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How Businesses, Govt Can Re-strategize After COVID-19 – Adedayo Amzat

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Adedayo Amzat, group managing director,  Zedcrest,  has advised corporate organizations to rethink their business model and adopt technologies that would keep the green-light on – should another pandemic of COVID-19 scale ever happen again.

In an Instagram Live Chat with Peter Oluka, editor of TechEconomy.ng  on the theme; “Implications of COVID-19 on Nigerian Economy: Way Forward for Businesses”, Amzat stated that the battle against COVID-19 is one that leaders today must win if we are to find an economically and socially viable path to the next normal.

According to him, “This is worse than the worst case scenario that businesses plan for”; noting that the last time the world experienced a pandemic like this was 1918 (the Spanish flu).

“No company or individual could have foreseen and made adequate preparations to mitigate the effects of the COVID-19 pandemic on economies and businesses.

“Businesses are shutting down in their numbers because this crisis is unprecedented.

“In order to stay alive, businesses will require a shift from a brick and mortar mind set to exploring digital channels to reach their consumers.

“What we have now are opportunistic winners. Digital business are taking over brick and mortar businesses”, he said.

He stated that very few insurance packages have pandemics in their contracts which unfortunately mean that many businesses will struggle after the pandemic.

The financial expert also urged the government restructure its finances and to give more support to agriculture, mining and other sectors that can create jobs to cushion the effect of the COVID-19 crisis on the Nigerian economy.

Adedayo Amzat, group managing director,  Zedcrest

“Before now, the government has been trying to move the economy from an export driven economy to a consumption driven one.

“There should be more local aggregate demand to drive the economy. Government has heavily invested in supporting the agricultural sector. With lessons that we have learnt during this COVID-19 crisis, it makes sense to deepen internal competences across different sectors.

“Agriculture has the capacity to employ a lot more people. Our first problem in Nigeria is unemployment, if we can develop our agriculture value chain, a lot more people will be employed.

“Almost 100 million Nigerians live in abject poverty, but remember, poverty isn’t just the lack of money, and it is also lack of access to information that can lift you out of that poverty.

“Agriculture can increase aggregate demand and we can generate more tax revenues, which can make our GDP more liquid.

“We have a GDP of $360 billion, but we don’t make up to $20 billion in tax revenue. We can make our GDP more liquid by ensuring that people get to work”, he explained.

Amzat opined that the government also needs to increase funding and encourage more research in the health sector.

“There was a video by Bill Gates that he did after the Ebola crisis, everything he said is happening right now.

“There is this theory that anything that can go bad will one day go bad. We have to have a plan for every possible situation. We need to create our health sector response and model it after the military.

“The military is funded even when there is no war, it’s like an insurance. Every year there is one health crisis or the other so why do we not have the same response for the military?

“What if HIV comes back what are we going to do? We have to have reserve health doctors that can be called upon for periods when there are health crisis that can overwhelm the health sector”, he urged.

The Zedcrest Group boss concluded that this is the best time to reduce the cost of governance by slashing the prodigious salaries and allowances of political officers; needless tours and other ostentatious expenses.

For now, Zedcrest Group has since activated its business continuity plan which amongst other elements includes work from home arrangement for staff.

The Group’s consumer finance outfit, Zedvance Finance Limited remains one of the lending firms that are still active at this time through their digital channels.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Nigerians Consume N5 Trillion Worth of Data in One Year

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The 2023 Subscriber/Network Performance Report of the Nigerian Communications Commission (NCC) has shown that consumers’ telecommunication spending hit N5.30 trillion in 2023.

Nigerians Consume N5 Trillion Worth of Date in One Year

The recent figure is a 37.54 percent increase from the N3.86 trillion recorded in 2022.

According to NCC, the increase in spending was fuelled by a spike in data consumption, which translated to higher revenues for telecom operators including mobile network operators, fixed wired, internet service providers, and other telecom services.

“The total volume of data consumed by subscribers increased to 713,200.62TB as of December 2023 from 518,381.78TB as of December 2022. This represents an increase of 37.58 percent in data consumption within the period. The increased data consumption is indicative of the increasing appetite and use for data by consumers,” the NCC said.

This increase in data consumption coincides with only a margin increase in voice calls, with total outgoing calls hitting 205.29 billion minutes, a 0.59 percent increase from the 204.09 billion minutes recorded in 2022.

The total number of active subscriptions increased from 222.57 million in 2022 to 224.71 million, attributed to subscriber loyalty, promos, aggressive consumer acquisition drive, and competitive product offerings across all the networks.

NCC stated that internet subscribers increased from 154.85 million in 2022 to 163.84 million in 2023, and broadband penetration declined from 47.36 percent to 43.71 percent.

This growth in internet consumption has continued into 2024, thanks to increased streaming services and smartphone penetration.

It would be recalled that Karl Toriola, chief executive officer of MTN Nigeria, recently noted that telecom companies are set to benefit from increased demand for data services, which has become the primary driver of telecom revenue.

Between January and September 2024, MTN Nigeria and Airtel Nigeria reported combined data revenues of N1.63 trillion, up from N254.32 billion in the same period of 2019. Over this time, voice revenues—once the primary income source for telcos—grew by only 70.74 percent to N1.44 trillion.

Data usage per user has grown, with MTNN reporting that its average data usage per user rose to 11.3GB in September 2024 from 7.8GB in March 2023.

For Airtel Nigeria, monthly usage increased from 2.8GB in March 2021 to 8.1GB in September 2024.

“We are positioning ourselves to capture the opportunities of growth for the next 10 years. The demand for data in Nigeria is exceptional and will continue to grow,” Toriola stated.


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Glo Festival of Joy Promo Draws Lucky Winners in Abuja

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Globacom’s Festival of Joy promo took the centre stage in Abuja on Friday as the company held a draw to select lucky winners of exciting prizes.

The event, held at the Gloworld office on Aminu Kano Crescent, Wuse, was witnessed by officials of the National Lottery Regulatory Commission (NLRC), Glo subscribers, and media representatives.

This draw marks another milestone in the Festival of Joy promo, which has been rewarding subscribers across Nigeria since its launch in October 2024.

Lucky winners in Abuja will receive their prizes, including a brand-new Toyota Prado, tricycles, sewing machines, generators, and grinding machines, on Wednesday, January 22, 2025.

To participate in the promo, new and existing subscribers can dial *611# and recharge their lines (voice and data) during the promo period.

Globacom explained that, “Customers are required to recharge up to N100, 000 cumulatively during the promo period to qualify for the draw for the Prado Jeep, N50, 000 cumulative recharge for Kia Picanto, N10, 000 in a month for tricycle and N5, 000 total recharge in a month to win a generator.

“For the sewing machine, a total recharge of N2, 500 in a month is required, while for the grinding machine, a recharge of N1000 in a week will be eligible for the draw,”.


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MTN Subscribers Enjoyed Best Internet Performances in 2024 – Report

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The subscribers of MTN Nigeria enjoyed the best mobile Internet performances in 2024, according to nPerf’s 2024 report, which analysed mobile internet performance across Nigeria.

MTN Subscribers Enjoyed Best Internet Performances in 2024 - Report

nPerf, a French company has been a trusted partner for both fixed and mobile operators, providing comprehensive network testing solutions and analysis.

According to nPerf, in 2024, the mobile market in Nigeria saw significant developments and the leader for this period is MTN, maintaining its position as the global winner.

From January 1 to December 31, 2024, MTN led mobile internet in Nigeria across every measurable category, with great performance. Its subscribers enjoyed an average download speed of 17.82 Mbps, leaving Airtel at 9.98 Mbps and Glo at a distant 5.66 Mbps.

“This period highlights MTN’s continued dominance as the market leader, with no new entrants taking the lead in 2024. MTN emerged as the sole leader, showing impressive advancements across various KPIs and focus areas. The analysis showcases MTN’s superiority in Download speed, Upload speed, and Latency.

Upload speeds were similar, with MTN averaging 8.05 Mbps, Airtel 4.35 Mbps, and Glo 3.43 Mbps, even as reliance on solid internet connectivity never stopped increasing.

Latency, an important metric for real-time applications such as video calls and gaming, further enhanced MTN’s place in the market. The network achieved an average latency of 79.44 ms, comfortably outperforming Glo’s 89.44 ms and Airtel’s 119.85 ms.

MTN Subscribers Enjoyed Best Internet Performances in 2024 - Report

These figures are particularly important during peak periods (6 PM to 11 PM) when the network issues are at the highest. MTN’s ability to maintain consistent latency levels during these busy hours speaks to its superior infrastructure.

Beyond raw speeds, the quality of experience (QoE) was also analysed. In browsing performance, MTN scored an average success rate of 36.08%, surpassing Airtel at 28.86%, while Glo lagged at 29.42%.

This difference was also seen in video streaming, where MTN recorded an average streaming success rate of 72.35%, overshadowing Airtel’s 67.04% and Glo’s 53.81%.

Airtel, despite being a distant second in most metrics, delivered a commendable performance in specific areas, particularly video streaming.

Its streaming rate, at 67.04%, shows a strong emphasis on delivering quality experiences in this domain.

However, Airtel’s inability to match MTN’s speeds, browsing performance and latency asserted the gap between the two providers.

Glo, on the other hand, had steady progress throughout 2024. Although it lagged in download (5.66 Mbps) and upload speeds (3.43 Mbps), its performance in latency (89.44 ms) revealed some improvement in network responsiveness.

Glo’s focus on enhancing connectivity is obvious, but it remains apparent that the provider has some ground to cover before it can challenge the likes of MTN or even Airtel.

The data disclosed that whether downloading, browsing, or streaming, MTN subscribers always enjoyed the best experiences.

In the 4G focus area, MTN also stands out as the leader. These achievements underline the positive trends and strong market dynamics” according to nPerf.

The report also said that not only does MTN excel in download speed, upload speed, and latency, but it also leads in Video streaming.

nPerf’s report added that MTN dominates the 4G focus area, reinforcing its pioneering position in the mobile technology sector.

“Significant improvements include a remarkable enhancement in Upload speed. MTN’s consistent contributions have greatly strengthened the overall market landscape” it said

On Airtel, nPerf reported excellence in browsing and streaming, adding that Airtel, while not the market leader, demonstrates excellence in specific categories.

“With a strong performance in browsing and video streaming, Airtel secures its place as a key player. The operator’s contributions are vital to the market’s competitiveness, and its focus on enhancing user experience is evident” nPerf reported.

nPerf further reported that Glo showed steady progress with a commendable improvement in its overall score.

Although not a market leader, Glo has shown improvements in various areas, contributing positively to the market’s dynamics. The operator’s focus on enhancing connectivity and customer satisfaction is noteworthy, according to nPerf.

 


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