THE GUARDIAN www.ngrguardiannews.com
22 Monday, June 2, 2014
FINANCIALGUARDIAN
Etisalat claims $1b investments in Nigeria, 3.7m subscribers post MNP By Adeyemi Adepetun IVE and a half years into its operations in Nigeria, Emerging Market Telecommunications LimitedEtisalat, has invested about $1 billion in the nation’s economy.
F
These investments, according to the telecommunications firm, have gone into network upgrades,infrastructure roll outs, capacity building, among others. Speaking at the launch of a new campaign programme
on Mobile Number Portability (MNP) in Lagos, last week, Acting Chief Executive Officer, Etisalat Nigeria, Matthew Willsher said the telecommunications firm currently has over 19 million subscribers with the hope to double it
soonest. Wilsher said the firm is keen on improving on the current quality of the network. The Acting CEO said: “Etisalat is new in Nigeria, just five and half years with about $1 billion investments and more com-
Bank recovers N10.5b loans, hands over 65 buses to beneficiaries CONTINUED FROM PAGE 21 expects beneficiaries under the Scheme Two to pay on time because of the zero interest rate. The bank chief said that the buses were to be fully paid for in order to sustain the scheme, which he described as “laudable and people-oriented”. Oyinloye stressed that it was only through prompt re-payment that more Nigerian road transporters could benefit, warning that the bank would not tolerate any default by beneficiaries. He said that under the Scheme Two, every beneficiary had to collaterise their loans to ensure recovery of the facilities. “There is a risk management framework around the scheme, so every beneficiary has to collaterise what he has taken one way or another. “If we morally persuade them and it does not work on time,
we will consider the next step to get our money back because the money belongs to the Federal Government of Nigeria. “It is meant for the masses because for other beneficiaries to benefit, previous beneficiaries must pay back,” Oyinloye said. He that the aim of PMTF was to enhance national transport services through the Federal Government resources under the SURE-P. “I can tell you that from the offices of LAMATA, Transport Ministry to LAGBUS, everybody is indeed happy with the presence of our buses on the streets. “I want the public to know that this is not the first time Lagos is benefiting from the scheme. Since 2010 when the first scheme started, a lot of our buses ply Lagos roads. Oyinloye said that under the SURE –P initiative in 2012, a bulk of the 680 buses came to Lagos through a partnership with Lagos Ministry of
Transport. He also said that each of the buses would provide employment to at least four people through shift operations. The SURE-P Convener for Mass Transit Sub-Committee, Dr. Fatima Adamu, said that the buses were brought to Lagos because of the significance of Lagos to the nation’s economy. Adamu said that the success level of the scheme in Lagos would provide sustainable framework for its implementation across the country. She also said that in addition
to the activities of PMTF, SUREP was deploying efforts in road development and maintainace in Lagos. “Of course, the whole SURE-P is not about bus projects, but other things are in the offering for Lagos. “Every Nigerian is expected to benefit from SURE-P, irrespective of the politically affiliation because the SURE-P money belongs to Nigerians,” she said. Adamu said that under SUREP initiative, government had earmarked N15 billion for mass transit programme.
ing. We have over 19 million subscribers.” Willsher, who said the telecommunications firm is on the verge of completing a 2800 kilometres back haul network infrastructure, informed that Etisalat’s current base transceiver stations is 4500 spread across the country. Speaking on the MNP process, which was introduced in Nigeria April 2013, Wilsher commended the Nigerian Communications Commission (NCC) for the initiative, stressing the process has given subscribers opportunities for freedom of choice. Though, he said the multi SIM nature of the country is impacting on the process greatly, but “I can stress that there has been huge explosion in porting in Nigeria. Porting has become very easy now and this is good for customers.” The Head of Marketing and
High Value Proposition at Etisalat, Idowu Adesokan informed that the porting process has favoured Etisalat more than competition. According to him, before the launch of MNP in the country, Etisalat had 15.3 million subscribers, “but now we have over 19 million subscribers. “I can say that we have 45 per cent port-in and between nine and 10 per cent port out. This has brought huge confidence on the network.” While calling for the protection of ICT infrastructure in the country, Wilsher said vandalisation impact negatively on the infrastructure of all operators, “but we at Etisalat respond quickly to restore our operations. We still share infrastructure, but done sensibly and strategically.” Willsher said the telecommunications industry has done huge job in meeting the demands of the growing country’s subscriber base estimated at about 130 million.
! !"#$%&'($)"(&!"%*+,-&./0102&34%$5+2&6-7"8& "#$%&'($)"(&!"%*+,-&./0102&34%$5+2&6-7"8& DO DOW W S&P S& P 500 500 NASDAQ NASDAQ IN D E X US TR U S INDEX & FTSE 00 FTSE 1100 DAX DAX CAC CAC 40 40 TR EUROPE EUROPE & NIKKEI NIKKEI HANG SENG ENG HANG S SENSEX SEN SEX &
16, 16,717.17 717.17 1,923.57 1, 923.57 4,242.62 4,242.62 174.80 174.80
+18. +18.43 43 +3.54 +3. 54 -5. 5.33 -5.33 +0.17 +0. 17
+0. +0.11% 11% +0.18% +0. 18% -0.13% -0.13% +0.10% +0. 10%
6,844.51 6,844.51 9,943.27 9,943.27 4,519.57 4,519.57 181.75 181.75
-26.78 -26. 26.78 +4.37 +4. 37 -10.94 -10. 10.94 +0.33 +0. 33
-0.39% -0.39% +0.04% +0. 04% -0.24% -0.24% +0.18% +0. 18%
14,632.38 14,632.38 23,081.65 23,081.65 24,217.34 24, 217.34
-49.34 -49. 49.34 +71.51 +71.51 -16. -16.81 16.81
-0.34% -0.34% +0.31% +0. 31% -0.07% -0.07%
President DMS Retail West Africa, Joseph Ebata (left); Executive Vice President / Senior Consultant, DMS Retails, Matt Parmaks ; Chief Executive Officer, Ruff ‘N’ Tumble , Adenike Ogunlesi; Director, Consumer Banking Group, United Bank for Africa Plc, Ilesanmi Philips; and Managing Director/Chief Executive Officer, 3D Impact Marketing Limited, Solomon Itegboje, during the Retail Leaders Conference in Lagos.
NLNG to pay over N220 billion yearly tax from 2014 CONTINUED FROM PAGE 21
!"##$%&'()*+,$( Currency EUR/USD GBP/USD USD/JPY USD/CHF USD/CAD AUD/USD (
Last 1.3630 1.6757 101.78 0.89550 1.0843 0.93090
Day High -------
Day Low -------
% Change -------
Bid 1.3630 1.6757 101.78 0.89550 1.0843 0.93090
Ask 1.3635 1.6762 101.79 0.89570 1.0849 0.93130
Policy which, among other things, encourages full participation of indigenous firms in the company’s contracting and procurement processes. One such beneficiary is Enchep Limited whose facilities were revamped with NLNG’s help to supply thousands of different sizes and ranges of gaskets to Trains 4, 5 and 6. Dorman Long Nigeria Limited, also with NLNG’s help, has supplied steel structures and low-pressure carbon steel vessels for Train 3. Yet other beneficiaries include AluminiumNow, Niger Delta Petroleum Resources, Nexans Kabelmetal, Holborn Nigeria Limited, and Waste Pipes and Drainages, to mention only a few”, it added. It disclosed that the company provided more than 2,000 jobs each construction year. “Overall, the major sub-contractors employed about 18,000 Nigerians in technical jobs in the Base Project (Trains 1 and 2). About 500 expatriates played mainly supervisory
roles during the Base Project and were understudied by the Nigerians whom they worked with. Nigerians, with enhanced skills, have long joined the country’s workforce, providing a support base for technology transfer and industrialization”, it added. The company said it has commenced the supply of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas to the domestic market in 2007 when refineries became challenged. This, it said, was in line with the company’s commitment to contribute significantly to the stimulation and development of the domestic LPG market in Nigeria. Our intervention brought down the price of cooking gas from N7,000 to N3,500 per 12.5kg cylinder. It noted that NLNG has signed sales and purchase Agreements (SPA) with off-takers (all Nigeria companies) in which the company is now committed to deliver 250,000 tonnes of LPG into the Nigerian market annually.