Business
Lagos, Ogun Lead as Internet Users Hit 164 Million
According to the National Bureau of Statistics, Lagos and Ogun states are driving Nigeria’s digital growth. The National Bureau of Statistics’ NBS Telecoms Data report for the first quarter of 2024 shows that Lagos State has 18.84 million active internet users, while Ogun State has 9.53 million.
The report also highlights significant regional disparities, as other states show varying degrees of internet adoption. Kano State, for example, has 9.07 million internet users. Lagos has made significant progress in enhancing
digital connectivity by completing 2,700 kilometers of fiber optic infrastructure.
Tumbosun Alake, the state’s IT chief, claims that this accomplishment is a component of a bigger plan to persuade telecom providers to offer broadband services to underprivileged areas. By 2027, Lagos hopes to have added 3,300 kilometers of fiber, bringing the total to 6,000 kilometers.
However, the state needs a more extensive network of 36,000 kilometers for complete coverage, underscoring the requirement for private-sector cooperation to achieve this goal. Furthermore, the report noted a 4.33% rise in internet subscriptions to 164 million, while voice users fell by 3% to 219 million.
In the first quarter of 2024, the total number of active voice subscribers was 219,304,281, down from 226,161,713 in the first quarter of 2023, indicating a -3.03% growth rate. Active voice subscribers decreased by 2.41% from quarter to quarter.
Additionally, the total number of active internet subscribers in the first quarter of 2024 was 164,368,292, up from 157,551,104 in the first quarter of 2023, indicating a 4.33% rise. This increased by 0.32%There was a problem generating a response. Please try again later.
Nigerian banks’ rush to upgrade their core banking systems has caused confusion and frustration for many customers. With banks upgrading to more secure software, the lack of communication and customer support has left millions unable to access their funds, sparking questions about the bank’s commitment to customer welfare.
Dr. Uju Ogubunka, President of Bank Customers Association of Nigeria (BCAN), emphasized the severe impact of these disruptions, stressing the need for better communication and customer preparedness during such transitions. Banks must strike a balance between technological upgrades and customer service to retain trust, especially in an economy facing devaluation pressures.
Read Also:
Oando PLC Makes Historic Acquisition Of Nigerian Agip Oil Company, Reshaping Nigeria’s Oil And Gas Landscape
Customer Reviews on “Diaspora Watch”
Amina Oluwatoyin, Lagos, Nigeria:
“Diaspora Watch is a vital source of information for Nigerians abroad. It connects us with home, highlighting issues and successes within our community. The articles are insightful and relevant, making it a must-read!”
Claire Dupont, Paris, France:
“Diaspora Watch offers a fresh perspective on African diaspora experiences. However, some articles lack depth. I hope for more thorough research and in-depth features in future issues.”
Li Wei, Beijing, China:
“Diaspora Watch provides a unique lens on the challenges and triumphs of Africans abroad. It’s a great resource for understanding the diverse narratives of our diaspora.”
Grace Aidoo, Accra, Ghana:
“Diaspora Watch bridges the gap between home and abroad, especially with its focus on community initiatives. It’s my go-to for news that matters to Ghanaians abroad.”
FREE Digital View:
https://diasporawatch.com/diaspora-watch-20th-edition-october-14-20-2024-your-trusted-source-for-global-news-and-insights/
Print on Demand: https://www.magcloud.com/browse/issue/2918067?__r=1069759
SUBSCRIBE TO DIASPORA WATCH NOW ON THE BELOW LINK !!!
https://diasporawatch.com/subscribe-to-diaspora-watch-newspaper/
As Nigeria commemorates its 64th Independence anniversary, the stark contrast between celebration and the persistent challenges of corruption, mismanagement, and unfulfilled promises becomes evident.
The editorial revisits historical attempts at reform, such as the Independent Corrupt Practices Commission’s (ICPC) prosecutions and the House of Representatives’ inquiry into the unfulfilled $14.5 million aircraft repair contract. Many of these initiatives have faded from public memory, leaving questions about accountability unresolved.
High-profile corruption cases, including the Halliburton scandal involving alleged bribes of $180 million, highlight systemic failures within the political landscape.
The editorial emphasizes the need for collective action from citizens, civil society, and the media to demand transparency and accountability. It warns that without addressing these entrenched failures, Nigeria’s path toward democracy and good governance may continue to be fraught with unfulfilled promises.
Dive into the world of Diaspora Watch and stay informed, engaged, and inspired.
FREE Digital View: https://www.flipsnack.com/excelglobalmedia/diaspora-watch-vol-19-october-7-13-2024/full-view.html
Print on Demand: https://www.magcloud.com/browse/issue/2918067?__r=1069759
SUBSCRIBE TO DIASPORA WATCH NOW ON THE BELOW LINK !!!
https://diasporawatch.com/subscribe-to-diaspora-watch…/
In a significant blow to Scotland’s energy sector, the 100-year-old Grangemouth refinery is set to close in 2025, citing its inability to compete with modern plants in Africa, Asia, and the Middle East. The refinery’s operator, Petroineos, announced the closure, which will result in the loss of 400 jobs.
Located in Scotland, Grangemouth refinery has been in operation since 1924, making it the country’s oldest and only refinery. However, despite its rich history, the refinery has struggled to remain competitive in the face of mounting global competition. Petroineos, a joint venture between PetroChina Internation al London (PCIL) and INEOS Group, a British chemicals firm founded by billionaire Sir Jim Ratcliffe, has invested $1.2 billion in the refinery since 2011.
However, the company has incurred significant losses, totalling over $775 million during the same period. According to Petroineos, the refinery is currently losing around $500,000 per day and expects a $200 million loss in 2024.
The company’s Chief Executive, Frank Demay, stated that the market for petrol and diesel fuels is expected to shrink further due to the upcoming ban on new petrol and diesel cars within the next decade. “Grangemouth is increasingly unable to compete with bigger, more modern and efficient sites in the Middle East, Asia and Africa.
Due to its size and configuration, Grangemouth incurs high levels of capital expenditure each year just to maintain its licence to operate,” Demay explained. The closure of Grangemouth refinery marks a significant shift in the global oil refining landscape, with modern and efficient plants in Africa, Asia, and the Middle East gaining a competitive edge. The Dangote Refinery in Nigeria, one of the largest refineries in Africa, may have contributed to the decline of Grangemouth refinery.
The refinery will be converted into a fuel import terminal, ensuring Scotland’s energy needs are still met. However, the closure raises concerns about the country’s energy security and the impact on local communities.
Read Also
Oando PLC Makes Historic Acquisition Of Nigerian Agip Oil Company,
Reshaping Nigeria’s Oil And Gas Landscape
Hurray! It’s the 25th Edition of Diaspora Watch!
Cybersecurity and Data Protection in Africa
Diaspora Watch Vol. 24: A New Era, A Historic Victory, and the Pulse of the Global African Experience
Diaspora Watch 20th Edition (October 14-20, 2024): Your Trusted Source for Global News and Insights
Revolutionary mRNA Lung Cancer Vaccine Trial Offers New Hope To Thousands
