The Honourable Minister of State for Defence, H.E. Dr. Bello Muhammed Matawalle MON, has expressed his gratitude to H.E President Bola Ahmed Tinubu GCFR, for his decisive action in ensuring the prompt payment of military salary increase with three months arrears and also today’s release of funds for the payment of Pension and other owed entitlements of retired military Personnel

Dr. Matawalle confirmed that alerts regarding the three-month salary increase for military personnel have begun to be received.

The Minister commended President Tinubu for his unwavering commitment to the welfare of both serving and retired military personnel, emphasizing that the payment of pension arrears owed to retirees will continue to receive critical attention. This initiative reflects the President’s dedication to enhancing the living standards of those who have served the nation.
Furthermore, the Hon minister acknowledged the efforts and support of the Honourable Minister of finance and Coordinating minister of Economy Mr Wale Edun who was very committed in the actualization of these payments.
Dr. Matawalle urged the Nigerian military to remain steadfast in their duties, reassuring them that President Tinubu is fully committed to boosting their morale and providing the necessary support to combat insecurity in Nigeria. “Despite initial setbacks, be rest assured that Mr. President will do everything within his power to uplift our military forces as they confront the challenges of insecurity,” he affirmed.

Highlighting the significant contributions of the Nigerian military in combating insurgency, terrorism, and other forms of criminality, the Minister reiterated the vital role that these brave men and women play in ensuring the nation’s security.

He assured the officers and personnel of the Nigerian Armed forces of President Tinubu’s unwavering resolve to eradicate insecurity in Nigeria, bolstered by the readiness and resilience of the military.

 

As the cost of living continues to rise, it is becoming increasingly clear that the telecommunications sector, a backbone of Nigeria’s digital economy, cannot be exempt from the economic realities gripping the nation. While Nigerians depend heavily on affordable and reliable voice and internet services, the truth is that telecom operators are grappling with skyrocketing operational expenses, which threaten the sustainability of the entire industry.

The Nigerian Communications Commission (NCC) has announced that it will unveil a new and simpler tariff structure for telecom operators on December 13, 2024. This move signals a critical step towards addressing the imbalance between service costs and operational realities. While no one likes the idea of paying more, we must face the uncomfortable truth: quality services come at a cost, and maintaining the status quo could lead to a collapse in service standards.

The Unseen Struggles of Telecom Operators

Telecom operators in Nigeria, including major players like MTN, Airtel, and Glo, have long kept prices stable, even as the costs of fuel, electricity, and infrastructure maintenance have soared. In October, MTN’s CEO, Karl Toriola, painted a bleak picture: the industry is hemorrhaging money, relying on financial reserves to stay afloat. This is not a sustainable model.

Earlier this year, telecom operators made their first call for a tariff review in 11 years. Their argument was simple: without a fair adjustment to tariffs, the quality of service will deteriorate, and the financial health of the sector will be compromised. Despite these warnings, the industry has continued to bear the brunt of economic inflation without passing the costs on to consumers.

Why Nigerians Should Pay Attention

The telecommunications sector is one of the few that has not raised prices despite inflationary pressures. Yet, this generosity cannot last forever. Network operators must invest in infrastructure to expand coverage, improve internet speeds, and ensure that call quality meets global standards. Without the necessary financial resources, these investments will stall, leaving Nigerians with subpar services.

It’s also worth considering that telecommunications are no longer a luxury but a necessity. From remote work to online learning, e-commerce, and healthcare, every aspect of modern life depends on a robust and reliable digital network. If we expect first-world services, we must be willing to shoulder part of the cost.

The NCC’s Balancing Act

The NCC’s new tariff framework promises to make pricing more transparent and consumer-friendly. While the details are still under wraps, it’s crucial that any changes strike a balance between affordability for consumers and profitability for operators. This is not just about raising prices—it’s about ensuring that the industry remains viable while providing Nigerians with the quality services they deserve.

A well-thought-out tariff adjustment could also open the door for innovative pricing models. For example, operators might introduce data-sharing plans, pay-per-use models, or tailored packages for different demographics. Such initiatives would ensure that consumers get value for money while helping operators cover their costs.

A Call for Understanding

As we approach December 13, it’s important for Nigerians to approach this issue with an open mind. Nobody wants to pay more, but the cost of doing nothing is far greater. If operators can no longer sustain their services, the digital backbone of our economy will crumble, affecting millions of lives and businesses.

The NCC’s forthcoming announcement is a reminder that we are all stakeholders in this industry. While telecom operators must prioritize efficiency and innovation, consumers must also recognize the economic realities and be prepared to contribute to the sustainability of this vital sector.

By ensuring that telecom tariffs reflect the true cost of operation, we can secure a brighter, more connected future for all Nigerians.

— Anthony Emeka Nwosu

Telecom operators in Nigeria, including major players like MTN, Airtel, and Glo, have long kept prices stable, even as the costs of fuel, electricity, and infrastructure maintenance have soared. In October, MTN’s CEO, Karl Toriola, painted a bleak picture: the industry is hemorrhaging money, relying on financial reserves to stay afloat. This is not a sustainable model.

By Anthony Emeka Nwosu

The Nigerian entertainment industry, particularly Nollywood, has grown into one of the largest and most influential movie industries globally. Since Kenneth Nnebue’s pioneering film Living in Bondage, Nollywood has attracted significant international investments, including from Netflix, the global streaming giant. However, recent rumors about Netflix pulling out of Nigeria have raised concerns and sparked debates about the sustainability and challenges of doing business in the Nigerian film industry.

Netflix’s Impact on Nollywood

Netflix’s entry into Nigeria began on a high note, marked by its acquisition of Genevieve Nnaji’s Lionheart, the first Nigerian film to stream on the platform. This milestone opened doors for several collaborations, enabling top producers to showcase compelling Nigerian stories to a global audience. Netflix not only streamed these movies but also invested millions in their production.

However, insiders allege that these investments were mismanaged. According to filmmaker Daddy Dabz, “Netflix funded projects upfront, but some producers diverted funds, allocating only a fraction to actual production, which led to substandard movies with poor storytelling and quality.” These issues reportedly affected Netflix’s ratings and led the company to revise its operating model in Nigeria.

Shifting Strategies and Terms

In response to these challenges, Netflix has reportedly stopped directly funding movie productions in Nigeria. Instead, filmmakers must now independently fund their projects, which Netflix will only purchase if they meet the platform’s standards. This new model emphasizes accountability and aims to enhance content quality.

Nollywood comedian Basketmouth shed light on the issue, claiming, “Many producers misused funds, prioritizing personal luxury over movie quality. Netflix is tired of this and has decided to let filmmakers prove themselves before investing.”

Is Netflix Truly Leaving Nigeria?

Contrary to circulating rumors, Netflix has not entirely exited the Nigerian market. Users can still access their accounts and stream movies. What has changed is the company’s investment strategy. While some critics view this shift as an indirect exit, others argue it is a necessary step to hold the industry accountable.

Comparisons have been drawn to companies like GSK, which maintained product availability in Nigeria despite halting direct operations. Similarly, Netflix’s new terms mean the platform remains active but will no longer fund local projects upfront.

Industry Reactions

Nollywood stakeholders have expressed mixed reactions. Filmmaker ‘Nosa of Nollywood’ attributed Netflix’s reduced involvement to “greed and dishonesty” among Nigerian producers. “Netflix left because funds meant for production were often misappropriated, leaving crew members and actors underpaid,” she lamented.

Murtala Muhammed Balogun added, “Netflix’s decision isn’t a problem. It’s about ensuring filmmakers produce quality content before selling it to the platform.”

Meanwhile, Ndubueze Odum humorously noted the public’s reaction, saying, “Netflix leaving Nigeria means no more ‘Netflix and Chill.’ But seriously, their reduced investment will hurt Nollywood’s global exposure and job creation.”

The Way Forward for Nollywood

Netflix has reaffirmed its commitment to telling Nigerian stories, but the onus now lies on Nollywood producers to adapt to the new terms. As alternative platforms like Amazon Prime Video gain traction, Nigerian filmmakers must improve transparency and production quality to attract international partnerships.

The rumored Netflix “exit” highlights deeper systemic issues within Nollywood that must be addressed to ensure the industry’s sustainability and global competitiveness.

Final Thoughts

For now, Netflix remains a key player in Nigeria, albeit with a revised operational approach. This Christmas, Nigerian audiences can still expect blockbuster releases on the platform, but the broader industry must embrace accountability to thrive in this new era of filmmaking.

 

 

By Anthony Emeka Nwosu

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been conferred with the prestigious Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN) at the 59th Annual Bankers Dinner held in Lagos. In his keynote address, Cardoso outlined Nigeria’s economic outlook for 2025, emphasizing the need for greater economic diversification and robust reforms to ensure financial stability.

Banking Sector Resilience and Economic Reforms
Reflecting on the past year, the governor highlighted the resilience of the banking sector, citing a non-performing loan (NPL) ratio under 5% and liquidity ratios exceeding 30%. He assured that banks are well-positioned to drive economic growth, particularly through increased credit access for micro, small, and medium enterprises (MSMEs).

“Our journey toward economic reform has yielded encouraging results,” Cardoso noted, adding that the CBN is committed to fostering trust and stability in the financial system.

The Riot Act on Financial Malpractices
Addressing allegations of financial malpractice and deliberate cash flow disruptions, the CBN governor read the riot act to institutions found culpable. “The CBN will not tolerate any sabotage of seamless cash flow for Nigerians,” he said, urging customers to report difficulties in withdrawing cash from bank branches or ATMs directly to the CBN starting December 1, 2024.

Inflation, Innovation, and Financial Inclusion
While acknowledging that inflation remains unacceptably high, Cardoso expressed optimism, saying, “Our commitment to price stability is unwavering. We aim to ensure the benefits are felt by every Nigerian.”

He commended Nigeria’s burgeoning fintech sector for driving financial inclusion and attracting global investors, with several startups achieving unicorn status this year. “Nigeria’s leadership in innovation is undeniable,” he declared.

Payment System Vision 2025 and Capacity Building
Unveiling the CBN’s Payment System Vision 2025, Cardoso outlined plans to advance cross-border payments, implement an open banking framework, and expand the regulatory sandbox to foster innovation.

He also announced the launch of comprehensive mentorship and capacity-building initiatives to equip young Nigerians with the skills needed to drive economic resilience and sustainable growth.

A Call to Collective Action
Cardoso charged financial institutions to rise to their market-making responsibilities and deliver tailored solutions that empower customers to manage risks effectively. “This is not just the Central Bank’s journey; it is Nigeria’s journey. Building an economy where every individual, business, and community thrives requires collaboration among banks, regulators, businesses, and citizens,” he stated.

Recognition and Fellowship Awards
The evening also celebrated outstanding contributions to the banking industry, with CBN Governor Cardoso and Lagos State Governor Babajide Sanwo-Olu being awarded the CIBN Fellowship for their dedication to economic transformation.

As Nigeria steps into 2025, Cardoso’s vision signals a robust and inclusive approach to tackling economic challenges and positioning the nation as a leader in innovation and financial growth.

 

 

The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, has underscored the importance of building sustainable digital infrastructure to fuel Africa’s economic transformation.

Presenting a paper titled: Building Digital Infrastructure for a Sustainable Digital Economy at the 2024 edition of Africa Tech Alliance Forum (AfriTECH 4.0) held recently in Lagos, Prof. Adeyanju noted that technology has the potential to redefine Africa’s economic trajectory, and that at Galaxy Backbone, they are dedicated to building the foundational digital infrastructure that supports this vision.

According to him, “Africa’s digital journey presents immense opportunities, but it requires robust, scalable, and sustainable infrastructure to enable economic growth. Galaxy Backbone’s mission aligns directly with these goals, as we work to provide the infrastructure and connectivity that powers government services, businesses, and communities across Nigeria.”

He said that today, digital infrastructure is much more than just technology but about creating resilient systems that empower citizens, foster economic empowerment, and drive inclusive growth. “Our investments in state-of-the-art data centres, fibre optic networks, state of the art SOC and secure cloud solutions have created a backbone that supports Nigeria’s public sector and enables interconnectivity among MDAs,” he said.

Prof. Adeyanju who was represented at the event by Mr. Nnamdi Onoh, Field Service Engineer at Galaxy Backbone, highlighted key projects, including the National Information Communication Technology Infrastructure Backbone (NICTIB), which has expanded connectivity and digital services across Nigeria.

Focusing on sustainability, he outlined Galaxy Backbone’s commitment to three pillars including Environmental Responsibility through energy-efficient practices in data centres; Economic Empowerment which aims at facilitating job creation and innovation, allowing businesses to scale; and Social Inclusion which is targeted at bridging the digital divide and reaching underserved communities.

He said that looking ahead, Galaxy Backbone plans to expand cloud services, strengthen cybersecurity, and explore AI, IoT, and blockchain to build a future-ready infrastructure, noting that the Government Service Portal (GSP), a consolidated platform for public services, was also introduced as a step towards enhancing transparency and citizen-centric services.

“In the next 12 to 24 months, Galaxy Backbone will focus on expanding our cloud capabilities, strengthening cybersecurity, and exploring emerging technologies like AI, IoT, and blockchain to enhance service delivery. Our goal is to build a future-ready infrastructure that supports the dynamic needs of Nigeria’s digital economy.

“We are also advancing projects such as the Government Service Portal (GSP), which consolidates public services into a single, accessible platform. This effort demonstrates our commitment to making government services more transparent, efficient, and citizen-centric,” he said.

The CEO emphasized that digital transformation is a collaborative effort involving government agencies, industry, and international partners and highlighted partnerships with NITDA, the Ministry of Communications, and ECOWAS members as essential for a resilient digital economy.

According to Prof. Adeyanju, “As we pursue this vision, we recognize the challenges we face—connectivity gaps, regulatory hurdles, and cybersecurity threats. Our approach is to address these proactively by investing in secure, scalable infrastructure and advocating for policies that enable digital growth. At Galaxy Backbone, we are committed to developing a skilled workforce capable of managing and advancing our digital infrastructure.”

In recognition of its leadership, Galaxy Backbone was awarded the ATAEx Outstanding Government Agency of the Year, an award Prof. Adeyanju said “underscores our commitment to a secure, inclusive, and sustainable digital future for Nigeria, reaffirming Galaxy Backbone’s dedication to advancing Africa’s digital economy.”

 

In a significant step towards fostering data privacy compliance, the National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, warmly welcomed the Director of the Abuja Geographic Information Systems (AGIS), Tukur Dan Asabe, to the Commission’s headquarters in Abuja.

The meeting, described by attendees as forward-thinking and collaborative, underscored the growing importance of data protection in public institutions. Mr. Asabe expressed his appreciation for the reception, emphasizing AGIS’s pivotal role as the custodian of geospatial and land data for the Federal Capital Territory. Highlighting the sensitive nature of their work, he said, “As an institution responsible for managing the data of thousands of landowners, we recognize the need to align our operations with modern data protection and privacy standards. This is why we are here—to learn, grow, and ensure we set an example for others.”

As part of his agenda, Mr. Asabe sought NDPC’s support in organizing a capacity-building workshop for AGIS staff. The workshop, he explained, would deepen their understanding of data privacy and ensure compliance with the Nigeria Data Protection Act. “Our goal is not just to collect and manage data but to do so responsibly and transparently,” he added.

In response, Dr. Olatunji commended Mr. Asabe’s proactive approach to data governance. Describing AGIS as a “strategic and vital organisation,” he acknowledged its role as a Data Controller and Processor of Major Importance (DCPMI). He noted that AGIS’s access to personal and proprietary information necessitates a robust commitment to data protection principles.

Dr. Olatunji assured the AGIS team of NDPC’s unwavering support, promising to facilitate training sessions tailored to their needs. “At NDPC, our mission is to ensure that every data controller and processor understands their responsibilities and complies with the law. AGIS’s willingness to take this step reflects a leadership mindset that prioritizes transparency and accountability,” he remarked.

Beyond training, the two leaders discussed forging a long-term partnership through a potential Memorandum of Understanding (MoU). This collaboration would institutionalize cooperation between NDPC and AGIS, creating a framework for continuous support and knowledge-sharing.

The visit marks a pivotal moment in the journey toward institutional compliance with Nigeria’s data protection laws. It also highlights the NDPC’s dedication to supporting organizations that demonstrate a commitment to safeguarding citizens’ privacy rights.

As Dr. Olatunji concluded, “Data is the backbone of governance in the 21st century. How we collect, manage, and protect it will define public trust and institutional success. Together, we can build systems that work for everyone.”

 

 

In the serene environment of Lekki, Lagos, Bonny Mekwunye, the Vice Chairman of KECAM Technologies Ltd, celebrated his birthday in grand yet humble style, surrounded by family, friends, and a wave of heartfelt well-wishes. Known for his deep spirituality and infectious warmth, Bonny chose to begin his special day on a reflective and thankful note, demonstrating the essence of his character—a man of faith, family, and community.

Bonny’s morning began with a solemn expression of gratitude as he recited the beloved hymn:
“Great is Thy faithfulness,
Morning by morning new mercies I see,
All I have needed Thy hand hath provided,
Great is Thy faithfulness, Lord, unto me.”

These words resonated deeply with his appreciation for life and the journey he has walked. Speaking with an air of humility and joy, Bonny said, “I remain deeply appreciative to the Almighty God for my new age, His protection, guidance, faithfulness, mercies, graces, and immense blessings upon my life. Without Him, it would have been impossible. Join me in thanksgiving to Him! Our Amazing God! Amen.”

A Life of Impact

Bonny is not only a family man but a pillar of support for many in his community. Over the years, his generosity and mentorship have left an indelible mark on the lives of countless individuals. Among those celebrating him was Seji Omoroje, who remarked, “Congratulations and happy birthday, Sir. Wishing you more glorious and fulfilling years ahead in good health and prosperity.”

Ojugo Raymond also shared his wishes, saying, “Happy birthday anniversary, Sir. May you have many more years of happiness and celebration. Continue to age with grace.”

Even Bishop Oscar Osai joined in, reflecting on Bonny’s personable and cheerful nature: “Happy birthday, Bonny. I celebrate you. You have always been a jolly good fellow. I pray for long life, peace, and joy.”

These tributes speak volumes about Bonny’s enduring impact as a friend, mentor, and leader.

Leading with Vision at KECAM Technologies

Bonny’s contributions extend far beyond personal relationships. As the Vice Chairman of KECAM Technologies Ltd, he has played a pivotal role in transforming the company from its modest beginnings in Ikeja into a formidable player in the IT distribution space. Today, KECAM Technologies is synonymous with innovation and excellence, partnering with global brands such as FOXIT and AXTEL to deliver cutting-edge business solutions across Nigeria and the ECOWAS region.

Under his leadership, the firm has become a beacon of growth and resilience, helping businesses harness technology to achieve their goals. These achievements are a testament to Bonny’s vision, determination, and ability to inspire those around him to aim higher.

A Celebration of Gratitude and Love

As Bonny reflected on his journey, surrounded by loved ones and well-wishers, the celebration became more than a birthday—it was a moment to honor a life dedicated to faith, family, and purpose. With his children and close friends by his side, the day was filled with joy, prayers, and a renewed commitment to making a positive difference in the lives of others.

Bonny Mekwunye’s story is one of growth, grace, and gratitude. Whether through his professional achievements or his personal relationships, he continues to shine as a source of inspiration for many. As he steps into another year, the warmth of his spirit and the depth of his influence are sure to grow even further.

 

 

 

 

…Invites Doubters for Facility Tour

 

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has insisted that the Old Port Harcourt Refinery is up and running, with loading operations in full swing.

The Group Chief Executive Officer, Mr. Mele Kyari, gave the confirmation at the commissioning of the NUPENG Towers in Lagos on Wednesday.

In a goodwill message at the event, Kyari extended invitation to human rights activist and lawyer, Mr. Femi Falana, and all those in doubt, to join the NNPC Ltd on a tour of the refineries in Port Harcourt, Warri, and Kaduna to verify their status.

He also shed light on the controversy around products blending, stating that blending was not a crime as it is an integral part of the refining process.

“If you don’t blend, you will bring out off-spec products which will destroy your vehicles. Every refinery blend because what is on specification in the United States of America will be off spec in Nigeria and elsewhere. Blending is necessary to bring products to the specification of different countries or regions,” he explained.

Kyari also congratulated NUPENG on the successful completion of the NUPENG Towers and urged the union to continue to prioritize dialogue and co-operation in its relationship with NNPC Ltd. and the Federal Government.

He disclosed that the President’s interventions in the oil and gas industry by way of Executive Orders were yielding positive results, with more investments coming in and prospects of more jobs in the industry.

 

The Nigerian Communications Commission (NCC) has highlighted the urgent need to safeguard the nation’s telecommunications sector, now classified as Critical National Information Infrastructure (CNII).

Speaking at the launch of the Critical National Information Infrastructure Protection and Resilience Workshop in Abuja, NCC’s Executive Vice-Chairman and CEO, Dr. Aminu Maida, described the Federal Government’s CNII Executive Order, signed by President Bola Ahmed Tinubu, as a game-changer for the industry.

“This designation provides a framework to tackle key challenges like vandalism, fibre cuts, and restricted access to facilities,” Maida said. He added that the telecoms sector has long struggled with these issues, which cost operators billions and hinder connectivity.

Dr. Maida commended the collaboration between the government, industry players, and regulators, saying the initiative would ensure a secure and resilient communication network for Nigerians. The workshop, organized by the National Cybersecurity Coordination Centre, marks a significant step toward protecting the country’s digital infrastructure.

 

 

Airtel Nigeria recently celebrated the legacy of its outgoing CEO, Mr. Carl Cruz, in a heartwarming farewell event that coincided with his birthday. The gathering, filled with laughter, moving speeches, and fond memories, paid tribute to his transformative leadership and deep impact on the organization and its people.

Mr. Cruz, whose tenure at Airtel Nigeria will be remembered for his visionary approach and purposeful leadership, left an indelible mark on the company’s culture and business trajectory. During his time as CEO, he not only strengthened Airtel Nigeria’s position in the telecommunications industry but also inspired his colleagues through his exemplary dedication and humanity.No alt text provided for this image

In a heartfelt statement, Airtel Nigeria expressed their gratitude:
“Dear Carl Cruz, thank you for your unforgettable contributions and for showing us what leadership with a purpose looks like. As you embark on this new chapter back home, know that you and your amiable wife, Adelle, will always have a family here in Nigeria.”

As Mr. Cruz returns home to begin a new chapter in his career, Airtel Nigeria wishes him and his wife Adelle all the best, confident that his legacy will continue to inspire the organization.