News
Local Content: FG Pushes for Local Production of SIM Cards, Others
The federal government is worried that very little of the $18 billion Foreign Direct Investment (FDI) in the telecom sector over the years is retained in the country and has begun moves for local content policy, guidelines and legislation.
The government has also set an implementation date of January 2013, by which time; it expects to commence local production of subscriber identity module, base station transreceiver station (BTS), debit, credit and other payment cards.
Already, the Ministry of Communications Technology and key players in the industry are in discussions with offshore companies that are interested in establishing local companies to manufacture devices. It is also discussing with the Ministries of Finance and Trade and Investment on the most appropriate import and tax regime as an incentive for local manufacture.
Mrs. Omobola Johnson, Minister of Communications Technology, said, “The larger proportion of these cards are imported and sometimes personalised outside this country. There are a number of local companies that have the capacity to not only produce cards but also personalise them. Direct interventions must be made to ensure that a significant share of this market is captured by firms operating in Nigeria with of course the necessary high security assurances in place.”
She said that there was very high possibility that with the roll out of the cashless economy spearheaded by the Central Bank of Nigeria and the banking industry, the national and state identity management schemes and other card based services and the growing telecoms industry come 2015 or thereabouts, Nigeria could have close to 500 million chip cards in circulation.
The ICT industry contributed 5.6 per cent to gross domestic product (GDP) in 2011.
The industry has grown at an average of 30 per cent a year for the last two years making it one of the fastest growing sectors in the Nigerian economy.
Most of this growth comes from telecoms which have recorded over 90 million subscribers from about 400,000 in 10 years.
According to her, “The local content agenda that we are developing in the MCT and will soon operationalise is not so much a protectionist agenda but one that places priority on the development of our local industries by levelling the playing field or better still making it more advantageous for companies in Nigeria to do business with other companies in Nigeria.”
She noted that there were some unfortunate anomalies in the ICT industry. “It is cheaper to import a base station than to fabricate one in Nigeria. It is cheaper to import a chip card than to make and personalise them here. It is cheaper and many times more expedient to bring in a skilled resource from any part of the world than to invest in the training and capacity building of Nigerians.”
She stated that in a country with an addressable market of over 100 million in the ICT industry, only a miniscule percentage of devices that were used to access voice or data ICT infrastructure is made or assembled in Nigeria.
It is clear that liberalisation and private sector participation would not guarantee domestic value creation especially in industries where domestic value added was not significant in the first place,” the minister said.
She added that there was need for a deliberate focus, emphasis and approach to ensure that this happened as has been demonstrated by the local oil and gas industry. “In the recent past we have seen many examples of countries that are creating local jobs by stimulating local economies through increasing domestic productivity,” she added.
News
CWG Board of Directors Approves 400% Increase in Dividend Payout
CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.
This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.
Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”
This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.
As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.
News
Prof. Aliyu, AI Practitioner to Keynote ABoICT 2024
CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.
Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.
This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.
The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.
According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.
He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.
“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.
A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.
He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.
Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.
He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.
Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.
Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.
Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
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