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MTN, Airtel Hit Revenue of N3.67tn From Data, Voice Services In H1 2024

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By Mario Deepromoter

MTN Nigeria Communications Plc and Airtel Nigeria collectively generated approximately N3.67 trillion from data and voice services in the first half of 2024, according to an analysis of their financial results.

MTN Nigeria, the country’s largest telecom operator with nearly 80 million subscribers, reported a revenue of N1.27 trillion in the first six months of 2024.

This surge was largely driven by data services, which brought in N726.6 billion, a 55 percent increase from N469.7 billion during the same period in 2023. Voice services also saw growth, with revenue rising to N541.3 billion from N474.1 billion year-on-year.

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The company attributed this growth to improved service quality and increased demand for data. Price optimization measures introduced in late 2023 also contributed to the rise in revenue.

Airtel Nigeria, with over 60 million subscribers, reported $229 million in revenue for the quarter ending June 30, 2024. This included $112 million from voice services and $117 million from data services.

While voice revenue dropped significantly by 55.8 percent from $254 million in the same quarter of 2023, it grew by 21.6 percent in constant currency terms. Data revenue also declined by 48.6 percent from $228 million in 2023, but constant currency figures indicated a 41.3 percent rise, reflecting increased demand for internet services.

For the fiscal year by ending March 31, 2024, Airtel posted $711m in voice revenue and $654 million in data revenue, totaling $1.594 billion. When converted to naira using the exchange rate of N1500/$1, Airtel generated N2.4 trillion in the first six months of the year. Combined, MTN and Airtel’s revenue from data and voice services amounted to approximately N3.67 trillion.

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Both telecom giants are capitalising on the growing demand for digital services as Nigeria’s digital economy expands.

However, they face challenges, particularly the devaluation of the naira against the dollar, which has inflated operational costs. Telecom operators spend heavily on diesel, with over 50 million liters consumed monthly to power infrastructure, even as they are shifting to clean energy to cut cost.

Source: Gistcore

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Reps Pass For Second Reading Bill to create Ogoja state

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By Gloria Ikibah

 

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The House of Representatives has passed for second reading a Bill for an act to alter the constitution of the Federal Republic of Nigeria ( 1999) (as amended) to create a new state in the SouthSouth Region of Nigeria known as Ogoja State.

 

The bill, which was sponsored by Rep. Godwin Offiono and 3 others seek to create a new state in the south-south geopolitical zone.

 

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The lawmakers are proposing to alter the 1999 constitution to create Ogoja state from Cross River.

 

The bill was voted for when put to a voice vote by the presiding officer, Speaker Tajudeen Abbas.

 

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The bill was referred to the committee on constitutional review for further legislative action.

 

 

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Just in; Kenyan Senate vote to impeach Vice President

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Kenya’s upper house of parliament is set to vote Thursday on whether to remove Deputy President Rigathi Gachagua from office in an unprecedented political saga that has gripped the nation.

The Senate will give its verdict at the end of the second day of an impeachment trial against the embattled number two to President William Ruto.

It follows a historic vote last week in the lower house, the National Assembly, to impeach Gachagua on 11 charges including corruption, insubordination, undermining the government and practising ethnically divisive politics.

A trial in the Senate began Wednesday after the 59-year-old, also known as “Riggy G”, failed in multiple court bids to halt the process.

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The outspoken politican arrived at parliament on Thursday, shortly before the session opened, and is expected to testify in his defence later.

Gachagua has denied all the charges — and no criminal proceedings have been launched against him — but he will automatically be removed from office if the Senate approves his impeachment.

If this happens, he would be the first deputy president to be ousted in this manner since impeachment was introduced in Kenya’s revised 2010 constitution.

Gachagua, who has protested that he is being treated like a “spent cartridge”, can however fight the impeachment in the courts once the parliamentary process is completed.

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Among the names of possible successors floated by the Kenyan media are Interior Minister Kithure Kindiki, Foreign Minister and Prime Cabinet Secretary Musalia Mudavadi and a county governor, Anne Waiguru.

Gachagua’s chances of survival are slim if opposition members in the 67-seat Senate back the ruling party as witnessed in the National Assembly vote on October 9.

Unlike the process in the lower house, where MPs delivered their verdict on the entire motion, senators need to back just one charge, by at least two-thirds of the votes, for the impeachment to succeed.

An overwhelming 282 MPs in the 349-member assembly had overwhelmingly voted to impeach Gachagua, well over the more than two-thirds required.

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A powerful businessman from Kenya’s biggest tribe, the Kikuyu, Gachagua weathered previous corruption scandals to become deputy leader as Ruto’s running mate in the closely fought 2022 election.

But in recent weeks, he has complained of being sidelined by the president, while also being accused of supporting youth-led anti-government protests that broke out in June.

Political tensions have been running high since the sometimes deadly demonstrations erupted over unpopular tax hikes, exposing divisions in the top echelons of power.

At a media briefing ahead of last week’s vote, Gachagua vehemently rejected what he called “nonsensical allegations” and said the efforts to oust him disregarded the will of the Kenyan people in 2022.

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Source: akeliciousnews

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Warning! FG tells Nigerians living close to river banks to relocate

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The Federal Government, via the Nigeria Hydrological Services Agency (NIHSA), has directed Nigerians living around river banks along the River Benue Basin to quickly move to safer grounds.

This was contained in a statement on Thursday, NIHSA Director General, Umar Mohammed, warned that water on the River Benue has reached the flooding level due to increased rainfall.

He also urged those along the River Niger to move to a safe location as the management of Kainji and Jebba Dams are working to control the floodwaters.

The NIHSA boss urged Nigerians to cooperate with the emergency management agencies and work together to build resilience against flooding in Nigeria and minimise the effects of the flood.

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Recently, the government warned Nigerians to relocate to safe ground after the release of water from the Lagdo Dam in Cameroon. This followed the release of water from the overflowing Alau Dam killed over 30 persons and swept away thousands of homes in Maiduguri, the capital city of Borno State.

In 2022, flooding ravaged many states, claimed 665 lives, displaced 2,437,411 persons, and affected 4,476,867 persons, according to data from the National Emergency Management Agency (NEMA).

Recall in 2023, devastating floods affected 159,157 individuals, caused the loss of 28 lives, and displaced 48,168. The release of water from the Lagdo Dam contributed to some of the flooding cases experienced.

For 2024, NEMA said flooding affected 1,048,312 people between April and September 2024, displaced 625,239 persons and killed 259 lives.

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