Serious, Buy Naija Edition

Page 1

ECONOMY




|




HEALTH



|



TECHNOLOGY

Stocks
and
 Silhouettes -
Pascolo

Ajala
 Chronicles

-
Kaycee

Borrow
 Me
MB -
Delah


This
is
a
really
difficult
edition
because
we
spent
so
long
 reflecting
 on
 our
 journey.
 It's
 been
 2
 years
 since
 you
 opened
 your
 inboxes
 to
 our
 news
 and
 we
 feel
 like
 the
 economy
 hasn't
 changed
 much.
 If
 Eedris
 Abdulkareem
 released
his
song
about
Nigeria
now,
it
would
still
bang
based
 on
our
current
logistics.
This
made
us
sad
but
we
are
hopeful
 that
everything
good
will
come.
The
impact
of
covid
and
its
 scar
 is
 now
 being
 felt
 -
 unemployment
 higher,
 inflation
 higher,
 oil
 prices
 higher...
 Well
 what
 goes
 up
 must
 come
 down
and
in
this
edition,
we
travel
round
to
promote
buy
 Naija
to
grow
the
Naira
and
bring
you
all
the
economic
info
 you
 need
 to
 make
 sound
 financial
 decisions.
 Most
 importantly,
 we
 help
 you
 check
 whether
 MAG9
 are
 really
 drinking
your
money
or
they're
actually
contributing
to
wellbeing
by
connecting
us
to
the
world.

Thank
you
for
keeping
our
lights
on
by
reading
edition
after
 edition.
I
leave
you
with
my
inspiration
for
the
moment
and
I
 hope
it
propels
you
too
'You
don't
have
to
worry
and
don't
 you
be
afraid,
Joy
comes
in
the
morning,
troubles
they
don't
 last
always'.
 Love
always,

Lizzy,

You
won't
believe
that
all
what
 my
husband
sends
to
me
from
 abroad
now
comes
with
extra
money
 added
by
Sterling
bank...
Na
the
 money
I
just
go
withdraw
come
 now..Madam

Madame
Titi,

This
is
interesting
oo..I
need
 to
go
and
remind
my
younger
 brother
living
abroad
about
the
 Money
he
promised
me
oo..
 I
cannot
come
and
carry
last.


Stocks
and
Silhouettes

-
Pascolo I
See,
I
Saw

It
has
been
over
a
year
since
we
recorded
our
first
 case
of
COVID-19.
Over
161,000
cases
later,
we
 remember
the
lives
lost,
the
businesses
affected
 and
the
millions
of
lives
that
will
never
be
the
same
 again.
 We
have
adapted,
masks
have
become
an
essential
fashion
statement
 (side-eyeing
the
people
with
black
masks
feeling
like
they
are
better
 than
 everyone
 else)
 and
 looking
 back,
 we
 are
 grateful
 for
 the
 little
 things.
We
came
out
of
recession
(growing
at
0.11%;
small
but
mighty),
 got
 ourselves
 a
 Madam
 DG
 and
 our
 strawberries
 in
 Jos
 blossomed.
 However,
it's
not
like
everywhere
stew
because
tomato
paste
is
still
 ₦150,
sardine
is
now
₦400,
onion
is
turninoniown,
and
even
refuel
no
 dey
fuel.
Let's
not
even
talk
about
fuel
price
because
we
are
not
sure
of
 the
pump
price
anymore.
We
have
seen
inflation
hit
17.33%
and
Prof
 has
told
us
we
are
still
going
to
reach
20%
if
things
don't
change
(Oluwa
 epp).
Inflation
at
20%
means
if
your
salary
or
any
form
of
earning
does
 not
follow
the
trend,
well…let's
all
just
bless
God,
we
are
sha
alive.

The
Book
of
Job

Two
weeks
ago,
Bros.
Yemo
of
NBS
told
us
that
our
joblessness
rate
of
 33%
was
the
second
highest
in
the
world,
only
behind
Namibia
by
0.1%.
 So
 are
 the
 yoot
 really
 lazy,
 or
 work
 no
 dey
 because??
 With
 our
 joblessness
 rate
 already
 running
 on
 nitro,
 there
 is
 no
 doubt
 that
 COVID-19
only
made
matters
worse.
Even
though
oil
prices
passed
the
 $65
 per
 barrel
 mark,
 it's
 not
 enough
 to
 cover
 our
 high
 debts
 and
 government
expenses—side
eyeing
NASS
and
their
salaries.
We
hear
 that
we
are
owing
₦31
trillion
as
a
country
(Davido
thinks
he
is
BG,
TG
is
 bigger)
and
more
loans
are
coming.
These
are
trying
times,
you
sef
can
 borrow,
there
is
no
shame
in
 credit
especially
when
you
can
get
it
in
 less
than
five
minutes

Speaking
of
dollars,
na
stocks
dey
reign.
Financial
 freedom
 is
 essential,
 especially
 with
 the
 small
 waso
you
are
managing
to
save.
With
i-invest
you
 can
 own
 stocks
 in
 some
 of
 Nigeria’s
 biggest
 companies.
The
best
part,
you
only
neeed
shikini
 money.
 We
 know
 saving
 is
 hard
 considering
 high
 expenses
 and
 sapa,
 but
 because
man
must
spend,
go
to
PayWithSpecta.

You
will
be
able
to
 spend
and
still
live
the
baby
boy
life.

Wars
goin
on?

VS

The
most
extensive
vaccination
campaign
is
underway
globally,
and
 th Nigeria
 is
 not
 carrying
 last.
 On
 the
 4 
 of
 March,
 we
 received
 3.92
 million
 doses
 of
 the
 Oxford-AstraZeneca
 vaccines
 with
 a
 plan
 to
 vaccinate
20%
of
the
population
(Oluwa
count
us
worthy).
We
will
 probably
get
another
42
million
doses
soon;
we
are
glad
that
we
are
 slowly
and
steadily
winning
the
war
on
COVID-19.
We
at
Serious
have
 already
 received
 the
 first
 dose
 of
 the
 vaccine,
 seeing
 as
 we
 are
 frontline
workers
giving
you
much
needed
information.
Please
get
 vaccinated,
it
is
safe
and
free—don't
dull.

With
no
jobs
available,
all
of
us
have
now
become
vendors.
Please
buy
 what
we
are
selling
at
 AltMall.
Our
entrepreneurial
spirit
has
had
no
 choice
but
to
ginger
and
having
a
side-hustle
is
beginning
to
look
like
a
 necessary
hustle,
make
e
no
go
spoil.

Put
Your
Hands
on
Your
Dollars

Dollar
bonanza!
The
Emperor,
Sir
GodwinE,
recently
announced
the
4dollar
scheme
that
allows
you
to
get
 ₦5
for
every
dollar
sent
to
your
 account.
 So,
 for
 those
 with
 diaspora
 friends,
 now
 is
 the
 time
 to
 do
 bambiala
without
shame
(*winks*),
foreign
currency
exchange
rates
 are
still
at
an
all-time
high.
We
are
also
using
this
opportunity
to
thank
 the
god
of
fintechs,
the
one
who
has
blessed
us
with
foreign
remittance
 in
 high
 places.
 Flutterwave,
 TrybeOne
 and
 Paystack
 are
 showing
 us
 how
 to
 make
 cool
 dollars
 and
 address
 unemployment.
 The
 way
 forward
now
is
to
learn
coding,
do
dada
and
wear
turtleneck;
maga
no
 need
pay.

Snapshot,
Nigeria’s
Labor
Market,
Q4
2020 Q2
2020

27.1% Q4
2020

Employment
Rate

33.3%

Q4
Unemployment
Figures
 2016
-
2020

Q2
2020

Q4
2020

58.5M

46.48M

Total
Employed

21.76M

23.18M

Total
Unemployed

116.9M

122.04M

Working
Age

80.5M

69.67M

Labor
Force

12.57M 10.61M

20.92M

2017

2016

23.18M

17.67M

Unemployment
by
Gender

2018

2020

11.54M

Source:
RipplesNigeria

3


Still
on
wars,
we
are
at
a
standoff
with
NCC
and
the
 NIMC.
 They
 have
 shifted
 the
 deadline
 at
 least
 twice
now
for
SIM
registration
and
five
days
from
 now,
those
who
haven't
linked
their
NINs
to
their
 phone
number
risk
disconnection.
 Please
don't
choose
violence,
go
and
register.
Banks
and
Telcos
also
 attempted
a
mini-war
but
ogas
at
the
top
intervened,
pe
if
it's
joke,
let's
 all
stop
it.
Anyway,
just
add
like
₦7
to
your
expenditure
so
the
Telcos
can
 be
happy.
Now
that
I'm
thinking
sha,
may
I
only
be
a
recipient
of
alert
 and
not
a
sender
because
water
don
pass
garri.

The
US,
Twitter
and
the
rest
of
the
world
are
dealing
with
the
postTrump
presidency
(content
has
reduced);
Uncle
Biden,
however,
has
 continued
to
do
his
work.
We
hear
of
the
stimulus
package
for
every
US
 household
to
deal
with
the
impact
of
COVID-19
on
their
incomes,
just
 something
light
of
about
$1400.
We're
not
even
jealous. It's
Time
to
Explore Despite
 the
 high
 price
 of
 foodstuff
 and
 rice,
 we
 have
 had
 cause
 to
 celebrate
the
younger
generation
and
the
entertainment
industry
in
 Nigeria.
Gramophones
here
and
there
for
Machala
and
Odogwu,
some
 others
sang
in
a
Hollywood
movie;
all
wins.
Clearly,
talks
of
rebasing
 the
 economy
 couldn't
 have
 come
 at
 a
 better
 time.
 You
 see,
 before
 now,
 when
 GDP
 was
 calculated
 by
 Uncle
 Kale,
 it
 used
 the
 categorization
from
2010
based
on
the
most
viable
components
then.

A
rebasing
would
mean
that
more
viable
components
would
be
put
 into
 account
 and
 others
 will
 be
 removed.
 We
 expect
 more
 government
 focus-driven
 programs
 especially
 for
 the
 informal
 sector
as
rebasing
will
show
the
strength
of
the
sector.
If
this
is
done,
it
 could
 help
 reposition
 the
 economy
 and
 show
 the
 strength
 of
 the
 informal
industry.

The
year
is
in
full
gear,
and
despite
the
challenges,
 we
 are
 surviving.
 Regardless
 of
 the
 size
 of
 the
 difficulties
 we
 face,
 we
 will
 always
 find
 ways
 to
 thrive,
with
hard
work,
determination,
memes
and
 vibes.

Nobody
is
really
sure
of
how
things
will
turn
out
at
the
end
of
the
year
 but
like
in
past
editions,
we
are
here
to
tell
you
that
you
will
be
fine.
In
 the
 words
 of
 Charles
 Dickens,
 “reflect
 upon
 your
 present
 blessings—of
 which
 every
 man
 has
 many;
 not
 on
 your
 past
 misfortunes
of
which
all
men
have
some.
So
we
choose
to
reflect
on
 the
good
things...”


Ajala
Chronicles

-
Kaycee

Local
Man

My
name
is
Kaycee,
the
Sophisticated
Market
Man
and
over
the
next
 few
editions,
I
will
be
doing
a
trade
tour
with
the
very
awesome
Rural
 Rangers
to
help
you
guys
find
money
making
ventures
through
our
 discoveries.

At
Serious,
we
are
on
a
mission
to
make
Buy
Naija
great
again—if
we
 don't
look
inwards,
our
economy
will
not
develop.
We
are
pro-Nigeria
 here.
 Are
 you
 with
 me?
 (While
 our
 anthem
 is
 still
 “Japa
 Japa”
 and
 Canada
 is
 still
 the
 Nigerian
 dream,
 my
 brethren,
 we're
 happy
 for
 opportunities
to
spend
in
Naira
and
earn
in
Dollars). Adamawa
Sun
is
Not
Your
Mate!

Whether
you're
travelling
to
Adamawa
in
the
chilly
harmattan
breeze
of
 February
or
in
the
full
wrath
of
the
rainy
season
in
April,
keep
in
mind
 that
every
day
is
a
SUNday
in
the
Land
of
Beauty.
41°C
is
a
cold
day
in
 Yola.
While
average
sunshine
time
in
most
Nigerian
cities
is
between
 eight
to
ten
hours,
Adamawa
has
a
minimum
of
10
hours.
Even
with
the
 high
 sun
 intensity,
 only
 27%
 of
 the
 population
 have
 access
 to
 electricity,
and
even
less
(16%)
own
generators.

Well,
sunlight
isn't
the
only
wonder
of
the
state.
With
arable
land
of
over
 16,000
sq-km,
there
is
plenty
of
rice,
cattle,
and
of
course,
dry
fish,
 thanks
to
our
brothers
from
Cameroon.
We
visited
the
Mayo
Balwa
 Cattle
Market,
about
30
km
from
Yola
town.
We
were
amazed
at
how
 affordable
cattle
is.
We
were
even
told
that
they
could
be
bought
at
 cheaper
prices
in
Mubi
on
a
market
day.
As
a
parting
gift
from
the
cattle
 market,
we
got
suya
worth
4k
for
free!
Is
God
not
a
good
God?
We
have
 some
meat
cooking
for
you,
which
we
will
share
soon!

As
we
travelled
from
Yola
to
Numan
and
to
Mubi,
all
that
kept
playing
 in
my
head
was
Imperium!
Imperium!!
Imperium!!!
With
that
amount
 of
sun,
power
supply
should
be
a
constant
K.
We
left
after
about
a
 week
sha;
security
is
still
a
challenge,
but
the
business
opportunities
 there
are
great.

It's
a
Long
Walk
to

Freedom

Funtua.

You
know
how
you
get
up
from
your
bed
in
Lagos
and
decide
to
stroll
 into
Ibadan
or
Abeokuta
casually?
Well,
it's
OYO
when
travelling
in
the
 North.
While
there
is
no
traffic,
the
distance
is
long
oh,
walahi,
it
is
not
 a
small
something.
As
a
word
of
advice,
mind
what
you
eat
before
 embarking
on
such
trips
oh!
To
avoid
stories
that
touch.
Our
amebo
 set
us
on
course
to
the
headquarters
of
cotton
production—Funtua,
 Katsina
state.
Our
guide
kept
telling
us
how
close
it
was
from
Katsina
 until
we
had
done
almost
three
hours—no
traffic,
just
desert
land,
 Camels
and
vibes.

Apparently,
we
were
lucky,
going
from
Jalingo
to
Gembu
(both
within
 Taraba
state)
is
a
nine-hour
journey.
When
we
finally
arrived
in
Funtua,
 we
were
not
disappointed.
We
saw
cotton
in
all
its
glory
and
visited
 the
companies
that
process
cotton
end-to-end.
Cotton
production
 is
huge
in
Funtua,
which
is
the
bedrock
for
local
cotton
production
in
 Nigeria.
Yes!
Cotton
in
Nigeria.
Well,
you
now
know
your
plug
for
 original
Nigerian
Cotton—reach
out
to
us
Fair
Mall
for
a
great
deal. Every
Day
is
Not
“Market
Day”

Dear
City
People,
every
day
is
not
a
market
day.
We
learnt
this
the
hard
 way
when
we
visited
the
markets.
On
a
non-market
day,
it's
an
empty
 alley,
but
it's
OLIC
at
Agege
stadium
on
a
market
day.
Apart
from
the
 typical
sights
of
long
911
trailers
that
come
to
pick
up
farm
produce
 and
 other
 commodities,
 another
 wonderful
 thing
 is
 the
 massive
 volume
of
cash
that
exchanges
hands
on
a
market
day.
Money
no
dey
 Lagos,
it's
in
the
North.

On
 market
 days,
 products
 are
 incredibly
 cheap.
 This
 is
 because
 farmers
travel
from
far
distances
to
market
areas
to
sell
and
have
to
 return
to
their
homes
at
the
end
of
the
day;
they
have
little
or
no
 storage
 and
 need
 the
 returns.
 It
 is
 usually
 a
 beautiful
 sight
 to
 behold,
with
significant
bumper-to-bumper
and
high
cash
volume.

The
Thursday
Irish
potato
market
in
Bokkos,
Plateau
state,
is
a
good
 example.
 Can
 you
 guess
 how
 much
 we
 bought
 a
 bag
 of
 Irish
 potatoes?
Meet
me
privately
with
your
consultation
fee
on
Fairmall.

5


Everything
Grows
on
the
Plateau!

While
we
are
waiting
for
Canada
and
imagining
drinking
warm
tea
on
a
 cold
morning
in
London,
we
decided
to
rehearse
with
the
unique
Jos
 weather,
sipping
on
a
cup
of
fine-black
local
coffee.
For
anybody
that
 has
been
to
J-town,
you
know
there
is
no
place
like
Jos.
That's
why
it
is
 called
 the
 Home
 of
 Peace
 and
 Tourism.
 From
 the
 warmth
 and
 hospitality,
the
beautiful
weather,
the
fantastic
view;
Jos
is
the
go-to
 place
for
cruise.
We
visited
Vom,
where
we
saw
the
famous
fresh
red
 juicy
strawberries
that
Bashir
bragged
about,
the
beautiful
plantations
 and
hardworking
farmers.
We
also
visited
Barkin
Ladi
and
Bokkos.

We
are
convinced
that
Jos
is
home
to
the
most
exotic
of
fruits.
From
 broccoli,
cucumber,
carrot
and
celery,
to
green
peas,
Irish
potatoes
 and
cauliflower—all
you
need
for
your
stir-fry
pasta.
The
good
news
 is
that
you
can
enjoy
the
best
of
Jos
without
going
to
Jos
through
 Fairmall
 It
All
Begins
and
Ends
with
“Sanu.”

Kano
is
one
of
the
most
ancient
cities
in
Nigeria.
It
is
famous
for
many
 things,
including
its
beautiful
architecture
and
cultural
heritage
(visit
 the
Emir's
palace
or
a
Durbar
festival;
I
beg
of
you).
It
is
called
the
centre
 of
commerce
due
to
its
ancient
markets.
Kurmi
market,
for
example,
 existed
before
Nigeria's
amalgamation,
and
today,
the
sixteen-hectare
 market
is
still
one
of
the
largest
markets
in
the
country.
Your
fastest
 trick
 for
 navigation
 is
 to
 learn
 “sanu”
 in
 Kano,
 or
 else
 you
 will
 find
 yourself
in
OYO.
Kurmi
market
is
reputed
to
have
everything
money
 can
buy,
from
strong
perfumes
(who
is
Creed?),
incense,
gold,
original
 leather
 bags,
 mats,
 sculptures,
 local
 textiles,
 raffia,
 spices
 and
 traditional
medicine—Kurmi
has
it
all!

A
new
digital banking
 experience! Open
an
account
to
transact,
 save,invest,
borrow
and
earn

OneBank

It
looks
like
we've
covered
a
lot,
but
we
haven't
even
scratched
the
 surface
of
opportunities
in
Nigeria.
Nigeria
is
beautiful,
na
Boko
wan
 spoil
 am.
 But
 we
 are
 glad
 to
 show
 that
 Nigeria
 is
 very
 viable
 for
 business,
even
in
the
most
remote
of
locales.
It's
not
all
of
us
that
can
 go
to
Canada,
so
do
with
this
information
what
you
will
(*winks*).

6


Introducing

TrybeOne

A
community
that
intersects
between
pop
 culture
and
finance,
a
world
where
you
live
 on
your
terms
and
you
are
free
to
be
anyone
 you
want
to
be.

Earn.
Learn.
Fun

Follow
us


Borrow
Me
MB

-
Delah

Internet
of
Nothing

Nothing
 is
 as
 frustrating
 as
 getting
 a
 text
 that
 your
 data
 has
 been
 exhausted.
In
Nigeria,
it
could
be
4GB
that
was
supposed
to
last
a
 whole
month
but
finished
after
streaming
Namaste
Wahala
or
10GB
 that
cost
you
 ₦5,000.
Either
way,
as
in
a
case
of
what
I
ordered
vs.
 what
I
got,
MB
seems
to
be
finishing
faster
than
the
connection
speed
 suggests.

In
today's
new
reality
and
with
the
growth
of
the
 global
digital
economy,
access
to
the
internet
has
 become
a
necessity,
unlike
a
few
years
ago
when
 it
used
to
be
a
luxury.
Today,
we
need
the
internet
 to
 do
 everything;
 from
 mobile
 transfers,
 social
 media
networking,
virtual
conferences
and
even
 classes
for
kids.
Despite
the
increased
demand,
it
 looks
like
reliability
is
still
missing
in
the
dictionary
 of
network
providers.

estimates
that
the
cost
of
1GB
of
data
in
Nigeria
is
the
equivalent
of
1.7%
 of
the
average
monthly
income
in
Nigeria,
3.10%
in
Kenya,
and
26.24%
 of
average
income
in
the
Democratic
Republic
of
Congo.
Imagine
if
I
 were
Congolese
and
working
from
home,
Heii
God!

So,
if
pricing
isn't
our
problem
and
our
village
people
can't
access
the
 internet,
what
is
the
issue?
In
truth,
the
average
cost
of
internet
access
 should
 be
 cheaper
 for
 Nigerians
 due
 to
 the
 sheer
 size
 of
 our
 population,
and
whatever
costs
are
incurred
in
providing
good
internet
 service
can
easily
be
spread
across
millions
of
customers
(150
million
 subscriptions
at
the
end
of
2020).

Counting
the
Cost

The
high
cost
of
internet
access
in
Nigeria
is
mainly
attributed
to
the
 cost
 of
 infrastructure.
 From
 licensing
 to
 equipment,
 rent
 and
 maintenance,
ensuring
coverage
in
such
a
landmass
(927,000
sq-km),
 is
such
a
mega
business.
Like
every
other
business
in
Nigeria,
you
also
 have
to
deal
with
regulators
and
inconsistent
policies.
For
instance,
the
 National
Executive
Council
(NEC)
in
2013
resolved
to
bring
Right
of
 Way
 (RoW)
 (something
 light
 to
 pay
 for
 passing
 cable
 in
 your
 area)
 charges
to
a
uniform
price
of
₦145
per
metre.
Seven
whole
years
later,
 Ekiti
State
was
the
first
to
wake
up
to
review
its
charges,
giving
ginger
to
 five
 other
 states,
 which
 reduced
 their
 charges
 and,
 in
 the
 case
 of
 Anambra,
completely
waived
the
RoW
charge.

This
is
one
of
the
reasons
internet
access
is
expensive.
Imagine
paying
 ₦725
million
to
lay
cables
over
5,000
km.
This
does
not
include
the
 cost
of
the
cables
or
the
workmanship.
Sadly,
there
are
still
many
states
 like
 Lagos,
 Kano,
 Kaduna,
 Enugu,
 Imo,
 Ondo
 and
 Cross
 River,
 who
 instead
hiked
their
charges,
with
some
as
high
as
N6,000
per
metre.
 Did
I
hear
you
say
Oliver…?

Looking
at
how
much
the
service
providers
spend,
plus
the
famous
 9,800
 km
 submarine
 cable
 from
 the
 UK
 to
 Nigeria,
 it
 is
 clear
 why
 internet
access
is
expensive,
na
because
providing
it
dey
choke.

Shey
Na
Like
This
We
Go
Dey?

In
many
rural
areas,
internet
connectivity
is
almost
as
unavailable
as
 the
 dollar
 is
 to
 the
 common
 man.
 For
 over
 150
 million
 Nigerian
 internet
subscribers
who
are
mostly
in
the
cities,
the
average
internet
 speed
 is
 about
 15Mbps
 (below
 the
 global
 standard
 of
 35Mbps)
 according
 to
 the
 Hootsuite;
 to
 get
 faster
 speeds,
 you
 have
 to
 pay
 through
your
nose.
But
I
started
thinking
recently,is
the
cost
of
a
data
 subscription
really
too
high
or
na
me
no
too
get
money?

Is
the
Internet
Racist?

It
is
commonly
believed
that
access
to
the
internet
is
most
unstable
 and
expensive
in
Africa.
As
a
lady
of
the
law,
I
was
hoping
that
I
could
 take
some
people
to
court
sha
as
per,
no
fairness
in
pricing—I
digress.
 Anyway,
I
took
a
mega
dive
to
analyse
the
cost
of
the
internet
around
 the
 world.
 According
 to
 research
 by
 the
 Alliance
 for
 Affordable
 Internet
(A4AI),
the
average
cost
of
accessing
the
internet
is
$5.04
per
 GB
 globally.
 For
 North
 Africa,
 it's
 as
 low
 as
 $2.06
 and
 $6.91
 per
 gigabyte
(GB)
in
Sub-Saharan
Africa.

A
study
conducted
in
2019
by
UK-based
broadband
research
firm,
 Cable,
showed
that
the
giant
of
Africa
ranked
44th
globally
(out
of
230
 countries)
in
cost
of
internet
connectivity
at
a
national
average
cost
of
 $2.22
/GB.
When
compared
to
fellow
developing
nations
like
India
 and
 Argentina,
 with
 $0.09/GB
 and
 $1.45/GB,
 respectively,
 the
 situation
looks
pretty
terrible.
However,
a
peep
at
other
developed
 countries
shows
that
the
cost
of
internet
access
is
even
higher,
at
 $12.55/GB
in
Trudeau's
republic
and
$5.28/GB
in
Norway.
Clearly,
the
 high
cost
of
internet
access
is
not
just
an
African
problem.

Contrary
to
the
belief
that
MB
is
expensive,
Nigeria
 is
actually
not
doing
too
badly
when
compared
with
 many
other
countries
where
the
grass
is
“greener”.
 Current
 trends
 worldwide
 signify
 that
 the
 cost
 of
 internet
access
will
continue
to
rise
within
the
next
 few
 years
 because
 of
 the
 constant
 upgrades
 required
 to
 provide
 internet
 connectivity.
 But
 seeing
as
most
of
us
are
broke,
we
need
a
solution. What
 we
 need
 to
 reduce
 cost
 is
 easy:
 solve
 power
 and
 regulatory
 constraints,
 then
 encourage
 new
 competition.
 On
 healthy
 competition,
our
dear
millennials
can
tell
you
when
SIM
cards
were
 almost
₦40,000,
but
look
at
us
now!
 
In
2019,
we
heard
that
service
 providers
were
spending
₦180
million
per
day
on
generators
alone,
the
 power
cost
alone
takes
almost
10%
off
total
expense.

For
environments
like
Africa,
our
governments
must
play
their
role
to
 ensure
a
transparent
and
progressive
regulatory
environment
with
fair
 rules
to
encourage
more
businesses.
More
favourable
policies
could
 see
a
25%
reduction
in
expenditure.

On
the
other
hand,
data
from
our
continental
neighbours
shows
that
 Nigeria
is
doing
far
better
than
Chad
at
$13.6/GB,
Equatorial
Guinea
at
 $35.47/
 GB,
 and
 even
 South
 Africa
 at
 $7.90/GB.
 Further
 research

8



Thank
You!

I
hope
you
enjoyed
being
 ‘Serious.’
Always
remember,
 Never
share
your
personal
 details
with
anyone.
Be
safe!


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