It’s plausible that improved digital literacy could lead to increased smartphone utilization, as people with better digital skills are more likely to take advantage of smartphone features and services.
However, the actual impact may vary depending on other factors such as affordability, access to technology, and individual preferences.
It would be interesting to see the CEO of Ericsson’s full statement and the context in which it was made to better understand their perspective.
The Ministry of Communications, Innovation, and Digital Economy has expressed its intent to collaborate with the Nigerian Exchange Limited to stimulate the listing of startups on the newly-established NGX Technology Board.
In an official statement released by NGX on a Friday, Minister Bosun Tijani, responsible for Communications, Innovation, and Digital Economy, made this announcement during a tech event in New York titled “Invest in Africa’s Future – Let’s talk about exits.” This event was a collaborative initiative between the Ministry, NGX, and Future Africa.
Tijani emphasized Nigeria’s need to reduce its dependence on oil and diversify into other sectors through technological innovation and increased productivity.
He outlined several key objectives, including creating a conducive regulatory environment for fintechs, facilitating access to funding from angel investors, enhancing digital infrastructure, promoting the export of tech products and services, and partnering with NGX to offer tailored listing options for startups through its Technology Board.
The Minister emphasized, “We must prioritize innovation and encourage entrepreneurs to build for us to achieve these goals as a nation.
Nigeria is now open to investments, and we aim to empower our technology companies to export their products, starting with Africa and eventually expanding to the global market.”
Simultaneously, Temi Popoola, the Chief Executive Officer of NGX, affirmed the exchange’s commitment to supporting the Minister’s agenda and President Bola Tinubu’s mandate.
Popoola recognized technology as a significant catalyst for the capital market and expressed NGX’s eagerness to foster innovation in order to attract a broader spectrum of investors and established tech companies to list on its platform.
Popoola also addressed the challenges related to listings, acknowledging that the demand for private capital currently surpasses that of public capital.
He disclosed that NGX is engaging in discussions with the Securities and Exchange Commission to enable the exchange to work with non-listed companies, including startups.
In conclusion, Popoola assured that NGX is actively working to remove barriers to attract local capital, expressing confidence that when tech startups join the exchange, there will be a substantial audience of investors eager to acquire shares in these companies.
This reflects NGX’s dedication to facilitating such opportunities for growth and investment.
The most recent data, as unveiled by the Nigeria Extractive Industries Transparency Initiative (NEITI), a Federal Government agency, reveals that Nigeria incurred a staggering loss of approximately N1.96 trillion in 2021 due to oil theft, acts of sabotage, and adjustments in crude oil production.
In its freshly published 2021 Oil and Gas Sector Report, NEITI disclosed that the nation witnessed the disappearance of 68.47 million barrels of crude oil during the reviewed year.
Within the report’s section on crude oil production and exports, NEITI elucidated, “The total volumes of oil and gas production for 2021 were derived from the NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) sign-off documents.”
These documents bear the signatures of production companies, NMDPRA, and NNPC (Nigerian National Petroleum Company Limited), signifying the annual reconciliation of production figures.
Furthermore, the figures underwent reconciliation with the involved companies during the audit process.
In 2021, 54 companies engaged in crude oil production, contributing to an overall metered production of 634.60 million barrels.
Nonetheless, a distressing 68.47 million barrels vanished due to production adjustments, measurement errors, and theft or sabotage, resulting in a remaining fiscalized production figure of 566.13 million barrels for 2021.
NEITI underscored that this fiscalized production encompasses both crude oil and condensates.
Notably, this reconciled production data diverged from publicly disclosed information on the NUPRC (Nigeria Upstream Petroleum Regulatory Commission) website.
Additionally, the agency noted, “The total fiscalized crude oil production for 2021 was 566.13 million barrels.
This represents a 12 percent reduction from the 2020 production volume, which stood at 646.79 million barrels.”
Statistics from Statistica, an international statistical firm, illustrate that the average cost of crude oil in 2021 was $70.86 per barrel.
Concurrently, data from Exchange Rates UK, a global rates monitoring firm, reports that the average exchange rate between the dollar and the local currency in 2021 was N403.58 per dollar.
When we consider the loss of 68.47 million barrels in 2021, it becomes evident that Nigeria suffered a substantial financial setback, amounting to approximately $4.85 billion for that year.
When multiplied by the average exchange rate of N403.58 per dollar, this translates to a staggering N1.96 trillion in losses, underscoring the significant impact of oil theft and associated challenges in 2021.
Clement Isong, the Executive Secretary of the Major Oil Marketers Association of Nigeria, emphasized the urgency for the Federal Government to take decisive action to combat crude oil theft.
He stressed that this issue not only hampers Nigeria’s ability to meet its production quotas as sanctioned by the Organisation of Petroleum Exporting Countries (OPEC) but also deprives the country of much-needed foreign currency essential for importing goods.
Isong elaborated on the liquidity challenges in the I&E (Importers and Exporters) window, which significantly affects the ability to purchase products, such as petrol.
To procure these products, it necessitates a substantial amount, ranging from $25 million to $30 million, an amount that is often scarce in the I&E window.
This scarcity has repercussions on imports and economic operations.
On Friday, the World Bank distributed 11 Toyota Hilux vehicles to various ministries, departments, and agencies of the Federal Government.
These vehicles are intended for the monitoring of environmental degradation and restoration projects.
The allocation of these vehicles was made possible through the World Bank’s $700 million Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL. The Federal Government serves as the guarantor for this project.
Ibrahim Idris, the Permanent Secretary of the Federal Ministry of Environment, personally handed over the keys and documentation for the vehicles to the beneficiary MDAs in Abuja.
He emphasized that this initiative is aimed at ensuring effective monitoring of the bank’s investments in environmental projects.
Idris explained, “We are dealing with issues like desertification and erosion caused by climate change, specifically focusing on desertification within 19 states and the Federal Capital Territory.
Due to the vast land area involved, having these vehicles is crucial for on-site inspections and supervision of projects. By providing these 11 vehicles, our goal is to guarantee proper oversight and monitoring of these projects.”
The beneficiaries of these vehicles include various ministries and agencies such as water resources, remote sensing, agriculture, and various departments within the Ministry of Environment.
These vehicles are essential for all the stakeholder agencies involved in the ACReSAL project.
Abdulhamid Umar, the National Project Coordinator for ACReSAL, provided insights into the project’s scope and goals.
He mentioned that the project has a duration of six years with the objective of restoring approximately one million landscapes.
Umar elaborated, “ACReSAL, funded by the World Bank with a portfolio of $700 million, aims to address landscape restoration and degradation issues caused by desertification and deforestation resulting from climate change.
The project has been in progress for a year and has already made significant strides in restoring over 2,000 degraded landscapes with more than 1,900 beneficiaries.
Our expectation is to achieve more than 60 percent of our land restoration goals by the mid-year review.”
Regarding the role of the World Bank, Umar clarified, “The World Bank is the primary investor, providing a loan that will be repaid.
The Federal Government serves as the principal guarantor of the funds, which are accessible to 19 Northern states and the FCT.
The primary purpose of this funding is to address challenges arising from climate change and to recover one million landscapes by the project’s conclusion.”
He also noted that ACReSAL has a presence in over 12 states, with plans to expand further to ensure efficient project delivery.
The project is particularly focusing on states like Yobe, Jigawa, Kano, Katsina, and Sokoto, where the Sahara Desert is encroaching on landscapes. Additionally, landscape issues in states like Gombe and Plateau are also being actively addressed.
The Yoruba Council of Elders has urgently called upon the Federal Government to establish a conducive environment for the repatriation of individuals who were forced into exile during past oppressive regimes.
Among those in exile are prominent figures such as Professor Banji Akintoye and Chief Sunday Igboho, who faced harassment while advocating for the fair and dignified treatment of their law-abiding kinsmen.
In a statement issued by the YCE Secretary, Elder Oladipo Oyewole, and Publicity Secretary, Elder Niyi Ajibulu, following their meeting in Ado Ekiti, they expressed concern about the declining acceptance of Yoruba language, culture, and civilization.
Additionally, they discussed the presentation of the book titled ‘Yoruba Renaissance, Challenges and Prospects,’ authored by renowned educationist Sir Egunjobi.
The book sheds light on Yoruba history and contemporary issues, addressing both recurring challenges and emerging prospects for the Yoruba community.
The Yoruba elders urged the Federal Government to reassert its commitment to providing equal protection to all citizens and constituent groups within the country.
They also criticized former President Chief Olusegun Obasanjo for his recent actions against traditional rulers in Oyo State and called for his apology and restitution.
Furthermore, the elders announced plans to present the book to the governors of Yoruba states in recognition of their roles as the chief executive officers of their respective states.
‘Yoruba Renaissance, Challenges and Prospects’ is a comprehensive compilation of efforts aimed at securing the Yoruba community’s prominent position within the Nigerian framework, covering various aspects of historical, social, economic, and political activities.
A Canadian-based event organizer, Prince George, has revealed that the popular singer Ilerioluwa Aloba, better known as Mohbad, tragically passed away on the very day his Canadian visa got approved.
George made this poignant revelation during a candlelight gathering organized by the Nigerian community in Toronto, Canada, on Saturday evening.
He shared, “My intention was to surprise Mohbad’s close friend, Bella Shmurda, at his upcoming show in Canada by bringing Mohbad along.
I had messaged Mohbad’s manager on the morning his visa was approved, only to receive the shocking news that Mohbad had inexplicably passed away.”
At the event, a visibly devastated Bella Shmurda struggled to find words to address the audience, expressing his profound shock and grief over the loss of his dear friend.
Bella Shmurda said, “This person was like a brother to me, my buddy, my closest friend, you know? It’s incredibly saddening.
I had seen him just before leaving Nigeria, and then, two or three days later, I received the devastating news of his passing.
It all felt surreal, even my mom had to call me and advise me not to return home.
The Africa Film Academy, which organizes the Africa Movie Academy Awards, revealed the nominees for the 19th edition of the prestigious continental awards ceremony on September 21, 2023.
Two popular Nigerian films, ‘Mami Water’ and ‘Anikulapo’, garnered significant attention among the nominees.
During the nomination announcement event, hosted by veteran actor and singer Segun Arinze, a moment of silence was observed in memory of the late founder and Chief Executive Officer of AFA and AMAA, Peace Anyiam-Osigwe.
Raymond Anyiam-Osigwe, representing the board, and Steve Ayorinde, representing the AMAA jury, also outlined the activities for the 2023 edition of this respected film and movie awards ceremony.
The awards ceremony, themed ‘The Renaissance,’ is scheduled to take place on Sunday, October 29, 2023, at The Balmoral event center, situated within Sheraton Hotels in Ikeja, Lagos.
Steve Ayorinde, on behalf of the AMAA jury, disclosed the nominees across 26 categories, emphasizing the rigorous and meticulous process the jury undertook to select the nominees.
Among the multiple nominations, ‘Mami Water’ secured recognition in categories such as ‘Best Achievement in Costume Design,’ ‘Best Achievement in Make-Up,’ ‘Best Achievement in Visual Effects,’ ‘Best Achievement in Sound,’ ‘Best Achievement in Cinematography,’ ‘Best Achievement in Editing,’ ‘Best Achievement in Screenplay,’ and ‘Best Nigerian Film.’ ‘Anikulapo’ earned nominations in categories including ‘Best Film in an African Language,’ ‘Best Achievement in Production Design,’ ‘Best Achievement in Costume Design’ (Toyin Ogundeji), ‘Best Achievement in Make-Up’ (Hakeem Effect), and ‘Best Nigerian Film.’
Other Nigerian films, such as ‘Four Four Forty-Four,’ ‘Brotherhood,’ and ‘The Trade,’ also received multiple nominations.
In the ‘Best Actor in a Leading Role’ category, notable nominees included Richard Mofe Damijo (4-4-44 Four Four Forty-Four– Nigeria), Marc Zinga (Omen – DRC), Fenando Kamugisha (The Fallen Advocate – Uganda), Tobi Bakre (Brotherhood – Nigeria), Justine Murichii (Shimoni – Kenya), and Mike Danon (Sira— Burkina Faso).
In the ‘Best Actress in a Leading Role’ category, outstanding nominees included Lucie Debay (Omen – DRC), Ehle Mbali Mlotshwa (Four Walls – South Africa), Nafissatou Cissé (Sira – Burkina Faso), Adesua Etomi (Gangs of Lagos – Nigeria), Nse Ikpe Etim (4-4-44 Four Four Forty-Four— Nigeria), Bimbo Ademoye (Anikulapo – Nigeria), and Ama Qamata (Fight Like a Girl – DRC).
The ‘Best Actor in a Supporting Role’ category featured nominees Francis Onwochei (The Trade – Nigeria), Jeff Jackson (Four Walls – South Africa), Hakeem Kae-Kazim (Fight Like a Girl – DRC), and Jimmy-Jean Louis (Rise).
Finally, the ‘Best Actress in a Supporting Role’ category included Uzoamaka Aniunoh (Mami Wata – Nigeria), Rokhaya Niang (Xalé – Senegal), and Clarck Natmbwe (Fight Like a Girl – DRC).
The mother of the late singer, Ilerioluwa Aloba, known as MohBad, revealed in an interview with TVC News that he had promised to provide her with N5 million to support her business on the day he tragically passed away.
She also shared that MohBad had taken her out of her previous living situation to a new home in Ikorodu, where he planned to visit regularly.
Additionally, he had rented three shops for her, though she had not yet moved in.
MohBad had generously given her money to purchase two large freezers and a generator.
On the day of his passing, he had pledged to send her N5 million to stock up her shop with goods.
She expressed her concerns about his fear-filled life, sharing that he often lived in apprehension and faced ongoing challenges.
Mrs. Promise Aloba, the mother of the late Nigerian singer, Ilerioluwa Aloba, widely known as Mohbad, has revealed that her late son had a deep fear of her being abducted.
This fear ultimately led him to dissuade her from residing in the Ikorodu area of Lagos State, where he had rented an apartment and intended to establish a business for her.
Describing her final moments with Mohbad, Mrs. Aloba shared how her son and his wife had persuaded her to stay with them due to the emotional distress he was enduring.
Mohbad tragically passed away approximately two weeks ago, sparking controversy surrounding the circumstances of his death.
This controversy prompted authorities to exhume Mohbad’s remains.
Addressing a group of journalists at the singer’s residence, Mrs. Aloba expressed, “I don’t openly reveal that I’m Mohbad’s mother because he was genuinely concerned that I might be targeted for kidnapping.
He relocated me from Iyana to Ikorodu and had plans to establish a business for me there.
However, I can no longer stay in Ikorodu; I requested that they rent out the shop because I am filled with fear.”
She continued, “My child never truly enjoyed himself; he lived in constant fear whenever I visited, struggling to sleep and often experiencing anxiety.
They frequently had to report to the police about our safety concerns.
I spent ten days at his residence without any inkling that he would pass away.
I left on a Saturday, completely unaware of his impending demise on Monday.
He begged me not to go, but I convinced him to attend church.
Both he and his wife tried to persuade me to stay, and he withheld my financial support because he wanted me close.
Pandemonium erupted on Saturday immediately following the commencement of the opening ceremony for the 7th National Youth Games (NYG) in Asaba, the capital of Delta State.
This chaotic situation was triggered by the sudden collapse of a gate leading to the main bowl of the Stephen Keshi Stadium in Asaba, with a middle-aged woman reported as one of the athletes being affected.
The injured individual, according to information gathered by SaharaReporters, was swiftly transported in an ambulance to a medical facility whose location within the capital remains undisclosed.
Eyewitnesses noted that the victim’s condition was beyond the capacity of the medical staff stationed at the stadium for the ongoing National Youth Games.
Preceding the start of the National Youth Games in Asaba, Delta State, athletes from the state who were camped for the event protested against what they described as “inadequate food, water, electricity supply, and unsanitary living conditions” at their camp.
These young athletes, aged between 10 and 20, accused Tonobok Okowa, the chairman of the state Sports Commission, and officials of the commission of exploiting them for personal gain, neglecting their well-being, especially in terms of providing quality food, water, and electricity at their camp.
Additionally, the athletes leveled accusations against Tonobok Okowa, who is the younger brother of the former state governor Ifeanyi Okowa, and Festus Owhojero, the director of the Audit department, for awarding catering contracts within the athletes’ camps and supplying various consumable items to their sisters, wives, relatives, and girlfriends.
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