Business
NIN-SIM Linkage: Airtel Laments Loss As 8.5m Customers Yet To Comply
The Federal Government had ordered telecommunications operators including MTN, Globacom, Airtel, and 9mobile to bar all outgoing calls of all Subscriber Identification Module cards not yet linked with the National Identification Number effective from April 4, 2022.
However, telecommunications operator, Airtel Nigeria, has lamented revenue loss as about 8.5 million of its customers were yet to comply with the linkage.
Airtel Nigeria noted that only 35.9 million out of its 44.4 million active customers had linked their NIN with their SIMs as of the end of April 2022, about one month since the barring.
The PUNCH learnt that 8.5 million subscribers of Airtel had yet complied and were said to have been placed on ‘receive only’ status, meaning all their outgoing calls would not go through but would receive incoming calls.
Airtel Africa, the parent body of the Airtel Nigeria, made this known in its financial report for the year, ended March 2022.
Airtel noted that the number of its customers that were yet to link their NIN had affected its revenue for the year by 7 percent.
Airtel Africa report said, “As of the end of April 2022, we have collated NIN information for 35.9 million active customers. Outgoing voice revenues for those active subscribers who have not yet linked their NIN with their SIM amount to around 7 percent of total revenues from Nigeria, and around 3 percent of total revenues for the Group.
READ ALSO: Osinachi, NIN-SIM Linkage, Others Top Search On Google Trends In April
“However, our experience of adopting similar procedures in other countries suggests that SIM registration is accelerated, and some SIM consolidation is likely to occur in response to implementation, potentially reducing any financial impact.
“As of the end of the year, Airtel Nigeria had an active customer base of 44.4 million and posted revenue of $1.878 million. We continue to work closely with the regulator and impacted customers to help them to comply with the registration requirements, making every effort to minimise disruption and ensure affected customers can continue to benefit from full-service connectivity as soon as possible; in line with our aim to drive increased connectivity and digital inclusion across Nigeria.”
Business
Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO
Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”
He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.
Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”
READ ALSO:BREAKING: Wike Picks Alabo George For Rivers Governorship
According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.
The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.
He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.
According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.
READ ALSO:Senatorial Seat: Ogbakha-Edo Warns Against Imposition Of Candidates In Edo South
He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.
“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.
“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.
“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”
When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”
Business
JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.
Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.
This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.
Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.
According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.
READ ALSO:Drivers Protest Fuel Increase, Raise Fares in Benin
However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.
This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.
Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.
Business
Dangote Refinery Hikes Petrol Price
Dangote Refinery has increased the ex-depot price of petrol by N75.
The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.
READ ALSO:Dangote Sugar Announces South New CEO
This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.
DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.
-
Politics4 days ago2027: Tinubu’s Re-election May Put An End To Nigeria — Baba Ahmed Warns
-
Metro5 days agoI’m A Street Girl’ – Bimbo Ademoye Clashes With Area Boys [VIDEO]
-
Politics5 days agoBREAKING: 2027: Former Adamawa APC Guber Candidate, Aishatu Binani Defects To NDC
-
Politics5 days agoSenatorial Seat: Ogbakha-Edo Warns Against Imposition Of Candidates In Edo South
-
Business3 days agoJUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
-
Entertainment4 days agoActress Eniola Badmus Gets New Federal Appointment
-
News5 days ago10 African Countries With Highest Petrol Prices In Prices In April 2026
-
News2 days agoBREAKING: Wike Picks Alabo George For Rivers Governorship
-
Politics3 days agoNDC Speaks On Peter Obi, Kwankwaso Joining Party
-
News3 days agoOPINION: Why South Africans Murder Nigerians In Cold Blood
