General
Flutterwave, MTN Nigeria, Bolt Outpace Competitors in Media Engagement
Despite Nigeria’s prevailing economic difficulties, including heightened inflation and increasing operational costs, the fintech, telecommunications, and ride-hailing industries have maintained a robust media presence and public awareness footprint. This sustained success is attributed to strategic media relations, effective marketing campaigns, and the impressive data shared with the media during Q3 2024, which collectively bolstered public perception and instilled confidence in these sectors.
An in-depth media performance analysis conducted by P+ Measurement Services, Nigeria’s leading media intelligence and PR audit agency, tracked and audited media coverage of these sectors across both online and print platforms. The agency monitored over 1.3 million online publications—spanning blogs, branded publications, forums, and global news sources—alongside approximately 5,115 print publications, including daily, weekly, and monthly editions. This comprehensive tracking enabled P+ Measurement Services to extract key PR metrics, such as sentiment analysis of reporters, editors, publishers, and opinion leaders, CEO performance assessments, spokesperson analysis, and overall topic prominence.
Key Insights from Q3 Media Performance Audit
Fintech Sector
The audit examined eight fintech companies, highlighting their competitive dynamics through extensive media tracking. Flutterwave emerged as the frontrunner, capturing a significant 42% share of total media coverage, largely driven by the expansion of its SEND App Remittance Service to 49 U.S. states. This reflects Flutterwave’s strong media strategy, showcasing its influence and outreach. Following Flutterwave, Moniepoint attained a 29% share, propelled by its announcement of new security features to enhance customer protection. Opay held 20% of the media share, supported by its introduction of a Night Guard feature, while Kuda trailed with a 9% share, indicating lower media engagement despite its growing customer base. These results emphasize the competitive nature within the fintech sector, with Flutterwave’s proactive strategies setting the standard for media prominence.
Telecommunications Sector
In telecommunications, MTN Nigeria dominated, achieving a 49% share of media coverage, significantly driven by the extension of its tower lease agreements with IHS Nigeria until 2032. This reinforced MTN’s position as a market leader with a consistent and strategic media approach. Globacom followed with a 21% share, its visibility amplified by its partnership with the Lagos State Government on the M-Agric Lottery Service, aimed at food sufficiency. In contrast, Airtel Nigeria and 9mobile registered 15% each in media coverage, highlighting the disparity in media engagement. MTN’s consistent and dominant media profile underscores its established influence and proactive communications strategy.
Ride-Hailing Sector
Among the ride-hailing companies analyzed, Bolt Nigeria stood out, securing 51% of media exposure due to its proactive measures, such as introducing an optional verification feature for riders in Nigeria. InDrive followed with 29%, driven by its celebration of achieving 5 billion deals, while Uber Nigeria secured 19%. Rida Nigeria lagged significantly with just 1% media visibility. The variance in coverage reveals differing levels of media engagement and strategic media presence within the ride-hailing industry, with Bolt Nigeria clearly outperforming its competitors.
Comparative Analysis: Sector Disparities and Strategic Implications
The analysis draws attention to the concentration of media prominence within a select number of leading brands across the fintech, telecommunications, and ride-hailing sectors. This trend highlights the critical role of strategic media management, where top brands such as Flutterwave, MTN Nigeria, and Bolt Nigeria have effectively leveraged media relations to sustain strong public profiles, reinforcing their market dominance and credibility.
The disparity in media engagement across sectors further emphasizes the varying levels of success in deploying tailored PR and communications strategies. In a rapidly evolving digital landscape, maintaining consistent and strategic media visibility is crucial for brands seeking to remain competitive and relevant, especially within Nigeria’s dynamic business environment.
General
CDHR President Tackles NLC Over Proposed Telecom Tariff Hike Protest
By Emmanuel Udom
The President of the Committee for the Defense of Human Rights (CDHR), Mr Debo Adeniran, on Thursday in Lagos, has described the forthcoming nationwide mass rally planned by the Nigeria Labour Congress (NLC) as a right move but happening at a wrong time.
Speaking during the citizen’s accountability forum on the state of the nation at Rights House in Ikeja, Lagos, Mr Adeniran said the labour union could have embarked on the rally when President Bola Tinubu announced the withdrawal of fuel subsidy.
Recall that the NLC asked its affiliates across the nation to embark on a nationwide protest on Tuesday, February 4, 2025, to kick against the 50 per cent telecom tariff increase approved by the Nigerian Communications Commission (NCC) on January 20, 2025, the first of such since 2013.
The leader of the union, Mr Joe Ajaero, who made this announcement, said the decision was taken at an emergency meeting convened by the group’s National Administrative Council (NAC) on Wednesday.
The NLC said the rally would serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000; a population that has suffered outrageous hike in the price of petrol, high cost of food, hike in electricity tariff and general rising inflation.
It called on all Nigerian workers as well as the informal sector and the general public to stand in solidarity against what it termed unjust policy, saying the NAC-in-session totally rejected the 50 per cent hike which it considers as too harsh for citizens.
“It therefore strongly condemns the Nigeria Communications Commission’s decision to approve the increase in telecommunications tariffs.
“This decision is insensitive, unjustifiable, and a direct assault on Nigerian workers and the general populace, who are already burdened by worsening economic hardship foisted on them by Policies of government which was no fault of theirs,” the union said, demanding an immediate suspension of the 50 per cent tariff hike.
It also called on the federal government, the NCC, and the National Assembly to engage in meaningful dialogue with critical stakeholders to review the proposed tariff adjustment within the context of the economic realities facing Nigerians.
“We will not relent in our struggle against policies that undermine the welfare and dignity of our people. Nigerian workers and citizens must unite and take action to prevent further economic oppression.
“We must resist any policy that prioritizes corporate profits over the well-being of the people,” the union added.
In his reaction, Mr Adeniran argued that the desired impart the labour union was trying to make with the planned nationwide rally may not be effective as some Nigerians were already overburdened and stress out by the many seemingly dictatorial policies and moves of the present government.
He praised President Tinubu for his tax reform move, describing it as pro-people, saying the poor will breathe this time around when implemented.
General
Anxiety Over Bento’s Future as Ebun Okubanjo Resigns as CEO
By Adedapo Adesanya
There are fears that the future may be bleak for Nigerian payroll and human resource management platform, Bento, as its embattled chief executive, Mr Ekun Okubanjo resigned from the company.
Mr Okubanjo, who has been no stranger to controversies, announced his resignation in an email to Bento’s board of directors and relinquished his equity and debt holdings in the company.
This comes amid allegations of financial mismanagement, particularly regarding the withholding of employee taxes and pension contributions, which is reportedly being investigated by the Economic and Financial Crimes Commission (EFCC) and the Lagos Inland Revenue Service (LIRS).
Last week, Mr Akintunde Sultan, co-founder of edtech company, AltSchool, in a series of tweets alleged that the company was not remitting personal income taxes into the coffers of the state.
Another allegation was reportedly brought by Fuelmetrics, a digital inventory management firm for petrol stations, which alleged that Bento Africa had failed to remit up to N50 million in taxes and pension contributions since 2023.
In his resignation to the Bento board, Mr Okubanjo admitted the company was struggling since last year due to the challenges associated with the operating environment, adding the last episode- referring to the allegations- was the final straw.
He also said his resignation preceded the allegations, asking the board to find a replacement about three weeks ago.
He also signalled to investors that the allegations were from his close competitors in the HR management tech platform space.
Mr Okubanjo, speaking on the future of the company, admitted the challenges, particularly in Nigeria, Rwanda, and Ghana.
“Someone should take it, rebrand it, it is actually a pretty rad product but it’s time for a new slang. I release all my equity and debt,” quotations from his message to investors seen by this newspaper said.
Mr Okubanjo, who initially stepped down after a Tech Cabal investigation revealed the company’s toxic work environment, regained the mantle of the firm after his co-founder, Mr Chidozie Okonkwo resigned from the position, citing personal reasons.
The entrepreneur will now transition back to the US and will be looking to compete in the Artificial Intelligence (AI) space.
General
Onwuka Calls for Dredging of Rivers Port
By Bon Peters
One of the aspirants for the chairmanship position of Area 1 chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Mr Emmanuel Ebere Onwuka, has called for the dredging of Rivers Port.
In a chat with journalists on Port Harcourt, Mr Onwuka said the shallow draft of the Rivers Port channel was affecting the number of vessels calling at the ports.
According to him, Rivers Port can only accommodate lighter vessels, especially those carrying bulk instead of big vessels with containerized Cargoes.
Mr Onwuka who scored Rivers Port location high, wondered why the government has not deemed it fit to dredge the port and improve port facilities like the expansion of port access road and other infrastructures.
“The location of this Port is good, banks are close here, in short most of the things we need to ensure a seamless maritime business is here but government is busy talking of developing Lekki Port, Badagry Port and others instead of improving on the one our fore fathers handed over to us.
“I am not against them developing new ports, but the Ministry of Marine and Blue economy should look towards this direction,” he submitted.
Continuing, Mr Onwuka said, “Apart from the expansion done around the Qay areas by Port and Terminal Management Company, this port, which is a premier port, has been like that over the years.
“The other day, I went to Onne to clear a container, which ordinarily should have been here, imagine before the consignment could reach its destination, most of the items like glasses have broken into pieces due to bad road.
“The government should help us and by so doing, the federal government would boost its revenue generation base.”
Emphasizing on what he intends to do if elected, he said, “We will market the port actively with other stakeholders.”
Speaking on how he intends to achieve this, he said, “We will engage all the relevant stakeholders like Manufacturers Association of Nigeria (MAN), the Port Harcourt Chamber of Commerce, the Mines Industry and Agriculture (PHCCIMA), importers and shipping companies, among others.
“My team, the idealists, will make sure this facility works effectively. As we are marketing this port, we will market Ibeto Port because it is part of Area 1 and has modern facilities and a massive stacking area.
“We will go to Nnewi, Onitsha and Aba to canvas for importers to come. We will tell them why it is better to import through the Rivers Port instead of Lagos.
“Shipping companies will start to bring their vessels here; we must achieve that for the betterment of our members in particular and Nigeria in general,” Mr Onwuka insisted.
Piqued by the activities of some recalcitrant traders, who are bent to sabotage the efforts of the government agencies at the ports, especially the Nigeria Customs Service (NCS) by engaging in an unwholesome trade, Mr Onwuka, who is currently the Vice Chairman of ANLCA Area 1, said, “We are compliance association and due process business men” and even to the extent that my colleagues see my office as CPC.”
“I told you I am a due process and compliance agent. We will enhance our relationship with the customs and other government agencies at the port to ensure agents comply with the fiscal policies of the federal government,” he added.
On his prospect of winning the election next month, he said, “Our team has done everything that needed to be done for us to emerge as the next chapter executive of ANLCA Area1 Port Harcourt.
“Let me advise our members, they should not vote for somebody that they will regret in future. We have integrity and accessibility. We are here 24/7 at the Port and we are ready to work.”
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