagwu, director of Corporate Affairs, asked telecom operators to disclose all key details upfront, including the cost, validity period, and specific inclusions of a plan.

It added: “Consumers can also expect a mandatory disclosure table from the service providers to enable them to make informed decisions without worrying about unexpected charges or surprises.”

The commission further noted that consumers have consistently expressed a desire for measurable improvements in service quality before any tariff increases are implemented. “Issues such as network congestion, dropped calls, inconsistent internet speeds, unusual data depletion, and poor customer service have remained prevalent concerns. It is, therefore, crucial that tariff adjustments directly translate into demonstrable and tangible service enhancements for consumers.”

FCCPC asked that telecom operators prioritise visible and measurable improvements in network reliability, speed, accessibility, and customer service as part of any tariff adjustment, insisting that the rationale for the increase must be reflected in better services for consumers who, apparently, rely on telecommunications for both personal and business purposes.

The commission suggested that operators allocate increased revenues responsibly, with an emphasis on infrastructure development and service delivery improvements, stressing that clear mechanisms must be established to monitor how the funds are utilised, ensuring that consumers directly benefit from the adjustments.

“Operators must also clearly communicate the rationale for the tariff adjustments to consumers, ensuring that consumers are fully informed about the nature of the changes, the benefits, and how it aligns with efforts to improve service delivery and infrastructure,” it added.

The commission referenced its recent Memorandum of Understanding (MoU) with NCC, which, it said, provided a unified framework to oversee the implementation of the tariff adjustment in a manner that meets the needs of consumers.

It said the partnership ensures that the increase does not become a justification for exploitative practices, but an opportunity to foster fairness, transparency, and accountability in the telecommunications sector.

“As Nigeria embraces rapid technological advancements and increasing reliance on digital connectivity, it is imperative that the benefits of a thriving telecommunications ecosystem extend to all stakeholders, particularly consumers,” it added.

The FCCPC assured Nigerians that, together with the NCC, it will continue to pursue measures that uphold these objectives. “We are committed to closely monitoring the impact of the tariff adjustments to ensure compliance with established regulatory standards.”

It also reminded telecom operators that the FCCPC is actively working with NCC to address concerns raised by consumers during the transition period and beyond, and encouraged consumers to freely report any unfair practices or concerns through its official channels to ensure effective resolution.

 


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Sub-Saharan Africa Lost $1.56Bn to Internet Shutdown in 2024 – Report

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Sub-Saharan African countries lost $1.56 billion to government-induced shutdowns in 2024, according to a new report by Top10vpn, an international VPN review website.

Sub-Saharan Africa Lost $1.56Bn to Internet Shutdown in 2024 – Report

This is 19 per cent of the total $7.69 billion that was lost to Internet shutdowns worldwide and a 10 per cent decline from $1.74 billion reported in 2023.

According to the report, there were a total of 28 Internet shutdowns across 28 countries. Thirteen of these were African countries — Sudan, Ethiopia, Kenya, Algeria, Guinea, Mauritania, Senegal, Mozambique, Chad, Mauritius, Tanzania, Papua New Guinea, and Equatorial Guinea.

It revealed that Nigeria stood out as one of the few sub-Saharan African countries to avoid internet shutdowns in 2024.

Experts said the absence of an internet shutdown suggests that people in that country have continuous and unrestricted access to the internet, allowing them to communicate, access information, and participate in online activities without disruption imposed by the government.

Sudan is the African country that lost the most — $1.12 billion — to Internet shutdowns. Total Internet shutdowns in the country lasted for more than 12,707 hours or over 529 days.

The Internet shutdown in Sudan is mainly due to a prolonged conflict in the country, which has claimed 13,000 and displaced more than 10 million people.

Other African countries like Kenya and Ethiopia shut down the Internet because of protests.

 

Both countries lost $75 million and $211 million to Internet shutdowns, respectively.

Major platforms such as X, TikTok, Signal, Facebook, Instagram, and WhatsApp were restricted, affecting approximately 111.2 million internet users in the country.

“In late February 2024, authorities in Myanmar once again started blocking access to X. As this was a new restriction. This is also the second year we have included blocks of newer social media platforms, such as TikTok and Telegram,” it said.

Globally, Asia led in terms of internet shutdowns in 2024, losing $4.64 billion over 48,807 hours of disruptions affecting 331.3 million people. Sub-Saharan Africa followed with $1.5 billion in losses spread over 32,938 hours and impacting 111.2 million internet users.

While the global economic impact of internet shutdowns decreased by 16 percent compared to 2024, the duration of shutdowns increased by 12 per cent in the same period.

The report emphasised the damaging effects of internet shutdowns, both in terms of economic and human costs, and highlighted concerns about citizens resorting to unsafe VPNs to circumvent imposed restrictions.

 

 

 

 

 


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USSD Dispute: FG May Blacklist 18 Banks Allegedly Owing Telcos N250Bn

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Indications have emerged that federal government may this week list names of 18 banks owing almost N250 billion naira to Nigerian telecom operators on Unstructured Supplementary Service Data (USSD), and have remained adamant towards settling it for several years.

USSD Dispute: FG May Blacklist 18 Banks Allegedly Owing Telcos N250Bn

Nigerian Communications Commission (NCC) has reportedly been given the nod to publish the names and approve that telcos withdraw services to them if after two weeks they fail to settle the debts, according to Vangaurd.

Recall that the issue of banks’ multi billionnaira USSD debt to telcos has lingered since 2020, rising from below N40 billion to N57 billion by the end of 2021 and N80 billion in 2022.

But now, the telcos claim the debt has risen above N250 billion and accused the banks of not complying with the repayment plan.

The recent development, cannot be unconnected with a December joint meeting between the two regulators, NCC and the Central Bank of Nigeria (CBN) which resolved that the banks pay part of the money by December 31, last year and defray the remaining gradually.

However, Vanguard gathered authoritatively that only four banks complied with the directive, while 18 others are still adamant.

Similarly, when the matter brewed heavily a few years ago, the National Assembly, Central Bank of Nigeria, CBN, and the Nigerian Communications Commission, waded in and also generated such a gentleman’s agreement, which gave the banks leverage to defray the debts gradually.

However, that did not also happen as the banks allegedly reneged.

A few weeks ago Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), accused the banks of deliberately frustrating any move to resolve the issue and threatened that the only option, since the banks have consistently failed to honour the agreements, would be to withdraw the support that gives the USSD platform life.

 


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