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Telecom sector contributes 16% to Nigeria’s GDP, says MTN

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The Chairman of MTN Nigeria, Dr Ernest Ndukwe, says the telecom sector now contributes over 16 per cent to Nigeria’s Gross Domestic Product (GDP).

Ndukwe said this in Abuja on Tuesday at a two-day Premier Capital Markets Day Event organised by MTN.

According to him,  in pursuant to MTN’s vision 2025 strategy, the company had evolved from telecom to technology business, adding that it assured on building connectivity business while expanding its focus on platform businesses.

He said  that as the digital ecosystem continued to grow,  MTN’s impact on the nation’s economy would continue to increase.

“MTN remains the largest network operator in Nigeria, and we recognise the enormous responsibility bestowed on us to continue to deliver world class ICT services to the people that patronise our services.

“We aalso seize strong oopportunities or growth in both our voice and data businesses as we work to increase our market permutations on geographical coverage.

“Our customers and their desires are the heart everything we do and plan for the future of the business.

“We are proud to say that the MTN ecosystem has directly or indirectly created employment for more that two million people, while supporting the livelihood of people across the country.

“We are fully committed to working with our partners and the Nigerian government to ensure that Nigeria’s digital economy has its full potential on customers and stakeholders,” he said.

In his remarks, the Chief Executive Officer (CEO) of MTN Nigeria, Mr Karl Toriola, expressed  optimism that  the economic challenges of the country were gradually coming to an end.

Toriola called on the stakeholders to enjoy the experience of the programme.

Mr Timi Popoola, CEO of Nigeria Exchange Limited, said the event would make both local and foreign investors stay close to the country, adding that it deepened interactions with MTN.

Popoola said that a sort code of *5474# was launched by MTN  in order to get a bouquet of options, which include: opening and closing prices of any security listed on the exchange.

“We hope that this is the first step of using a tool like this to invest in a capital market,” he said. (NAN)

Foreign News

Philippine President Calls for Resignation of All Cabinet Secretaries

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 Philippine President Ferdinand Marcos Jr. has asked all of his Cabinet secretaries to submit their resignations on Thursday in what he called a “bold reset” of his administration following last week’s mid-term elections.

The elections saw more opposition candidates win crucial Senate seats, signaling shifting political tides.

Marcos, the 67-year-old son of the late Philippine dictator overthrown in 1986, won the presidency in a landslide in 2022, a stunning political comeback marked by a call for national unity.

However, his vice-presidential running mate, Sara Duterte, also widely popular, later distanced herself from Marcos in a falling-out that had sparked intense political discord.

Marcos had since emerged as one of the region’s most vocal critics of China’s aggression in the disputed South China Sea, bolstered by support from the United States and other allies. Domestically, he continued to face significant challenges, including high inflation, unfulfilled promises to lower rice prices, and growing concerns over kidnappings and other crimes.

“This is not business as usual,” Marcos said in a government statement.

“The people have spoken and they expect results, not politics, not excuses. We hear them and we will act.” (AP/NAN)

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Reps to Investigate Alleged Irregularities in Driver’s licence Issuance, Revenue Generation

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The House of Representatives has resolved to set up an ad hoc committee to investigate operational issues related to driver’s licence issuance, revenue generation and usage within the last three years.The resolution was sequel to the adoption of a motion by Rep. Victor Ogene (APC-Bayelsa) at the plenary on Wednesday.

Moving the motion, Ogene said that a tripartite arrangement between Federal Road Safety Corps (FRSC), State Boards of Internal Revenue (BIR) and the Vehicle Inspection Office (VIO) led to the digital issuance or renewal of a driver’s license.
He said that the approving signature on a driver’s licence typically comes from a designated officer at the Motor Vehicle Administration Agency (MVAA) in the state where the licence application originated.
He explained that a learner’s permit for driving a vehicle was first issued at a prescribed fee by Motor Vehicle Administration Agency (MVAA) in the relevant state before the release of a driver’s licence.According to him, FRSC operates a Very Important Person (VIP) centre, ostensibly for the renewal of a driver’s licence, which is reportedly being used for issuing fresh driver’s licences that are not preceded with a learner’s permit.Ogene said that the Joint Tax Board (JTB) reviewed the fees payable for a five-year and three-year driver’s licence to N21,000 and N15,000 respectively for a vehicle, N11,000 and N7,000 respectively for a motorcycle or tricycle since Nov. 1, 2024.“FRSC is alleged to use its Information Processing Centre (IPC) for warehousing data for driver’s licences and shortchange the state Boards of Internal Revenue (BIR) and the Vehicle Inspection Office (VIO) in the collection and usage of fees for processing driver’s licences.“Worried that FRSC is reportedly controlling and receiving accounts for drivers’ licence fees, the yearly revenue generated from chargeable fees which amounts to hundreds of billions of naira, is also allegedly unaccounted for by the VIO and various state boards of internal revenue.“Disturbed that the processing of drivers’ licences is unexplainably being delayed for upward of two to three years after the biometric data capturing of applicants.“Also disturbed that the huge debts the FRSC owes Galaxy Backbone Ltd. and other system consultants who are the network providers and maintainers of the biometrics data capturing system are responsible for the system slowdown and the resultant long delay in the issuance of driver’s licences,” he said.Ogene also expressed the need to clearly ascertain which public agency had the legal responsibility of designing, producing and issuing a driver’s licence.In his ruling, Speaker of the House, Rep. Abbas Tajudeen said that the committee, when constituted, would report its findings within four weeks for further legislative action. (NAN)

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Those Waiting for Wike’s Downfall ‘ll Wait Endlessly – Aide

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Mr Lere Olayinka, spokesman to the FCT Minister Nyesom Wike says those waiting for the minister’s political downfall will wait endlessly.Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media, made the remarks while reacting to comments by former governor of Ebonyi Sam Egwu.

Egwu had in a statement on Tuesday, said that Wike was living on borrowed time, adding that the FCT minister’s influence would soon burn out.
Reacting, the spokesman said in a statement in Abuja on Wednesday, that those waiting for Wike’s downfall would wait forever.He argued that Wike’s political progress was based on personal hard work, dedication, commitment and most importantly, God’s grace.
Olayinka also faulted Egwu’s challenge to Wike to make it possible for the suspended governor of Rivers, Siminalayi Fubara to return to office.He also described allegations that the FCT Minister now exercises the powers of President Bola Tinubu and the National Assembly in Rivers as absurd.“This type of statement should not come from a former lawmaker,” he said.The Wike spokesman also dismissed the threats by a faction of the South East leaders of the PDP to withdraw their support for the party.According to him, it was illogical for people who could not deliver anything substantial in terms of votes to the PDP in the 2023 elections to be threatening to withdraw their support for the party.“The PDP constitution is clear as to who is the National Secretary of the party. His name is Senator Samuel Anyanwu, and anyone saying or doing anything contrary is only interested in the collapse of the party.” (NAN)

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