Connect with us

Business

From Hurdles to Growth: Inside the NCC’s Push for a Connected Nigeria

info

Published

on

IMG 0662.jpeg

BY NKECHI NAECHE-ESEZOBORWhen Dr. Aminu Maida took the helm at the Nigerian Communications Commission (NCC) in October 2023, he stepped into a challenging landscape marked by soaring operational costs and stubborn infrastructure gaps.

Yet, over the past few years, the commission has successfully turned these hurdles into stepping stones, steering Nigeria’s telecommunications sector toward a new era of steady growth and digital inclusion.

At the heart of the NCC’s recent success is a massive push to bring reliable phone and internet access to everyday Nigerians, especially those in rural and underserved communities.

By 2025, these deliberate efforts pushed the country’s internet broadband penetration rate to an impressive 48.81 percent, while teledensity—the percentage of the population with telephone connections—reached 79.65 percent.

Industry experts note that this rapid expansion didn’t happen by accident; it is the direct result of the regulatory stability and clear, reliable policy direction the NCC has established.Beyond simply expanding networks, the commission has taken aggressive steps to protect them.

In a major victory for the industry, the NCC actively championed a Presidential Executive Order that officially designates telecom facilities as Critical National Infrastructure.

This critical legal shield gives the government the teeth to fight back against the theft, vandalism, and sabotage that have long plagued network operators, disrupted daily services, and driven up business expenses.

Financially, the NCC has proven to be a vital engine for the nation’s economy. In the 2024 fiscal year alone, the commission generated roughly N195.8 billion through spectrum fees, operating licenses, and other regulatory revenues.

Proving its commitment to national development, the NCC sent more than N111 billion of those earnings straight into the Federal Government’s Consolidated Revenue Fund.

Looking toward the future, the NCC is also reshaping how technology businesses operate in Nigeria. The commission has introduced discussions for a fresh General Authorisation Framework alongside updated licensing systems. This modern approach is designed to cut through red tape for tech startups, welcome innovative business models, and make it much easier to deploy next-generation digital tools.

Ultimately, the NCC has managed a delicate balancing act. Even while navigating tough economic pressures like inflation and rising business expenses, the commission has successfully maintained investor confidence through open, transparent communication with network operators.

At the same time, it has kept its focus squarely on everyday citizens by strictly monitoring service quality and creating tools that help ordinary phone subscribers check network performance, ensuring that Nigeria’s digital future remains both strong and consumer-friendly.

The post From Hurdles to Growth: Inside the NCC’s Push for a Connected Nigeria appeared first on Business Today NG.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

H1 2026: Mutual Benefits Assurance Records 15.5% Asset Expansion to ₦204bn

info

Published

on

By

BY NKECHI NAECHE-ESEZOBOR—Nigeria’s retail insurance giant, Mutual Benefits Assurance Plc has reported 2.57 percent growth in Insurance Revenue to ₦42.25 billion  up from ₦41.20 billion in H1 2025.

According to the group’s unaudited financial statements, released on the floor of Nigerian Exchange Plc, Total Assets appreciated by 15.46% to ₦204.00 billion as of June 30, 2026 when compared to ₦176.68 billion at year-end December 2025.

Also, its Shareholders’ Funds grew to ₦72.32 billion as against ₦65.00 billion reported in December 2025, this indicating 11.25% growth

The company’s net income from reinsurance contracts held turned around significantly to ₦3.25 billion, reversing a net expense of ₦3.73 billion recorded in the same period last year.

The company reported a net profit of ₦3.51 billion for H1 2026, down 40.48% from ₦5.90 billion in H1 2025.

The underwriter’s total assets crossed the ₦200 billion mark, driven largely by a 50.10% rise in reinsurance contract assets, which reached ₦22.49 billion (up from ₦14.98 billion in December 2025).

Total liabilities stood at ₦117.98 billion, representing a 10.31% expansion from ₦106.95 billion recorded at the end of fiscal year 2025.

The post H1 2026: Mutual Benefits Assurance Records 15.5% Asset Expansion to ₦204bn appeared first on Business Today NG.

Continue Reading

Business

First HoldCo to pay 60% of annual profit as dividends

info

Published

on

By

Untitled design 43.jpg

MTN ADVERT

First HoldCo has shifted to a liberal dividend policy that seeks to distribute at least 60 per cent of its annual post-tax profit as dividends.

The board of directors of the bank holding company adopted the policy at a meeting on Tuesday, the group stated in a regulatory filing on Thursday, underscoring its resolve to prioritise shareholder returns over retaining most of its profits in the business to drive growth.

First HoldCo said the move highlights its directors’ confidence in its earnings capacity, enhanced capital position, improving asset quality, diversified revenue streams, and robust outlook for sustained profitability and growth. The move offers succour to shareholders who had to endure the last financial year without dividends—the first time in many years—after a massive bad-loan loss provision obliterated much of the cash that could have gone into rewarding shareholders.

The financial institution set aside ₦748.1 billion to cover problem loans on its books for 2025, after the Central Bank of Nigeria, in the spirit of international best practices, ordered lenders still carrying forbearance loans from the Covid-19 era to clear their balance sheets of toxic assets.

Profit for the year fell to ₦147.3 billion from ₦663.5 billion, following the provision.

PT WHATSAPP CHANNEL

“At First HoldCo, we decided to clean house properly. We took a huge one-time hit of ₦748 billion to admit old bad loans instead of pretending they do not exist,” Femi Otedola, the chairman of the banking group, said in January.

“That is why profit looks like it crashed by 92 per cent. A painful headline, but it is a serious long-term move,” he added.

Regulation also held back peers like United Bank for Africa and Access Holdings from distributing dividends to shareholders for the 2025 financial year on that score.

READ ALSO: Otedola acquires 1.78 billion First HoldCo shares, lifts stake to 26%

“Over the last two years, we have undertaken difficult but necessary actions to strengthen governance, clean up the balance sheet, restore confidence, rebuild capital, and reposition the group for long-term growth,” Mr Otedola said in the Thursday statement.

“We are now beginning to see the benefits of those strategic decisions. As performance continues to improve across our businesses, it is only appropriate that our shareholders participate more directly in the value being created.”

Revenue in the first half of 2026 rose 16.7 per cent to ₦1.9 trillion. Pre-tax profit ascended to ₦653.5 billion from ₦356.1 billion, while after-tax profit jumped to ₦526.3 billion from ₦283.8 billion.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading

Trending