" ITREALMS: Mobile Money transactions hit $600m says Johnson

Monday, October 06, 2014

Mobile Money transactions hit $600m says Johnson

Minister of Communication Technology, Dr Mrs Omobola Johnson has said that the country has witnessed an upsurge in mobile money transactions, insisting that Nigeria could actualise the National Broadband Plan to increase penetration rate from six per cent to 30 per cent by 2018, reports ITRealms.

The CommTech minister made this disclosure while speaking at the Pat Utomi Center for Values and Leadership celebration of the ICT sector, noted that 11 million transactions worth $600 million have been recorded under the mobile money platform.

According to her, the mobile money platform has an estimated one million subscribers under 18 mobile money operators and 67,000 registered agent.

On broadband penetration in the country, Johnson stressed that facilitating increased investments in ICT infrastructure, spectrum auctions, regional Infrastructure (fibre) companies (Infracos), Smart States initiative (to reduce cost of infrastructure deployment) were some of the priorities set by her ministry to raise 3G/LTE Wireless Broadband Coverage to 80 per cent of Nigeria’s population; and Fixed broadband to 16 per cent of population based on fibre by 2018.

“More people in Nigeria have a mobile phone than have a bank account. 75 per cent of adults living in urban areas and 39 per cent of them living in rural areas have access to a pre-paid mobile phone. 18 Mobile Money operators have been registered in Nigeria and since the commencement of operations, there are approximately 1 million subscribers, about 67,000 registered agents and Over 11 million transactions worth US$600 million have been conducted,” she said.

Chukwudi Obi

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