Business
Submarine cable investments hit $2.2tn, says FG
Investments in submarine cables in the country have risen to $2.2tn, the Federal Government has said.
It stated on Tuesday that the investments were done in the last five years, adding that more investors were currently investing in submarine cables in the Information and Communications Technology sector.
The Minister of Communications, Adebayo Shittu, who disclosed this at the Nigeria Internet Governance Forum in Abuja, also stated that mobile broadband penetration had increased to 20.95 per cent.
According to him, Internet penetration has also witnessed appreciable progress, as over 103 million citizens now use the Internet.
Shittu said, “The Ministry of Communications has attained some major milestones in its mandate of developing the telecom and ICT sector. Today, Nigeria’s active mobile broadband penetration has gone from less than 10 per cent in 2015 to 20.95 per cent in 2017. Nigeria’s Internet penetration has hit a milestone of 47.44 per cent.
“Nigeria is undoubtedly Africa’s highest active Internet user, with over 103 million subscribers as of May 2018, and ranks 10th globally. The bulk of these data subscribers are on 4G technology, with a good number of telecommunications providers now offering 4G LTE services.”
He stated that it was the belief of the Federal Government that as a nation, broadband Internet access should be right of every citizen just like water and air.
“Nigeria has attracted investments of over $2.2tn in submarine cables alone in the last five years. Many other active submarine cables are currently under construction,” he said.
The minister observed that ICT talent in Nigeria was enormous, adding that the government had been working hard to further develop the skill set in the industry.
He stated, “With the abundance of talents in Nigeria, the global community stands to benefit from our skills because it is indeed a new Nigeria that we are looking at.
“I am happy to remind us that a few months ago, JAMB’s database was attacked by cybercriminals. This took NITDA (National Information Technology Development Agency) only a few hours to put it back on stream. I mean our own NITDA.
“So, when people come together and share ideas, it will benefit a greater percentage of Nigerians, particularly in a sector like the ICT.”
Business
NIMASA DG calls for contributory pension for dockworkers


…As agency hosts maiden ‘day of the dockworker’ event
By Seun Ibiyemi
It was a milestone event for the local maritime industry as the Nigerian Maritime Administration and Safety Agency (NIMASA) hosted the maiden edition of the ‘Day of the Dockworker’ in Lagos recently.
With the theme of the event being “Healthy Dockworker, Better Productivity,” it was an opportunity for stakeholders gathered to not just appreciate the efforts of Nigerian dockworkers at the center of the nation’s import-dependent economy, but also to focus on ways of improving their health and general well-being.
Delivering his welcome address at the event, the NIMASA Director General, Dr. Bashir Jamoh OFR, charged employers of labor to ensure all dockworkers are enrolled on contributory pension schemes, while also emphasising the need for operators of Oil and Gas Terminals to allow only approved stevedores aboard their installations, to ensure compliance with relevant international guidelines and conventions.
According to Dr. Jamoh, “As we celebrate today, it is important to put in perspective the plight of dockworkers who spend the greater part of their working life at the ports, with little or nothing to show for it. As employers of labour, you must endeavour to put in place a Contributory Pension Scheme for dockworkers and ensure prompt remittances of both Employers and Employees contributions at the end of each month.”
Speaking on compliance with stevedore inspections, he stated, “This occasion presents me with an opportunity to express the need for operators in the private jetties and Oil & Gas Terminals to grant operational access to the Stevedoring Contractors appointed by the Honorable Minister of Transport, to carry out stevedoring activities in assigned operational areas.”
On his part, the President General of the Maritime Workers Union of Nigeria (MWUN), Comrade Adewale Adeyanju, in his address, thanked the NIMASA Management for organising the event to celebrate Nigerian dockworkers in recognition of the important role played by them.
In attendance at the event were representatives from the Federal Ministry of Labour and Productivity; Nigerian Ports Authority; Seaport Terminal Operators Association and the National Association of Stevedoring Operators (NASA).
Internationally, July 7th is marked as ‘The Global Day of Action’ and is organized by the International Dockworkers’ Council (IDC) and International Transport Workers’ Federation (ITF). It aims to raise awareness of port working conditions and emphasize the importance of collective bargaining rights.
Business
LCCI tasks govt on transparent FX regime, multinationals’ engagement


The Lagos Chamber of Commerce and Industry (LCCI) has implored the government to create a more flexible and transparent foreign exchange policy to address scarcity issues.
Its Director-General, Dr Chinyere Almona, gave the advice on Thursday in Lagos, in reaction to the recent announcement of Procter & Gamble to transition its Nigerian operations to an import-only model.
Recall that the Chief Financial Officer of Procter & Gamble, Andre Schulten, had said this move would effectively dissolve its on-ground presence in the country.
Almona noted that over the last few months, there had been a consistent increase in exit plans or a reduction in involvement in the Nigerian market by multinationals, saying the trend was worrisome.
She stated that the country’s lingering foreign exchange scarcity, poor power supply, port congestion, multiple taxation, insecurity, and poor infrastructure, among others, had taken a toll on many businesses in the country.
She recommended that the government should implement measures to stabilise and ensure the availability of foreign exchange for businesses, particularly those operating in dollar-denominated environments.
“Further, the chamber urges the government to engage multinational corporations and the business community to understand their challenges and gather input and feedback on policy decisions to collaboratively develop solutions that would forestall the exodus of businesses from Nigeria.
”The Central Bank of Nigeria (CBN) should prioritise the stability of the country’s currency and adopt the right policy mix to ensure price stability,” she said.
Business
Tinubu appoints Omatsola Ogbe as new ES of NCDMB


President Bola Tinubu has approved the appointment of Engr. Felix Omatsola Ogbe as Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB).
The President in a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale appointed new board members for the NCDMB.
According to the Spokesperson to the President, the President in conformity with Sections 71(1), 72, and 73 of the Nigerian Oil and Gas Industry Content Development Act (2010) approved the appointment of qualified Nigerians to serve on the Governing Council and Management team of the Nigerian Content Development and Monitoring Board (NCDMB).
The newly appointed board members include:Sen. Heineken Lokpobiri — Chairman / HMS, Petroleum Resources, Engr. Felix Omatsola Ogbe — Executive Secretary, Oritsemyiwa Eyesan — Member / EVP Upstream, NNPC Ltd, Gbenga Komolafe — Member / CEO, NUPRC, Bekearedebo Augusta Warrens — Member, Nicolas Odinuwe — Member, Rapheal Samuel — Member, Sadiq Abubakar — Member, Olorundare Sunday Thomas — Member.
Ajuri noted that the President expects the new appointees to discharge their duties with his patriotic resolve to significantly enhance indigenous industry participation in the energy sector as part of the Renewed Hope Agenda’s mandate to achieve the goal of 70 percent indigenous content and participation in the nation’s energy industry during the lifespan of this administration.
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