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NEWS BITS from Nigeria, 19 June 2013

19-Jun-2013

NEW BROADBAND POLICY MAY EARN NIGERIA N600 BILLION
Experts on the telecommunications industry are lauding President Goodluck’s approval of a
national broadband policy, saying it has opened the door to further investments in the industry and
may have a direct revenue impact of N600 billion by 2016. Stanley Muoneke, Director, Business
Development, Intel Corporation (Nigeria) told BusinessDay that “investors now have clarity on
where the country is going in terms of broadband. The expected roles of government and the
private sector in the emerging broadband ecosystem are clearly defined.” It is said that if the policy
is implemented properly, it will open up the economy to investments, jobs will be created and small
businesses will spring up.

 

WIMBIZ TASKED ON SKILLS ACQUISITION FOR OPPORTUNITIES IN OIL, GAS SECTOR 
Women in Management and Business (WIMBIZ) has been challenged on skill acquisition to
tap into huge opportunities in the oil and gas sector against the backdrop of a report that only 9.6%
of women are represented at the oil and gas sector. Women were tasked to get acquainted with the
industry, look at the right financing, seek collaboration and be able to take risks. This was at an
interactive Breakfast Series tagged ‘Building Petro-Dollar Women’ – organised by WIMBIZ.

 

FG DESIGNATES 13 AIRPORTS AS PERISHABLE CARGO TERMINALS
In an effort to transform the aviation sector into a major revenue earner for the country, the
Federal Government has designated 13 airports as perishable cargo airports. Mostly affected are the
airports in proximity to food baskets and these are to be developed with international standard
perishable cargo facilities to enhance their generations. In the same vein, based on expression of
interest from the private sector and state governments, some cities are designated to host
perishable cargo terminals. They include Abuja, Akure, Calabar, Lagos, etc.

 

BUSINESSDAY BY THE NUMBERS: 370,000 
The Federal Government has proposed to create 370,000 jobs every year. It is part of
deliberate policy to expand the Nigerian economy, according to the Information Minister, Labaran
Maku. However, going by this figure, it will take 49 years to absorb all 18 million unemployed adults.

 

ACTIS $1.5 BILLION INVESTMENT IN NIGERIA, OTHERS’ PROPERTY MARKET TARGETS MIDDLE CLASS 
A London-based private equity company will lead investment as much as $1.5 billion in
African commercial property. It has a five-year plan to invest in projects including shopping centres,
office towers and industrial parks in fast growing economies like Ghana, Kenya and Nigeria. It has
been noted that African market is huge, under-supplied and imbalanced in its demand and supply,
according to Michael Chu’di of Actis (Nigeria). Actis is also pursuing deals in South America and
Southeast Asia in sectors including energy and technology.

 

CBN EXTENDS DEADLINE FOR KYC REQUIREMENTS FOR BUSINESSES, PROFESSIONS
The Central Bank of Nigeria has given additional 8 months after the expiration of April 30,
2013 deadline on the Know Your Customer (KYC) requirement for banks and other financial
institutions. This is in consideration of some challenges encountered by the Special Control Unit on
Money Laundering (SCUML). This development opens the way for Designated Non-Financial
Businesses and Professions (DNFBPs) that are yet to register with SCUML to do so before December
31, 2013 to avert losing their accounts with banks.

 

ETISALAT PARTNERS TECHNO FOR NEW ‘PHANTOM A’ SMARTPHONE
Etisalat has partnered with Techno to launch a new Phantom A into the Nigerian market.
The phone is designed for users with higher demand for smart-phones. It is available at all Etisalat
Experience Centres and Techno authorised retailers across Nigeria. Speaking at the launch of the
phone in Lagos, the director of products and services, Etisalat Nigeria, Lucas Dada, said that the
partnership with techno is to bring to customers easy, affordable and reliable access to the internet
through smart-phones.

 

GLOBACOM, AIRTEL IN HEATED BATTLE FOR SECOND SPOT IN TELECOMS
According to reports, Airtel’s active mobile subscriber mark has crossed the 117,271,067
mark. It is inching closer to Globacom which has held the number 2 position in terms of market
share. As at the first quarter of this year, MTN has a subscriber number of over 51.2 million active
lines, thereby maintaining a healthy lead over all the players, according to a report from Nigerian
Communications Commission (NCC).

 

ETISALAT LEADS MNP RACE WITH OVER 50% PORTED NUMBERS
On Tuesday, Weal Ammar of Etisalat disclosed that his company has a huge lead in the race
of subscriber acquisition with almost 50% of ported numbers coming its way. He says, “We set out
early in our business to ensure that we developed products and services that suit the lifestyle of all
our target customers. We have a reliable network to accommodate existing and new customers and
these efforts have been recognised by the NCC and other stakeholders in the telecoms industry.”

 

ABA IS ON A GROWTH PATH, SAY STAKEHOLDERS
With the ongoing security and infrastructure rebuilding by the Federal and Abia state
Governments in Aba (the commercial hub of the South-East), stakeholders say that Aba is on a
growth path. Prof. Inyanga of Imo State University Owerri, while delivering a paper titled “Marketing
Aba for Global Competiveness”, at the inauguration of the National Institute of Marketers of Nigeria
(NIMU), advised entrepreneurs and industrialists to desist from faking of products, cheating of
customers, and improving the quality and packaging of their products. These they must do, if Aba
must be marketed globally. Eva Onwuzigha, Vice President, agric, solid mineral and tourism, Aba
Chamber of Commerce, Industry, Mines and Agriculture (ACCIMA), also revealed that embassies of
China, Taiwan, Turkey, among others are presently seeking to do business with Aba business men,
urging entrepreneurs who are yet to register with the Chamber to do so.  

 

BADAGRY PORT WILL SUPPORT NIGERIA’S INDUSTRIAL DEVELOPMENT PLAN, SAYS AGANGA
 The Minister of Trade and Investment, Olusegun Aganga, has identified the proposed
Badagry mega port project as a critical tool that will aid Nigeria’s industrial development. Surely, the
port will transform Nigeria’s global trade access by creating a modern multipurpose port on the
African continent, with container, bulk, petrochemical and RoRo cargo-handling capability. The port
is timely, especially now that Nigeria is experiencing increased pressure on trade and economic
performance, leading to partnerships between the government and private terminal operators, to
speed up infrastructure development, create new jobs and attract more investments from the world
over.


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