Wednesday, August 10, 2016
Video - Nigeria's currency traded at 350 to the dollar
The Naira lurched to an all-time low of 350 to the dollar in a single interbank market trade of 100,000 US dollars. A total of 3.1 million dollars had been traded by 1230 GMT. The currency has been in free fall since late June when the central bank decided to float it, ending a long untenable peg of 197 to the dollar.
Nigeria to offer free digital TV service
Nigeria will be the first African country to switch from analogue to free digital television – and it is looking to a small British company to roll it out.
Although several other African countries – including Rwanda and Tanzania – have migrated to digital and switched off their analogue signals, they work on a subscription model, so consumers have to pay.
The Nigerian government, though, is following the Freeview model pioneered in Britain, and is aiming to get 30 channels into 20m homes via subsidised digital set-top boxes that cost $7.50 (£5.70) each. Viewers will only have to pay for the boxes and a licence fee of $5 a year.
Because about 16 digital channels can fit in the space of an old analogue one, this will mean that a spectrum worth about $1bn is freed up. The government plans to sell it to mobile phone companies to feed Nigerians’ growing appetite for 3G and 4G.
The cost of subsidising the boxes and installing transmitters across the country is about $500m, which leaves another $500m profit. Nigeria needs this money to plug the holes in its budget caused by low oil prices and production, the latter caused by armed groups blowing up its pipelines.
“It’s a well-costed model, and the Nigerian government knows it works because they’ve already sold off some spectrum to MTN [a South Africa-based mobile telecoms firm] for $170m,” said Nick Markham, the chairman of Inview Technology, the British company launching FreeTV in Nigeria. “So basically there’s a payback, and this is what we’re telling all the different African governments.”
Inview is close to persuading Ghana, the Democratic Republic of the Congo and Ivory Coast to follow suit. There should be a domino effect, as digital signals in countries that make the switch interfere with their neighbours’ analogue signals.
The main competition, StarTimes, is Chinese, but it works differently. It offers African governments cheap loans in return for control of the television service under a pay-TV model.
FreeTV did its first launch in Jos, a city in central Nigeria, in May, and in November the analogue signal will be switched off.
There should be a knock-on effect on the local film industry – Markham estimated that Nollywood studios, which at the moment struggle with piracy, would get an extra $250m a year.
Some Nigerians have questioned whether the country will really be able to meet its target of switching off the analogue signal by next year, pointing out that the government has already missed targets in 2012 and 2015.
But others say it could be “the new telecoms” industry, as its 30m households means Nigeria is a bigger market than any of the countries that currently have free digital television. They welcome the potential jobs in manufacturing the boxes, advertising and TV production.
Although several other African countries – including Rwanda and Tanzania – have migrated to digital and switched off their analogue signals, they work on a subscription model, so consumers have to pay.
The Nigerian government, though, is following the Freeview model pioneered in Britain, and is aiming to get 30 channels into 20m homes via subsidised digital set-top boxes that cost $7.50 (£5.70) each. Viewers will only have to pay for the boxes and a licence fee of $5 a year.
Because about 16 digital channels can fit in the space of an old analogue one, this will mean that a spectrum worth about $1bn is freed up. The government plans to sell it to mobile phone companies to feed Nigerians’ growing appetite for 3G and 4G.
The cost of subsidising the boxes and installing transmitters across the country is about $500m, which leaves another $500m profit. Nigeria needs this money to plug the holes in its budget caused by low oil prices and production, the latter caused by armed groups blowing up its pipelines.
“It’s a well-costed model, and the Nigerian government knows it works because they’ve already sold off some spectrum to MTN [a South Africa-based mobile telecoms firm] for $170m,” said Nick Markham, the chairman of Inview Technology, the British company launching FreeTV in Nigeria. “So basically there’s a payback, and this is what we’re telling all the different African governments.”
Inview is close to persuading Ghana, the Democratic Republic of the Congo and Ivory Coast to follow suit. There should be a domino effect, as digital signals in countries that make the switch interfere with their neighbours’ analogue signals.
The main competition, StarTimes, is Chinese, but it works differently. It offers African governments cheap loans in return for control of the television service under a pay-TV model.
FreeTV did its first launch in Jos, a city in central Nigeria, in May, and in November the analogue signal will be switched off.
There should be a knock-on effect on the local film industry – Markham estimated that Nollywood studios, which at the moment struggle with piracy, would get an extra $250m a year.
Some Nigerians have questioned whether the country will really be able to meet its target of switching off the analogue signal by next year, pointing out that the government has already missed targets in 2012 and 2015.
But others say it could be “the new telecoms” industry, as its 30m households means Nigeria is a bigger market than any of the countries that currently have free digital television. They welcome the potential jobs in manufacturing the boxes, advertising and TV production.
Tuesday, August 9, 2016
Pele cancels trip to Nigeria
Pele had also withdrawn from the opening ceremony of the 2016 Rio Olympics citing health reasons.
In a statement, the three-time Fifa World Cup winner said: "I'm not physically able to attend the opening of the Olympics."
"Only God is more important than my health. In my life, I've had fractures, surgeries, pain, hospital stays, victories and defeats. And I've always respected those who admire me."
He said it was "my own decision, as a Brazilian. I ask God to bless all who participate in this event."
That statement has also had an effect on his appearance in Nigeria scheduled for this week.
Organisers of the trip, the Winihin Jemide Series and the Youth Experience Days Africa apologised for the inconvenience in a statement and revealed future dates will be announced as soon as Pele is fit to make the trip to Nigeria.
“The Winihin Jemide Series & Youth Experience Days Africa have both chosen to postpone the 2016 WJS/YEDA LEGEND EDITION with Pelé due to reports of his ill health on Friday 5th, 2016,” the statement read.
“We are sorry that we have to disappoint the many Pelé fans and Legend Edition supporters at this time, who were looking forward to this event. As we pray for his speedy and full recovery, we believe that it would be inconsiderate for us to put his health at risk.
“Our ticketing platforms will be offering a full refund on all tickets purchased and new dates for the event will be announced over the course of the next few weeks. We hope the new dates are suitable for everyone.
“The decision to postpone the event did not come easily and we want to express gratitude to sponsors and stakeholders.”
Pele, who recently got married to his long-time girlfriend has scored over 1000 goals in his playing career and won the World Cup with Brazil in 1954, 1962 and 1970.
Related story: Football Legend Pele set to visit Nigeria in August
Nigeria arrests popular blogger
Nigerians on Monday night resorted to using social media platform, Twitter, to call for the release of a ‘controversial’ blogger, Abubakar Sidiq Usman, who was arrested by the Economic and Financial Crimes Commission (EFCC) on charges of ‘cyber stalking.’
The anti-corruption watchdog issued a statement on Monday on its official Facebook page confirming the arrest of Usman following repeated calls for his release after news of his arrest went around.
‘‘The suspect who is the publisher of Abusidiqu.com was picked up at his Kubwa, Abuja home in the early hours of Monday August 8, 2016 by operatives of the EFCC and is currently being questioned over the alleged offence which contravenes sections of the Cyber Crime Act,’‘ the EFCC confirmed.
The hashtag #FreeAbuSidiq has been vibrant on Nigeria’s twitter space since his detention. With some questioning whether it was within the remit of the EFCC to deal with ‘cyber stalking.’
Tweets with the hashtag expressed worry at the seeming undertone of gagging the media. Others chose to look at the lighter side of the situation given that Usman is seen as a pro-Buhari advocate. The leading opposition People’s Democratic Party (PDP) also weighed in on the issue calling for his release.
Even though he had been granted administrative bail, some local media reported that he had failed to meet the conditions and was set to spend Monday night in custody of the EFCC.
The anti-corruption watchdog issued a statement on Monday on its official Facebook page confirming the arrest of Usman following repeated calls for his release after news of his arrest went around.
‘‘The suspect who is the publisher of Abusidiqu.com was picked up at his Kubwa, Abuja home in the early hours of Monday August 8, 2016 by operatives of the EFCC and is currently being questioned over the alleged offence which contravenes sections of the Cyber Crime Act,’‘ the EFCC confirmed.
The hashtag #FreeAbuSidiq has been vibrant on Nigeria’s twitter space since his detention. With some questioning whether it was within the remit of the EFCC to deal with ‘cyber stalking.’
Tweets with the hashtag expressed worry at the seeming undertone of gagging the media. Others chose to look at the lighter side of the situation given that Usman is seen as a pro-Buhari advocate. The leading opposition People’s Democratic Party (PDP) also weighed in on the issue calling for his release.
Even though he had been granted administrative bail, some local media reported that he had failed to meet the conditions and was set to spend Monday night in custody of the EFCC.
Subscribe to:
Posts (Atom)