Connect with us

Business

Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

Published

on

Photo source: Google

The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

Advertisement

Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.


 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Hamster Kombat Unveils Anti-Cheating Plan

Published

on


Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.


 

Continue Reading

Business

Binance Launches ‘Moonbix’ on Telegram

Published

on


Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.


 

Continue Reading

Business

Shehu Sani Compares NNPC and Dangote Refinery to ‘Cain and Cain’ Over Fuel Prices

Published

on

Photo source: Google

Amid ongoing debates over the pricing template for petrol, former senator Shehu Sani has drawn an intriguing comparison between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).

Sani remarked that many Nigerians initially saw the relationship between the two as reminiscent of the biblical brothers Cain and Abel, where one would represent good and the other, evil.

However, he suggested that the reality has proven otherwise, with both entities resembling “Cain.”

Taking to social media platform X, Sani posted, “Most people thought that Dangote and NNPC are like Cain and Abel.

Now they found out that they are Cain Junior and Cain Senior,” implying that neither company is living up to the positive expectations of Nigerians.

Advertisement

This reaction comes in the wake of the NNPC’s recent release of estimated petrol prices for September 2024.

According to the state-run oil company, it is purchasing petrol from Dangote Refinery in U.S. dollars, which has significantly influenced the retail price of Premium Motor Spirit (PMS) across Nigeria.

The NNPC stated that the petrol purchased from the Dangote Refinery gantry was bought at N898.78 per litre.

With logistics costs factored in, the price of petrol in Lagos will reach an estimated N950.22 per litre.

In cities such as Abuja, Sokoto, and Kano, prices are expected to be around N999.22 per litre.

Advertisement

Other regions are also grappling with high pump prices. In states like Rivers, Akwa Ibom, Bayelsa, and Imo, fuel is estimated to be sold at N980 per litre.

The highest recorded price is in Borno State, where the cost of petrol is expected to soar to N1,019.22 per litre.

The rising cost of petrol has sparked widespread frustration among Nigerians, who had hoped that the opening of the Dangote Refinery would help stabilize prices.

Many had anticipated that Dangote and NNPCL would work together to alleviate the economic burden on citizens, but the continued rise in fuel prices has led to disillusionment.


 

Advertisement
Continue Reading

Trending