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Nigerian Data Subscribers Dump MTN, Airtel

Nigerian Data Subscribers Dump MTN, Airtel

Over 3.52m Nigerian data subscribers dump MTN, Airtel, as Glo closes in on foreign firm

MTN and Airtel were the biggest losers of the second quarter of 2021, as both network providers lost a combined 3.52 million data subscribers between April to June.

Industry review for second quarter

During the period under review, the total industry’s active data subscriber base dropped by 3.3 percent, representing a loss of 4.76 million users, according to Ripples Nigeria analysis of the industry’s performance in Q2 2021.

Nigeria’s telecommunications industry is dominated by four major telcos, MTN, Globacom, Airtel and 9mobile. The total internet service subscriber base from the firms dipped for three months consecutively, ending Q2 with 139.81 million, against the 144.58 it ended Q1 with – and 1.5 percent year-on-year.

Nigerian Data Subscribers Dump MTN, Airtel

MTN Nigeria

MTN Nigeria was the highest loser during the second quarter of 2021, losing 1.98 million in total, as its subscriber base declined for three months consecutive, to end June with 59.59 million users, below the 61.57 million it started April with, according to NCC data.

In April, MTN lost its largest during the period under review, as 1.12 million customers stopped using the network’s service, in May, the loss dropped to 243,203 subscribers, and 607,511 was wiped off in June.

Airtel Nigeria

Airtel Nigeria was next on the losers table, as 1.54 million users abandoned the Bharti Airtel subsidiary between April to June this year, dragging the firm further away from its closest rival Globacom.

Airtel had ended June with 36.23 million data subscribers, which fell from 37.77 million, which it started April with, as 115,462 internet users were lost in the former, and 751,457 gained in the latter – however, it lost 906,669 in May.

Globacom

The Wale Adenuga-owned company lost 932,250 data subscribers in the three months of the second quarter of this year, as dropping from April’s opener of 38.80 million users to 37.87 million customers at the end of June.

Globacom had lost 1.09 million data users in April, and lost 118,730 subscribers the next month before gaining 283,766 customers in June this year.

9mobile

The company recorded the lowest loss based on the size of its total subscriber, which ended at 6.10 million in June, failing to surpass the 6.14 million it started Q2 with.

During the period under review, 9mobile lost a total of 310,767 subscribers within the three months period, as April, May and June accounted for 195,241, 6,594, 108,932 data users losses respectively.

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Business

NBS Says Price Of Kerosene Hit N1, 041 per Litre In October

The National Bureau of Statistics (NBS), has disclosed that the average retail price of Household Kerosene (HHK) paid by consumers in October was N1, 041.05 per litre.

The NBS stated in its “National Household Kerosene Price Watch” for October 2022 that the average price was a 9.90 per cent increase over the N947.30 per litre recorded in September 2022.

“On a year-on-year basis, the average retail price per litre of the product increased by 145.87 per cent from N423.42 recorded in October 2021.”

On state profile analysis, the report showed that the highest average price per litre of kerosene in October 2022 was recorded in Cross River at N1,304.17, followed by Enugu at N1,300.00 and Lagos at N1,294.44.

Conversely, it said the lowest price was recorded in Borno at N783.33, followed by Rivers at N804.17 and Bayelsa at N805.67.

The NBS said that analysis by zone showed that the South-East recorded the highest average retail price per litre of Kerosene at N1,191.14, followed by the South-West at N1,142.60.

It said the North-East recorded the lowest average retail price per litre of kerosene at N905.18.

The report said the average retail price per gallon of kerosene paid by consumers in October 2022 was N3,516.87, indicating an 8.67 per cent increase from N3,236.27 recorded in September 2022.

”On a year-on-year basis, the average price per gallon of kerosene increased by 126.46 per cent from N1,552.96 recorded in October 2021.”

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Business

No Plan To Introduce N5,000 Note- CBN

The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated banknote as being speculated by some sections of the society.

Ahmed Umar, the Director, Currency Operations of CBN clarified this at a three-day workshop organised by the Nigeria Deposit Insurance Corporation (NDIC), for members of the Financial Correspondents Association of Nigeria (FICAN) and Business Editors.

The News Agency of Nigeria (NAN) reports that the workshop, which opened on Monday in Port Harcourt, has as its theme: “Building Depositors Confidence Amidst Emerging Issues and Challenges in the Banking Industry.”

Umar who spoke on the topic, “Redesign of the Naira: Benefits to the financial system and the Nigerian economy”, said the apex bank was not carrying out note restructuring.

“We are not introducing any new note because there was noise, some people have seen one N5000 note that we don’t know about,” he said.

Umar was represented by Amina Halidu-Giwa, the Head, of the Policy Development Division, Currency Operations Department of the bank.

He explained that if the apex bank wanted to carry out note restructuring, it would need to coin the lower bills, like the N100 note for example.

He also said that the apex bank had not made any provision for exchange in the redesigned note, adding that what it was printing would only replace the currencies withdrawn.

“What we are printing is going to be very limited because we want other means of settling transactions to be used.

“Because of Nigerians and cash, there seems to be a problem. And it will give us enhanced visibility and control of the currency.

“We will also be able to control the number of banknotes outside,” he said.

The News Agency of Nigeria (NAN) reports that videos of some bundles of new N5,000 notes with the name of the Central Bank of Nigeria clearly printed on them, circulated on WhatsApp immediately after the apex bank announced plans to redesign the N200, N500, and N1,000 notes in October.

(NAN)

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Business

Jaiz Bank Relocates Head Office To Abuja

Jaiz Bank Plc has relocated its Head Office to its own building, Jaiz Bank House, in Garki, Abuja.

A statement by the company on Tuesday said the movement coincides with the 10th anniversary of the bank.

The bank commenced operations in 2012, with three branches in Abuja, Kano and Kaduna.

It currently has 46 branches across Nigeria.

The statement said the new Head Office would provide the bank with more visibility, enlarged space and enhanced capacity to deliver excellent service to its stakeholders.

“The management is thankful to its esteemed customers and shareholders who have continued to support the bank all along and appreciates the hardworking staff for their dedication to duty.

“In the non-interest banking space in Nigeria, Jaiz Bank controls over 62% assets, which is supported by its robust gross income of N23.74 billion as at end of September 2022 from N18.78 billion at the end of September 2021, representing “26.34% increment.”

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