INDUSTRY
Following Union Protests, Spotify Denies Demand for Penny-Per-Stream Payment
After months of campaigning for major changes to Spotify’s streaming model, the Union of Musicians and Allied Workers (UMAW) recently announced the streaming platform’s denial of their cornerstone demand: a penny per stream royalty agreement for all artists. According to Digital Music News, the update follows a series of worldwide protests on March 15th, hosted outside the Spotify offices in 15 cities. In addition to increased royalty payments, UMAW is also fighting for transparency in the company’s practices, especially for algorithms for playlist placement. “Spotify is the most dominant platform on the music streaming market,” UMAW’s website reads. The company’s premium subscription numbers topped 150 million in Fe...
CPN president: Digital technologies efficient in sustaining social, economic development
The President and Chairman of the Council of Computer Professionals (Registration Council of Nigeria), Professor Charles Uwadia, has disclosed that digital technologies have proven to be efficient in sustaining social and economic developments. According to him, during the COVID-19 pandemic, digital technologies played an indispensable role in sustaining social and economic activities. He said though challenges and risks also emerged in the course of embracing various digital innovations but its applicability were proven to be efficient. Uwadia, who spoke at a virtual press conference, to unveil activities lined up for the forthcoming 2020 IT Professionals’ Assembly, with the theme, “Harnessing Digital Technologies for Social and Economic Recovery”, said the assembly which is the 15th edit...
Dr. Luke’s Prescription Songs Company Offers Songwriters Bitcoin As Compensation Option
Dr. Luke‘s publishing company, Prescription Songs, has announced that songwriters will have the ability to receive royalty payments in Bitcoin going forward. The organization took to social media today to announce the groundbreaking move, stating that they are the first publishing company to offer its creators such a compensation option. According to the producer, the idea soon became a no-brainer after multiple creators began inquiring about the possibility of being paid in Bitcoin. The transactions will be conducted by bitcoin payment services provider, Bitpay, according to Digital Music News. “Prescription Songs has always been an industry leader providing the best services to our songwriters, producers and artists,” Dr. Luke said in a statement. “Some of our cre...
DPR: Market forces should determine gas prices
File Photo The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. According to him, the levers include availability, accessibility, a...
OPEC: Gas is vital to Nigeria’s future
The Organisation of Petroleum Exporting Countries (OPEC) says gas remains vital to Nigeria’s future in the global oil and gas sector. The OPEC Secretary General, Mohammad Barkindo, disclosed this on Monday in Abuja, at the pre-summit conference on “Decade of Gas”. He said that the move of the country to develop its huge gas deposit was a step in the right direction. “Gas is vital to Nigeria’s future, as is oil, and both will be fuels of choice globally for the foreseeable future and instrumental in facilitating the energy transition,” he said. The secretary-general said that the ‘Decade of Gas’ from 2021 to 2030 was likely to place Nigeria at the forefront of the vital global industry. Barkindo commended President Muhammadu Buhari’s effort as Head of Nigeria’s Delegation to OPEC, in the or...
Minister tasks NSDC boss on ensuring self-sufficiency in sugar production
Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, has tasked the newly appointed Executive Secretary of the National sugar Development Council (NSDC), Zach Adedeji to work towards the realisation of the Federal Government’s goal in ensuring self-sufficiency in sugar production. Speaking at the inauguration of Adedeji as the Chief Executive Officer of the NSDC at the weekend in Abuja, Adebayo said the Federal Government relied on him to work assiduously towards the realisation of the country’s self sufficiency in the sugar production. He noted that the appointment of Adedeji was based on his performance in his former positions, adding that the nation expected him to leave landmark achievements by the time he would be leaving office. “You are therefore expected to discharge...
EFCC warn POS operators over illegal cash transaction
The Economic and Financial Crimes Commission, EFCC, recently warned operators of Mobile Money and Banks Agents otherwise known as POS operators over illegal cash transactions. The Commission’s Zonal Head in Sokoto CDS Bawa Usman Kaltungo on Thursday March 25, 2021 gave the warning at a meeting with the Sokoto Chapter of Mobile Money and Banks Agents Association, (MMBA) Sokoto State Chapter in his office. EFCC boss express concern at the high rate of mobile money fraud in the country, and called on the association to join hands in the fight against money laundering and electronic transaction fraud. But while reacting to this, the South West coordinator of Moniepoint, Israel Eniolorunda frowned at this development noting that nefarious activities of many of these POS operators in the country...
Nigerian government mulls TCN’s unbundling, partial concession to boost power supply
The federal government is considering the unbundling and partial concession of the Transmission Company of Nigeria (TCN) to boost its efficiency in the government’s bid to improve power supply. Director, Energy, Bureau of Public Enterprises (BPE), Mr. Yunana Malo, said during the March edition of “the Electricity Hub” conversation series on power that the National Council on Privatisation (NCP) had directed that a proper strategy should be mapped out for the unbundling of TCN. He stated that the government believed that all the players in the energy value chain should be able to align with the needs of the power sector seamlessly, adding that the right environment is being created for the transmission component to match generation and distribution. Malo said data was key to making decision...
John Vitti, CEO of VersusGame, on How Content Creators Can Take Advantage of the Gaming Economy
This story was co-authored with Amanda Montgomery and Hannah O. Following the onset of the global COVID-19 pandemic, the gaming economy exploded as people searched for new forms of entertainment. According to GamesIndustry.biz, the global gaming market reached a value of $174.9 billion in 2020, representing a 19.6% year-over-year increase. John Vitti, CEO of VersusGame, noticed that despite this growth, the prediction marketplace was still waiting to be fully tapped into. Seeing the next big opportunity in gaming, Vitti “wanted to create something everyone could be a part of and everyone could profit from,” he told EDM.com. With that idea in mind, Vitti built VersusGame, a prediction-based mobile gaming app where users can earn money simply for being right. Players can use virt...
NIWE advocates partnership to address Nigeria’s water challenges
File Photo The Nigerian Institution of Water Engineers (NIWE) has sought for effective partnership between all levels of government and relevant stakeholders to resolve Nigeria’s water challenges especially in the rural areas. Chairman of NIWE, Abuja chapter, Engr Douglas Oloton stated this in Abuja yesterday at a talent hunt organised by the chapter to commemorate the 2021 World Water Day (WWD), with the theme, “Valuing Water”. He noted that population explosion, climate change, high demand on industry and agriculture is threatening the limited water resources, saying that water makes up 60 percent of human body and its fundamental for human, social and economic development. Oloton quoted the United Nations as saying that WWD raises awareness of the 2.2 billion people living without acces...
Lagos governor: We are ready to domesticate AfCFTA agreement
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
Senate considers bill to unbundle NIPOST
The Senate has commenced moves to unbundle the Nigerian Postal Service with the consideration of a bill to repeal and re-enact the Nigerian Postal Service Act 2004. The bill which scaled second reading on Tuesday was sponsored by Senator Oluremi Tinubu (APC, Lagos Central). Leading the debate on the general principles of the bill, Tinubu said the piece of legislation seeks a reform of the Postal Industry and to make Comprehensive Provisions for the Development and Regulation of Postal Services in Nigeria. According to the lawmaker, the Nigerian Postal Service (NIPOST) which dates as far back as 1852, evolved from an exigency of the colonial administration to a Collection Office of the United Kingdom and eventually, to the NIPOST. She recalled that as at 1st of October, 1960, when Nigeria g...
