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How and Why Internet Access is Prohibitive
Dearth of infrastructure; vandalism; lack access to finance; and epileptic public power supply among others have all conspired to send the cost of internet access to the rooftops , thereby keeping millions of Nigerians out of the information superhighway, Nigeria CommunicationsWeek can now reveal
Access to the Internet is deemed a basic human right that should be guaranteed and protected by states by the UN Human Rights Council.
But in Nigeria, the ability of telecommunications operators to deploy requisite broadband infrastructure needed to improve internet penetration is being hampered by prohibitive cost of right-of-way.
The federal government has announced a new right-of-way policy to ease difficulties encountered by operators in the erection of telecom infrastructure but it is not being enforced as there are still absurd levies by various agencies and state governments on right-of-way approvals.
Nigeria is also facing man-made internet dam because it has enough bandwidth capacities from the various sub marine cable companies sitting on her Atlantic shore but lack sufficient inland fibre optic infrastructure to carry the bandwidth to offices and residences in the hinterlands.
Similarly, the sustained attacks by Boko Haram, the Islamic sect on telecommunications’ facilities as well as acts of vandalism pose dangers to investments in the sector.
The willful destruction and vandalism of telecoms infrastructure and equipment; added to the high cost of maintaining the infrastructure after deployment have made operators to concentrate on parts of the country where there are relative peace.
Omobola Johnson, minister, communications technology, even concurred at a broadband summit 2012 held in Lagos in December, when she said that “No right thinking infrastructure provider will invest in the deployment of infrastructure, if this situation prevails.
We will continue to have tremendous under-utilised capacity of international bandwidth,’’ she said.
Nigeria CommunicationsWeek gathered that well over 90 per cent of Nigerians still lack access to the web, as well as personal computers.
Poverty has become a household name in Nigeria. Majority of the country’s population, according to the statistics released by the National Bureau of Statistics are poor.
The nation’s financial institutions are not helping matters because of their reluctance to lend to majority of poor Nigerians to purchase basic ICT tools to lift them out of poverty lines.
There are also problems of multiple taxes; and the notoriously unreliable public power supply.
Operators are subjected to multiple taxes from all tiers of governments who see telcos are milk cows which must be milked dry.
Some states, ministries, departments and agencies (MDAs) of government even employ extra-legal means to coerce operators to submit to the payment of illegal taxes
As if that is not enough, telcos have all turned to independent power producers to power their operations while public power supply is standby.
The power supply is like the nerve, in fact, the engine of production.
The near absence of public power supply has a devastating effect on businesses and has forced many smaller telecom companies to close shop because they could no longer remain competitive.
Nigeria CommunicationsWeek also gathered that internet access has continued to elude majority of Nigerians because global System for Mobile communications operators are holding firm to their dominance of the dongle segment of internet service provision by frustrating Internet Service Providers with the pre-requisite technology from rolling out such service.
A dongle is a small USB device that allows a user access the internet with a 3G mobile broadband connection.
For any internet service provider be it telecommunications provider or traditional ISP to be able to launch dongle mobile broadband service especially in cities such Lagos, such provider must have multiple base transceiver stations (BTSs).
Presently, only GSM service providers have the required number of base stations, some with as much as 800 in Lagos alone.
It was gathered that GSM operators are reluctant to collocate with ISPs for fear that their (GSM providers) market may be eroded if the ISPs ride on their back to deploy 4G services said to be profoundly disruptive.
It is profoundly disruptive because it will slash the cost of internet service by more than 1000 per cent.
First Asset Management Limited, a subsidiary of First HoldCo Plc, has received the prestigious Fund Manager of the Year 2024 award. This accolade was conferred during the inaugural Capital Market Choice Awards, hosted by Nairametrics Financial Advocate Limited, underscoring the firm’s commitment to excellence and wealth creation.
The prestigious awards ceremony honoured the significant achievements of key players in the financial market, including operators, regulators, investors, and stakeholders. Their commitment and impact were crucial in fostering the growth and stability of Nigeria’s capital markets industry in 2024.
First Asset Management has received recognition for its commitment to quality service and innovation in the investment and asset management industry. This recognition reflects the firm’s exceptional performance, excellence in service delivery, and significant contributions to the financial ecosystem.
Ike Onyia, Managing Director/CEO of First Asset Management, expressed his gratitude for the recognition and commended Nairametrics for its diligence and transparency in the award process.
“We are honoured to receive this recognition, which validates our unwavering commitment to delivering value to our clients and stakeholders. Client satisfaction is at the core of our operations. This award motivates us to continue pushing boundaries and providing innovative investment solutions,” he stated.
He further emphasised the company’s commitment to deploying customised investment strategies that address the varied objectives of its clients.
First Asset Management continues to elevate its reputation with an impressive collection of awards. For over five years, the firm has been celebrated as the Best Asset Manager in Nigeria at the EMEA Finance: African Banking Awards.
The firm has also earned recognition as a Great Place to Work and won the prestigious Excellence in Asset Management award at the 2024 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, showcasing its commitment to outstanding performance and a positive workplace culture.
The United Kingdom’s Minister for Africa, Lord Collins of Highbury, has concluded a three-day visit to Nigeria, aimed at reinforcing the UK-Nigeria Strategic Partnership.
He reaffirmed the UK Government’s strong commitment to deepening trade and investment ties between the United Kingdom and Nigeria.
During his visit, Lord Collins met with senior Nigerian government officials, business leaders, civil society representatives and United Nations agencies.
These engagements underlined the UK’s long-term drive to support Nigeria’s prosperity and stability while deepening bilateral cooperation for transformative growth across our shared priorities.
A key highlight of the visit was Lord Collin’s bilateral meeting with Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, in which both parties reaffirmed their unwavering commitment to strengthening economic ties and promoting regional security. The Minister was joined by the UK’s Trade Envoy to Nigeria, Florence Eshalomi MP.
Lord Collins also met with Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, and discussions focused on opportunities to strengthen engagement between UK’s parliament and Nigeria’s National Assembly and the importance of furthering women’s participation in politics.
Speaking on his visit, the UK Government’s Minister for Africa, Lord Collins said: “Nigeria and the UK share a rich, ambitious relationship: one that is deeply rooted in respect.
“Our Strategic Partnership is at the forefront of this, and my visit has focused on how our countries can continue deepening our cooperation on key issues such as trade and investment to drive economic growth and deliver prosperity for us all.”
The Minister held discussions with United Nations representatives on the ongoing reform of the UN system, its implications for Nigeria and how the reform can effectively support those most in need, particularly in Northeast Nigeria, whilst also contributing to global humanitarian efforts.
Lord Collins also met with civil society leaders to discuss electoral integrity and governance reforms, reinforcing the UK’s commitment to democratic values and community empowerment.
He later visited Nigeria’s Anti-Kidnap Fusion Cell: a key security initiative supported by UK expertise through the National Crime Agency and the Integrated Security Fund, which plays a vital role in enhancing local safety and combating serious crime.
Also commenting on the visit, the British High Commissioner to Nigeria, Dr Richard Montgomery, said: “Driving growth is central to the UK’s foreign and development policy. Lord Collins’ visit to Nigeria underscores the UK’s unwavering commitment to deepening our shared prosperity through expanded trade and investment. We are proud to stand alongside Nigeria as it forges a resilient and dynamic economy.”
This visit underscores the UK’s enduring partnership with Nigeria – built on mutual respect, shared goals, and a vision for a prosperous future for both nations.
News
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria
In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of CSR programs across Kano and Kaduna. The CSR initiative named “Passing the Baton” represents the brand’s commitment to passing on knowledge and providing the resources individuals and businesses need to achieve financial independence and drive economic empowerment.
This initiative is a bold move by PalmPay to bridge the opportunity gap in the North by providing financial literacy training and micro-business branding support to 5,000 women-owned businesses in Kano and Kaduna. This strategic initiative reaffirms PalmPay’s commitment to inclusive development and economic empowerment, particularly in underserved regions.
“At PalmPay, we believe that real financial inclusion must be far reaching and cover the grassroots,” said Chika Nwosu, Managing Director of PalmPay. “Our new CSR program is focused on supporting gender equity by equipping women with the knowledge, tools, and visibility they need to thrive as entrepreneurs in their communities.”
Through this initiative, beneficiaries will receive free health insurance, hands-on training workshops, enhanced store branding to boost visibility, and branded merchandise to strengthen their business presence.
The initiative is part of PalmPay’s broader strategy to extend its innovative solutions, expand its footprint in Northern Nigeria, while building sustainable partnerships with local stakeholders for long-term impact.
In a show of support, His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, has endorsed the initiative, calling on other stakeholders to join forces with PalmPay in ensuring the North benefits fully from the growing digital economy. PalmPay has received commendation from community stakeholders, as the initiative aims to serve as a model for similar projects across other northern states.
As PalmPay continues to scale across Nigeria, the company remains committed to bridging the financial inclusion gap and empowering underserved groups, particularly women and youth, through its innovative solutions and impact initiatives.
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