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Home Blog Page 7369

Why None Of MTN, Airtel Or AMCON Will Acquire Etisalat Nigeria, GLO Remains The Best Buyer

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After my videocast on why I think that Glo will acquire Etisalat Nigeria, some have noted privately and publicly that MTN should not be discounted. Also, some have also explained that AMCON could come on board and save Etisalat Nigeria. This is my response  and I do maintain that Glo is the best strategic suitor for Etisalat Nigeria. And neither MTN nor AMCON can help Etisalat Nigeria.

  • MTN has Visafone and going for Multichoice. It is #1 and no regulator will approve it to swallow #4 thereby giving it more than 40 million subscribers above #2 (Glo). It will not happen. Also, MTN is owing Nigeria and any attempt to bring such amount of money to execute this deal will undermine its request that it has to pay Nigeria over years. MTN cannot be that stupid to even think of it because it knows it will not happen.
  • Airtel cannot also do a deal because in India, Airtel is fighting for survival with Jio which is using massive discount to pull market share from Airtel and others. For Airtel to acquire Etisalat, it may have to sell assets in other markets.
  • Consider outsiders like Vodacom/vodafone. They may not like to buy for #4 position. Buying Etisalat NG alone offers no major competitive advantage. Vodacom likes to be category-king. Being #4 may not be a good idea in my opinion. That is why I do not see a path for an outsider to jump in for #4. But if Airtel NG wants to sell, then Vodacom can come in for #3 and #4.
  •  AMCON will not bailout a telco because Etisalat is not a strategic asset to Nigeria. There are other companies doing what Etisalat does and a failed Etisalat will not have dire consequence to Nigeria’s economy. Besides, it is neither a bank nor in aviation sector. Plus, it has a foreign heritage. No one will do such a deal because Nigerians will cry foul if government wants to save Etisalat which might have noted it wanted a license to bring foreign capital into Nigeria. How will you justify a bailout?
  • However, to avoid banks getting hammered with Etisalat default, AMCON can do a bailout and pay the banks. But to do that, it will first have a deal to auction Etisalat and not to run it. Running Etisalat to recoup $1.2B will be madness . The market is hot for anyone to make such profits for #4 telecom operator in Nigeria. The end result will be systematic collapse of Etisalat Nigeria

In summary, I do not think it makes sense for either MTN or AMCON to save Etisalat Nigeria. Glo remains the best strategic suitor for a deal.

 

Looming Job Losses

The Minister of Labour and Employment in Nigeria will tell you that no corporate firm in Nigeria should fire workers with reckless abandon. He  is right, we need a humane attitude to it. Now is the time for him to come and save Etisalat workers by helping to effect a deal with the banks. If Etisalat is bought, there will be job losses from M&A. If government begins to make noise afterwards, it will be medicine after death. Now is the time for Chief Chris Ngige to fight for Etisalat workers in Nigeria.

Buhari Government Announces June 13th For Reopening Of N-Power Portal

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Buhari government has announced that the N-Power portal will be reopened for registration on June 13, 2017.This announcement was communicated via twitter. Interested candidates are expected to visit npower.gov.ng when the portal reopens.

 

 

Breakdown Of Paris Club Refunds To Nigerian States

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The federal government has finally released a breakdown of the first tranche of Paris Club refunds paid to states to date.

The payments, totalling N516.38 billion, were made to the 36 states and the Federal Capital Territory upon the approval of President Muhammadu Buhari on November 21 2016, a statement by Salisu Danbatta, director of information in the Ministry of Finance said.

See the payment details below:

REFUND OF OVERDEDUCTIONS ON PARIS CLUB LOANS ON THE ACCOUNTS OF STATE AND LOCAL GOVERNMENTS (1995-2002)

Prof. Ango Abdullahi And Northern Elders Support Arewa Youth, Say Igbos Must Leave

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The Kaduna Declaration by Northern Youth seems to be evolving as a major problem for Buhari Government.

The Northern Elders’ Forum (NEF), on Friday expressed support to the call by the Coalition of Northern Youth Groups for Igbos to leave the region within three months.

The forum expressed “disappointment” with the Northern Governors’ Forum for disowning the youth groups.

Prof. Ango Abdullahi, the NEF spokesperson told newsmen in Zaria on Friday, that it was hypocritical for the Igbos to continue to live in other parts of the country while agitating for Nigeria’s break up.

Ango said: “I am disappointed in the decision taken by Northern Governors’ Forum disowning and condemning the agitation by this young agile and progressive youth groups.

“Let me ask, these Northern governors, whom are they representing, are they representing spirits, ghost or people of the north?

“Recently, people from eastern part of this country, specifically Igbo, were busy calling for the Sovereign State of Biafra and from all indication their leaders including governors are behind them.”

According to him, whoever feels Nigeria “is not conducive for him” let him quit, adding that what the northern youth groups did was not a sin.

He lamented that none of the Northern governors reacted to the persistent call for the actualisation of Biafra and other agitations.

The spokesman said when Nnamdi Kanu was released on bail recently, over 100 vehicles escorted him to his residence including big personalities from the south-west and south-east.

“This is somebody who has been agitating for the breakup of Nigeria but his people were behind him, therefore, I am behind the youths.

“This is because the Northern youths are pushed to the wall, we have been calming them down in any event similar to this,” he noted.

Speaking specifically on the Igbos, Ango said the people from the south were always pretending that people from the north were cheating them.

“These people always pretend that the North is cheating them, not minding the fact that Southern Nigeria was developed by resources from the North.

“Please, look for a book written by Adamu FiKa, the Waziri of FiKa on Nigeria’s budget before and after independence.

“Each year, up to the time Nigeria gained its independence, none of the two regions was able to provide for itself.

“I mean none of the Western and Eastern regions had the money to effectively run the affairs of its region until they get financial support from the Northern region,” he said.

He recalled that the tradition had remained during the colonial masters and nothing changed after they left the country.

Ango said it was the same money from the North that was used to construct Nigerian Railways, refineries and other facilities.

“First oil exploration was conducted using money from groundnut pyramid, cotton, hide and skin among other cash crops from Northern Nigeria.

“However, these people tend to forget all these goodies provided by the North toward ensuring the unity and corporate existence of Nigeria.

“They always look down on us, feeling that Northerners are parasites in this country,” he said.

Commonwealth Telecommunications Organisation (CTO), Nigerian Communications Commission (NCC) Recruiting

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The Commonwealth Telecommunications Organisation (CTO) is the oldest and largest Commonwealth intergovernmental organisation in the field of Information and Communication Technologies (ICT). Being fully involved in the development and use of ICTs for social and economic development, the management of the organisation recognise that it must stay at the cutting edge of ICT developments in order to deliver significant benefits to its members.

The Nigerian Communications Commission (NCC) in collaboration with the CTO London, United Kingdom, seeks to recruit Commonwealth employees who are committed to the vision and mission of the CTO, and the wider development of the Commonwealth in the capacities below:

1.) Manager – Human Resources and Administration

Deadline: 13th June, 2017

2.) Senior Web Development & IT Officer

Deadline: 20th June, 2017

3.) Entry-level Assistant Events Officer

Deadline: 20th June, 2017

4.) Manager – Finance & Pensions

Deadline: 13th June, 2017

5.) Graduate Executive Assistant to the Secretary-General

Deadline: 20th June, 2017

How to Apply

Interested and qualified candidates should submit their Curriculum Vitae and attach the Application Form below to: recruitment@cto.int