The Central Bank of Nigeria (CBN) has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals.
According to a circular signed by the Director, Payments System Management Department, Chibuzo Efobi; and the Director, Financial Policy and Regulation Department, Haruna Mustafa; the cybersecurity would commence two weeks from May 6, 2024.
The apex bank, in the circular, directed to all commercial, merchant, non-interest, and payment service banks, among others; to start the implementation of the cybersecurity charges after two weeks of the information.
“The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, ‘Cybersecurity Levy,’” the circular partly read.
However, the CBN listed 16 banking transactions exempted from the new cybersecurity levy.
The exempted transactions are listed below:
1. Loan disbursements and repayments
2. Salary payments
3. Intra-account transfers within the same bank or between different banks for the same customer
4. Intra-bank transfers between customers of the same bank
5. Other Financial Institutions instructions to their correspondent banks
6. Interbank placements,
7. Banks’ transfers to CBN and vice-versa
8. Inter-branch transfers within a bank
9. Cheque clearing and settlements
10. Letters of Credits
11. Banks’ recapitalisation-related funding – only bulk funds movement from collection accounts
12. Savings and deposits, including transactions involving long-term investments such as Treasury Bills, Bonds, and Commercial Papers
13. Government Social Welfare Programmes transactions e.g. Pension payments
14. Non-profit and charitable transactions, including donations to registered non-profit organisations or charities
15. Educational institutions’ transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions
16. Transactions involving bank’s internal accounts such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts.
[Vanguard]
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to implement a 0.5 percent cybersecurity levy on electronic transfers.
This is contained in a circular signed by Chibuzor Efobi, director of payments system management and Haruna Mustafa, director of financial policy and regulation on Monday.
The directive was issued to commercial, merchant, non-interest and payment service banks, as well as mobile money operators.
CBN said the policy would take effect in two weeks and charges would be described as ‘Cybersecurity Levy’.
According to the apex bank, the deduction and collection of the cybersecurity levy is a sequel to the enactment of the Cybercrime (prohibition, prevention etc) Amendment Act of 2024.
“Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, “a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the second schedule of the Act, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA),” CBN said.
CBN said the charges would be remitted to the national cyber security fund, which would be administered by the office of the NSA.
“Deductions shall commence within two (2) weeks from the date of this circular for all financial institutions and the monthly remittance of the levies collected in bulk to the NCF account domiciled at the CBN by the 5th business day of every subsequent month.”
CBN said failure to remit the levy is an offence which attracts a fine of not less than 2 percent of the annual turnover of the defaulting business, amongst others.
“Finally, all institutions under the regulatory purview of the CBN are hereby directed to note and comply with the provisions of the Act and this circular.”
Meanwhile, earlier, banks announced the reintroduction of 2 percent charge on deposits above N500,000.
[TheCable]
The Federal Government is aware of false alarms being raised in some quarters alleging discussions between the Federal Government of Nigeria and some foreign countries on the siting of foreign military bases in the country.
We urge the general public to totally disregard this falsehood.
The Federal Government is not in any such discussion with any foreign country. We have neither received nor are we considering any proposals from any country on the establishment of any foreign military bases in Nigeria.
The Nigerian government already enjoys foreign cooperation in tackling ongoing security challenges, and the President remains committed to deepening these partnerships, with the goal of achieving the national security objectives of the Renewed Hope Agenda.
Mohammed Idris
Minister of Information and National Orientation
06 May 2024
Governor Nasir Idris of Kebbi State has raised the alarm that some influential figures within the state are allegedly working to undermine his administration’s objectives.
Speaking at the Uhola Festival and Agricultural Show in Zuru, Kebbi State, at the weekend, Governor Idris expressed his determination not to be swayed by their efforts.
The governor revealed how certain individuals from the state had reportedly intervened at the Federal Ministry of Works in Abuja to alter the road development plans he had previously submitted.
“It might interest you to know that someone went and changed the submission we already made on the Koko Dabai Road with that of Bui-Kangiwa-Kamba Road up to the border with Niger Republic at the Ministry of Works in Abuja.
“Whereas the KoKo-Dabai Road needs more urgent attention than the Bui-Kamba Road which is still motorable.
“I feel sad whenever I come to Zuru because all the three roads linking the town to other places are in bad shape,” he said.
The governor said he would gather prominent personalities from the Zuru Emirate including traditional rulers to meet President Bola Ahmed Tinubu in Abuja for a rapid solution to the disturbing issue.
Idris affirmed the commitment of his administration to support and finance the annual Uhola Festival, recognising its significance in promoting culture for economic growth and social cohesion.
[DailyTrust]
Abia State Governor, Alex Otti, has told the immediate past administration in the state, headed by Okezie Ikpeazu, to get ready to return looted funds, including money budgeted for the airport project.
Otti, who was reacting to the report of the forensic audit of the state’s accounts, said his administration is not fighting anybody but is only interested in recovering looted funds, in a bid to ensure good governance.
The governor spoke at Nvosi, during a solidarity visit by supporters and loyalists of the member representing Isiala Ngwa South State Constituency, Rowland Chinwendu.
He stressed that what he wants is the progress and development of Abia State, emphasizing that since the airport was not executed, the project money should be refunded.
Otti expressed dismay that some people are insulting him in the media because he disclosed the findings of the forensic audit report.
The governor described the solidarity visit by Chinwendu and his supporters as a good omen.
“I established a forensic audit of our accounts as soon as I was sworn in and the report turns out that a lot of money was looted, stolen brazenly and part of the ones I mentioned was the N10 billion Abia Airport Project.
“They started insulting me. If you follow what is happening in the media, you would know that what I said is true.
“We are looking for our money. If we are not able to find the airport, they would have to refund us our money.
“We are not pursuing anybody, they should refund the money they stole, let’s use it to work for our people.
“Our place must develop. We will continue to build roads, we will continue to clean up the environment, we will continue to create jobs.”
In his speech, the member representing Isiala Ngwa South State Constituency, Chinwendu, noted that his people sent him to the House to represent their interest.
He stressed that he cannot afford to be seen as opposition to the governor, who is from the same LGA.
The lawmaker thanked the governor for the ongoing reconstruction of Umuikaa-Umuene road, among other projects in his constituency.
[DailyPost]
The United Kingdom (UK) on Sunday said only international students coming in for their Doctor of Philosophy (PhD) studies are eligible to bring in dependents to the country.
Dr. Richard Montgomery, the British High Commissioner to Nigeria made this known in an interview with newsmen in Abuja.
He said that the educational system policy changed earlier this year for international students in higher education not to bring dependents into the UK was to curb the increase of foreign students bringing in dependents.
He explained that the huge surge in dependence was putting an unsustainable pressure on many universities, adding that it was the reason these changes were introduced.
Here are eight countries Nigerian Masters students can move to with their dependants
1. Canada
Canada aims to welcome over 460,000 new immigrants each year to strengthen the economy, reunite families, and help refugees.
Under its immigration levels plan, Canada is now looking to get 465,000 new permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025
The country’s dependent visa allows international students to bring their dependents and also allows them to work or study full-time once they have the relevant permits.
2. Germany
Germany’s dependent visa also known as a family reunion visa permits the spouse, children, and other family members to join and live with their family members residing in Germany. They can either reside temporarily or permanently in the country.
3. New Zealand
New Zealand also has a dependent child student visa that allows a dependent child to join their parents in the country and study at a primary or secondary school. “A dependent child can be treated as a domestic student, which means you don’t have to pay tuition fees for them to go to school.”
To apply for a Dependent Child Resident visa, your children must be single and financially dependent on you. Your children must sign a declaration they are single when they complete their application form. Immigration New Zealand considers your children dependent if they are: 17 or younger.
4. Australia
An Australia-dependent visa allows dependent family members of Australian citizens, Australian permanent residents, or eligible New Zealand citizens to live and work in Australia. This includes spouses, children, and other eligible family members.
5. Denmark
If an international student wants to bring their family to Denmark, they must apply for a green card Dependent visa. It allows Danish green card holder to bring their family with them to the nation while they are living and working there.
Denmark has several categories of dependent visas. Of these dependent visas, the Student Dependent Visa is designed for the spouse or unmarried children below 18 years of age of foreigners schooling in the country with a Denmark student visa to join their relatives in Denmark.
6. Finland
In September 2022, Finland issued more residence permits compared to the previous year as its processing time for visa application was 77 days on average, about 46 per cent less compared to 143 days in the previous period, the Finnish Immigration Service revealed.
The D visa allows you to travel to Finland immediately after being issued with a residence permit.
You can apply for a D visa if your spouse or your parent or guardian is applying for one of the following residence permits: A residence permit for a specialist. EU Blue Card.
7. Estonia
While staying in Estonia with a student visa, your family members can apply for an Estonia family visa to join you.
If they are issued a family visa, they can stay with you in Estonia for one year.
8. Sweden
Sweden is a Scandinavian nation in northern Europe with thousands of coastal islands and inland lakes, along with vast boreal forests and glaciated mountains.
The country which is highly developed, is ranked seventh in the Human Development Index, according to United Nations Development.
It has different types of permits that allow people to bring their dependents. The type of permit that should be applied for will vary depending on the situation of the person who is living in the country.
[TheNation]
The Federal Government has approved a downward review in electricity tariff for Band A customers to N206.80/kwh, from N225/kwh.
Ban A customers are electricity consumers with a minimum supply of 20 hours daily.
In a notice to its customers on Monday, Ikeja Electric, stated: “Please, be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24 hours supply daily.
“The tariff for Bands B, C, D, and E remains unchanged.”
Details on this coming.
Band A
recall that the Nigerian Electricity Regulatory Commission, NERC, had increased the tariff paid by Band A customers from N68/KWh to N225/kWh.
Band A customers are expected to receive between 20 and 24 hours of electricity supply daily. Those under B enjoy 16 to 20 hours of power supply and those in Band C receive 12 to 16 hours daily.
NERC also said that Band A customers make up just 15 percent of total electricity customers in the country.
Additionally, these customers would no longer enjoy government subsidy on electricity.
However, the review of electricity tariff generated reactions across the country.
For instance, human rights lawyer, Femi Falana (SAN), said the Federal Government was working in the interest of the International Monetary Fund, IMF, and the World Bank in hiking electricity tariff.
He said: “The Honourable Minister of Power is acting the script of the IMF and the World Bank.”
Also, the Nigerian Bar Association, NBA, Ikeja branch, gave the Federal Government and electricity distribution companies, DisCos, a seven-day ultimatum to reverse to the old electricity tariff or face a lawsuit.
Speaking, chairman of the branch, Mr Seyi Olawunmi, described the increase in the electricity tariff by almost 300 per cent as unreasonable and insensitive.
He said NERC order in respect to the tariff hike was not in line with the current economic realities of an average Nigerian.
Labour’s reaction to tariff
Also recall that the Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, appealed to NERC, and power sector operators, to reverse the increase in electricity tariff within one week.
President of the unions, Mr Joe Ajaero and Mr Fetus Osifo, respectively, made the call last Wednesday in a joint speech to mark the 2024 Workers’ Day in Abuja.
They expressed dissatisfaction over the epileptic power situation in the country. The labour leaders said it was affecting the economic growth of the country.
According to them, it is imperative that any nation incapable of effectively and efficiently managing its energy resources faces certain ruin.
In their words: “One of the pivotal factors constraining our nation is our glaring incompetence in managing this sector for the collective welfare of our citizens.
“Power, regardless of its source, remains paramount in kickstarting any economy, while oil and gas are indispensable for robust energy success in every country. “
They said it was absolutely critical for the government to collaborate with the people to establish frameworks that ensure energy works for all Nigerian.
According to the duo, the plight of the power sector remains unchanged over a decade after privatisation of the sector.
Ademola Adeleke, governor of Osun, has directed an immediate investigation into the alleged deportation of Osun youths from Lagos state.
On Saturday, there were reports that the Lagos government implemented the deportation of Osun indigenes from the state.
The reports claimed that police officers had picked up Osun indigenes from various parts of Ajah, TBS and Lagos Island.
In a statement issued on Monday by Olawale Rasheed, spokesperson to the governor, Adeleke expressed shock over the incident, adding that the state has set up an investigative team and was interfacing with the Lagos state government.
“The report was confirmed by an investigation team set up to confirm the veracity of the story by the Osun state government,” the statement reads.
“The state team reported that eyewitness accounts confirmed the dropping of the youths in several luxurious buses by a team suspected to be from Lagos State.
“The state’s report showed that the youths were systematically dropped at Ilesa-Akure express junction, Breweries; Ilesa – Ibodi – Iginla to Ife express junction, Osun Ankara express junction, Imelu express junction and Iperindo express junction.”
The governor said he has engaged Babajide Sanwo-Olu, governor of Lagos, who also expressed shock over the development and promised to take urgent action.
“I spoke with my brother, governor Sanwo-Olu on the matter. He too was surprised and he denied ever authorising any such action,” the governor said.
“Governor Sanwo-Olu has promised immediate investigation to unravel the facts of the situation. The Lagos team will update us as quickly as possible.
“I am subsequently directing our security agencies in Osun to mount surveillance in and around Ilesa to track the deported youths and their destinations.
“I will update our people on this development. I urge residents to be calm while the security agencies carry out surveillance.”
[TheCable]
The Nigerian Electricity Regulatory Commission (NERC) is set to boost electricity supply to domestic customers following its order, mandating a department within the Transmission Company of Nigeria, the System Operator (SO) to start capping power supply to international customers, which includes Benin Republic, Niger and Togo.
NERC’s order, published on Friday, May 3rd was dated April 29, 2024, and effective from May 1, 2024, was jointly signed by the commission’s Chairman, Sanusi Garba, and Vice Chairman, Musiliu Oseni.
The directive, outlined in a document titled ‘Interim Order on Transmission System Dispatch Operations, Cross-border Supply, and Related Matters,’ will be in effect for six months, subject to review.
The document stipulated that power delivery to Nigeria’s neighbours must not exceed six per cent of the total grid electricity at any given time.
The electricity sector regulator expressed concern about sub-optimal grid dispatch practices, which have impacted the ability of Distribution Companies, to meet their service tariff commitments to end-users.
“The reliance on limiting Discos’ load off-take while prioritising international off-takers and Eligible Customers has proven neither efficient nor equitable,” the document states.
Nigeria currently supplies electricity to neighbouring countries, including Benin Republic, Niger Republic, and Togo.
NERC emphasised that the current international and bilateral contracts with Generation Companies often fall short of industry standards.
It stated that many off-takers contracted bilaterally by Gencos exploit this prioritisation, exceeding their contracted levels during peak operations without penalties.
As an interim measure, NERC said the move is aimed at guiding the system operator and TCN in implementing Standard Operating Procedures to enhance transparency and fairness in grid operations.
The order also mandates the system operator to place interim caps on capacities supplied to international customers for the next six months, minimising the impact on domestic supply obligations by Gencos.
The document stated that the system operator must develop and present a pro-rata load-shedding scheme to ensure equitable load allocation to all off-takers (Discos, international customers, and eligible customers) during generation drops or grid imbalances.
“The system operator will log and publish hourly readings, enforcing penalties for violations of grid instructions and contracted nominations. Maximum load allocation to international off-takers in each trading hour shall not exceed six per cent of the total available grid generation.”
It added bilateral transactions between generators and off-takers require express approval from the commission.
The system operator and TCN must install integrated Internet of Things meters at off-take and delivery points to provide real-time visibility of aggregate offtake by grid customers.
Also, TCN announced the commencement of erecting two 132kV transmission towers at the Amukpe substation and restoration work on the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines from May 4 to 17, 2024. During this period, bulk power supply to Benin Disco through specific feeders will be temporarily interrupted.
Part of the document read, “The commission hereby orders as follows: The system operator shall develop and present to the commission for approval within seven days from the issuance of this order a pro-rata load-shedding scheme that ensures equitable adjustment to load allocation to all off-takers — Discos, international customers, and eligible customers — in the event of a drop in generation and other under-frequency related grid imbalances necessitating critical grid management.
“The system operator shall implement a framework to log and publish hourly readings and enforce necessary sanctions for violation of grid instructions and contracted nominations by off-takers in line with the grid code and market.
“The aggregate capacity that can be nominated by a generating plant to service international off-takers shall not be more than 10 per cent of its available generation capacity unless in exceptional circumstances a derogation is granted by the commission.“The system operator shall henceforth cease to recognise any capacity addition in bilateral transactions between a generator and an off-taker without the express approval of the commission,” it added.
It urged “the system operator and TCN to immediately initiate and install integrated Internet of Things (IoT) meters at all off-take and delivery points of eligible customers, bilateral supplies, cross-border trades, and outgoing 33kV feeders of the Discos to provide real-time visibility of aggregate offtake by grid customers.
“The installation of and streaming of data from the IOT meters should be completed within three months from the date of this order.”
Rt. Hon. Benjamin Kalu, the Deputy Speaker, House of Representatives, has said President Bola Tinubu should not be blamed for Nigeria’s current economic hardship.
Kalu stated this on Sunday while celebrating orphans, widows, people living with disabilities, and the aged at his Bende, Abia country home to mark his 53rd birthday.
According to him, Tinubu is working assiduously to fix Nigeria’s current economic ordeals which were occasioned by the errors of the previous administrations in the country.
“The hardship we are passing through was not caused by this man. It’s a piled-up case of previous administrations and how they mismanaged one or two things.
“We cannot continue to live in lies thinking that all is well. Tinubu wants to clean up the place so that we can have a sustainable livelihood. Let’s keep supporting and encouraging him,” he said.
He predicted a brighter future for the country after the current turbulence, urging Nigerians not to give up but to repose confidence in the current leadership of the country.
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Former governorship candidate of the Peoples Democratic Party, PDP, in Ogun State, Segun Sowunmi, has called for a complete overhaul of the party in order to stabilise it for future elections in the country.
The PDP chieftain disclosed this while speaking on the state of the PDP during a media briefing organised by the Ogun State Council of the Nigeria Union of Journalists, NUJ.
Sowunmi decried the party’s recent electoral losses in three consecutive Governorship elections in Ogun State.
The PDP stalwart, who advised on the urgent need for the party to restructure its internal working mechanism for optimal capacity and efficiency, also called for a revisit of its core values and ideology in order to restore its lost glory.
He also noted that the PDP is already working as a formidable opposition to the ruling All Progressives Congress, APC in providing credible alternative policy options to the present administration.
Sowunmi further expressed his intention to run for the National Chairmanship position of the party
DAILY POST recalls that with the suspension of the party’s former National Chairman, Iyorchia Ayu, the North-Central caucus has agitating for the constitutional right of the zone to complete its four-year tenure, which ends in October 2025.
The Federal Government has approved a downward review in electricity tariff for Band A customers(Those with a daily supply of minimum of 20 hours).
Under the approved review,Band A customers who hitherto were charged N225/Kwh are now to pay N206.80/Kwh.
The decision to crash the tariff may not be unconnected with public outcry over the increase in electricity which industry observers, CSOs, labour unions have described as insensitive.
Already, electricity distributors are sending the reduction notice to their customers.
In a notice to its customers on Monday, Ikeja Electric said “Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily.
”The tariff for Bands B, C, D, and E remains unchanged.”
•Undersea fibre cables linking Europe to Nigeria pass through construction corridor – ALTON, ATCON
Barely 48 hours after Multichoice alerted subscribers to a three-day technical downtime, telecommunication companies have expressed concern over possible connectivity disruptions as construction advances on the 700km Lagos-Calabar Coastal Highway.
While the DStv and GOtv owner acknowledged the anticipated impact of the ongoing Lagos-Calabar construction project on their uplink facilities, telcos on Sunday expressed broader concerns emphasising the vital role of telecommunication service and the effect of possible anticipated technical disruption.
The Lagos-Calabar coastal highway corridor serves as a crucial landing point for multiple submarine cables connecting Nigeria to Europe
The cables, including the West Africa Cable System (WACS), MainOne, Glo1, ACE, and NCSCS, are vital for international communications and data transmission in the country.
The Federal Executive Council approved Phase One of the ambitious 700-km Lagos-Calabar coastal highway project in February, entrusting the task to Hitech Construction Company Limited.
The highway project was designed to connect Lagos to Cross River, passing through the coastal states of Ogun, Ondo, Delta, Edo Bayelsa, Rivers, and Akwa Ibom, before culminating in Cross River.
Meanwhile, the demolition of numerous properties and recreational centres in Lagos has been carried out to expedite the construction of the highway.
In light of the developments, telcos stressed the necessity of stakeholder consultations with the Ministry of Works to address potential risks and implement robust mitigation measures.
While dialogue with the Federal Government is yet to happen, telcos have warned Hitech Construction to exercise caution to prevent damage to critical national infrastructure.
Speaking with The PUNCH on Sunday, the Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), Gbenga Adebayo, confirmed that the Ministry of Works had yet to engage the telcos on environmental impact assessment.
The ALTON chairman said the Ministry of Works, headed by David Umahi, had engaged some stakeholders but excluded the telecom operators.
“The Ministry of Works has not approached us, and I’m unsure if environmental impact assessments have been conducted. The route is crucial for the landing of numerous submarine cables, so caution is essential.
“Some members have reached out to them, urging caution. As the chairman of the industry, I can affirm that ALTON members were not consulted regarding the assessment of the undersea cable within that right of way,” he explained.
Adebayo revealed that some of its members had written to the works ministry on the matter over the need for a dialogue. He however said the body had yet to get any response.
He added that the Nigerian Communications Commission had been engaged to facilitate talks with the ministry.
“We’ve informed the Nigeria Communications Commission about this issue, and they are attempting to contact the Ministry of Works. However, I can confirm that neither we nor any of our members were contacted. This is on record. We were not included in the stakeholder consultations, and we’re concerned about the actions being taken.”
According to Adebayo, the Lagos-Calabar coastal highway corridor facilitates international traffic into the country, with so much risk involved if caution is not applied by the construction firm.
“There’s a significant risk involved, and I advise carefulness. Any destruction could lead to total disruption and severe economic consequences. Caution must be exercised to avoid damaging this critical economic infrastructure.”
In March, service disruption caused by cuts to the undersea cable supplying broadband Internet connectivity to Nigeria and countries in the West African sub-region forced many banks and other financial institutions, as well as telecom companies and allied firms, to scale down their operations.
Experts said the recent subsea cable cut, which disrupted connectivity in West Africa on March 14, 2024, could result in collective repair costs of about $8m for the four digital infrastructure companies affected.
The Chief Executive Officer of West Indian Ocean Cable Company, Chris Wood, said the four digital infrastructure companies affected could spend as much as $8m each to repair a single cable.
The affected cables include MainOne Cable, the West African Cable System, the African Coast to Europe submarine cable, and the SAT3 subsea cable systems.
Wood highlighted that each affected cable firm might need to allocate between $1m and $2m for the complete restoration of a single subsea cable, depending on the severity of the damage incurred.
The WIOCC CEO stated, “It is not a few $100,000. It is several millions of dollars, maybe $1m to $2m per cable, depending on how long it takes the ship to find the cable and repair it.
“Maybe slightly more than that. And those costs are borne by the cable owners themselves. It is a cost that we will factor into our businesses because these things do happen.
“I can’t say exact figures because it depends on the nature of the cuts and how long it takes to repair them, but when you look at the four systems together, it is several $1m.”
According to Wood, it will cost Africa $1bn to lay new cable that will connect from Europe, connecting multiple African countries, including Nigeria.
He noted that it would take at least 10 years to design the project and finish building, noting that the cost would be huge.
“So, it is not a simple thing to say, right? Let’s lay more cables because ultimately somebody has to pay that billion dollars, and eventually it is the end user. So, there has to be a commercial justification for spending that kind of money.
According to the President of the Association of Telecommunications Companies of Nigeria, Tony Emoekpere, the ongoing construction work is yet to get close to the areas where the undersea cables and fibre cables are located.
However, he said it was crucial to recognise that all submarine cables to Lagos are situated along that coastal line.
“Discussions will ensure that the ongoing construction won’t affect them, with plans in place to prevent any disruption. Nobody will allow anything to happen without precautions.
“I spoke with someone this week who mentioned this. Concerns will naturally arise, and ongoing interactions will address them as the risk is significant. These are sensitive issues, and measures will be taken to ensure services aren’t disrupted along that line,” he added.
A few weeks ago, ALTON and ATCON jointly issued a statement expressing worries over wilful vandalism and theft as well as other challenges affecting the growth of the sector.
They requested the protection of assets and network infrastructure and urged the federal government to pass legislation that designates telecommunications infrastructure as critical national infrastructure.
Telecommunications infrastructure undoubtedly plays a pivotal role in national security and socioeconomic growth, especially as the country currently contends with multiple security challenges that require urgent and immediate actions in response to these threats.
“Attacks on cell towers, fibre optic cables, and other critical assets disrupt telecommunications services and result in significant financial losses for operators,” telcos lamented.
The telecom sector has been grappling with economic challenges that have significantly increased their operating costs, a situation that has dwindled appetite for investments.
Investment in the sector decreased by 70.5 per cent to $134m in 2023 from $456.8m in the corresponding year, according to the National Bureau of Statistics.
Last week, the ALTON chairman mentioned that telcos were becoming reluctant to invest more in infrastructure as they continued to contend with a tough economic environment.
Adebayo stated, “If you don’t invest in a sector, you can’t talk about quality of service; you can’t talk about right pricing. The government must help, and the time is now.”
He drew a comparison with the energy sector, where a lack of investment in infrastructure had led to decrepit substations and outdated transformers, some of which are 25–30 years old.
“When the people in the energy sector came, they licenced the DisCos; they sold them those companies and all of that, and everybody thought that would solve the problem. The answer is ‘no’ because when the DisCos came, they didn’t invest in infrastructure.
“We don’t want to come to a time where the telecom sector becomes like that. We need to continue to put the right policies and regulations in place to attract investment. It is only when we attract investment that we can demand a minimum level of performance,” he emphasised.
No fewer than 13 lives, 130 vehicles and an unspecified number of houses have been destroyed in separate gas tanker explosions that occurred in Rivers, Osun and Delta States in the last seven days.
DAILY POST reports that tanker explosions have been consistent in the country, leading to loss of several lives and properties.
The recent occurrences have raised concerns amongst stakeholders who are calling for a better method of transporting all petroleum products across the country.
Recall that on Friday last week, April 27, a tanker conveying Premium Motor Spirit, PMS, otherwise known as petrol, burnt motorists and commuters beyond recognition and destroyed at least 120 vehicles in Rivers State.
Five unlucky persons, including a pregnant woman, were killed in the unfortunate incident.
The incident occurred between the Indorama Petro-Chemical Company Gate and the Aleto Bridge on the popular and ever busy Eleme section of the East-West Road now undergoing major reconstruction by the Federal Government.
Barely 12 hours after the Rivers incident, a gas tanker exploded in Ita-Osin, Abeokuta, Ogun State on Saturday, April 29, killing one person, while about five others were seriously injured.
The incident which also left five vehicles burnt, occurred following a suspected brake failure, after which the tanker rammed into the road culvert and went up in flames.
According to the spokesperson of the Ogun State Sector Command of the Federal Road Safety Corps, Florence Okpe, the deceased was suspected to be the motorboy of the gas-laden tanker.
On Friday, May 4, about eight persons were killed in a petroleum tanker explosion at Ometan-Okpe community along the Effurun-Sapele Road in Okpe local government area of Delta State.
DAILY POST gathered that a breastfeeding mother and her three-month-old baby were among the casualties.
It was learnt that the breastfeeding mother was burnt to death while trying to rescue her baby who was trapped in the inferno.
Sources at the incident also disclosed that a 16-year-old secondary school girl and her mother who were trapped in their apartment also died in the fire incident.
DAILY POST gathered that the incident occurred on Friday when the ill-fated tanker coming from Effurun reportedly lost control while overtaking another truck a few metres away from the boundary bridge between Uvwie and Okpe Local Government Area.
According to eyewitnesses, the front part of the oil tanker suddenly detached from the rear compartment while on motion, leading to an explosion.
All buildings within the accident scene were razed. Some residents who were trapped in the building were also burnt to death.
Speaking with DAILY POST on Saturday, the Delta State Police Public Relations Officer, Edafe Bright confirmed that about eight bodies were recovered from the incident scene.
He said, “The head of the tanker pulled off from the body of the truck, the vehicle fell and went up in flames, leading to the major accident that claimed those lives.
“About seven houses, five shops, including POS shops, were burnt down.
“Four vehicles, including car, truck were all destroyed by the inferno.”
Governors, FG move to end incessant gas explosions
The 36 governors under the aegis of Nigerian Governors Forum on April 28 said discussions were advancing among them and strategic federal agencies in the oil and gas industry in a bid to adopt safer methods of transportation of petroleum products across the country.
The forum’s Chairman, AbdulRahman AbdulRazaq gave the hint at the Rivers State Government House, Port Harcourt, when he visited to commiserate with Governor Siminalayi Fubara, over the incident.
AbdulRazaq said, “We also spoke with the Head of the Downstream Petroleum Regulatory Agency, and there will be a review of some laws.
“There will also be engagement between the Downstream Petroleum Regulatory Agency and state agencies in terms of ensuring health and safety on these issues.
“As you know, Nigeria relies a lot, virtually, on pipelines for the movement of petroleum products, and we need to strengthen regulations in that sector, and also emphasise on improving and expanding pipelines for the transportation of products as well.”
Similarly, the Federal Government vowed to stop granting licences to gas companies with no capacity to build pipelines for gas distribution.
This was communicated by the Minister of State for Petroleum Resources, Gas, Ekperikpe Ekpo, when he visited Abeokuta for an on-the-spot assessment of the explosion at Ita Oshin.
According to the Minister, the development became imperative to discourage the transportation of compressed natural gas through the roads.
“I have directed the authority chief executive that for any further issuance of licence, the company should be competent enough to pipe it to their end users so that we are not exposed to this kind of danger any longer.
“As a ministry, we are looking at how we can reduce a lot of virtual conveyance of gas.
“That is why we are putting much in developing the gas pipeline infrastructure so that the transportation would not be virtual, but rather through the pipelines. This will reduce this kind of incident and take off the pressure on our roads”, he said.
Meanwhile a retired officer of the Federal Road Safety Corps, FRSC, Danjuma Alkali told DAILY POST on Saturday that the best way to stop the ugly occurrence was to ban night travels.
According to him, most of the incidents occurred due to “inability of drivers to have enough rest at night”, stressing “the incidents either happened in the night or when the drivers were totally exhausted”.
According to him, if there was a piece of legislation declaring an outright ban on night travels, the FRSC would be in a position to curb vehicles, whether big or small, travelling at night.
“Even before the recent incidents, statistics had shown that most of the crashes happen at night.
“For instance, a driver will want to go to Lagos and he takes off from Ilorin or Lokoja by 5pm; does a person get to Lagos before it becomes very late?
“If the federal lawmakers can come up with a piece of legislation to ban night travel, that will assist both the law enforcement agencies and other citizens.
“Banning night travels will put an end to some of these issues we face as a country, including insecurity.
“The federal government, in its wisdom, created tanker parks all over the country so that when it is night, the drivers can pack and rest until the following day, yet, most of them still prefer travelling at night.
“Nigeria should discourage night journeys because when articulated vehicles, especially fuel tankers, break down at night, drivers of such vehicles tend to abandon them on the road without any sign of caution and this has caused several incidents,” he stated.