Connect with us

News

PayU moves to connect businesses to N200bn online payment market.

Published

on

PayU has rolled out strategies to intensify efforts to connect businesses to Nigeria’s online payment market. Annual online payments in Nigeria is estimated to surpass N200 billion this year from N167 billion in 2016.

Country Manager of PayU Nigeria, Ms Juliet Nwanguma,  says, “In order to pursue PayU’s aggressive expansion in the online payment market in Nigeria, we have identified businesses that can benefit from our  global expertise across 16 markets where we offer over 250 payment options.”

With over 2.3 billion users world-wide, PayU is confident it can help businesses grow their market share and help them to achieve their business objectives.

Data recently released by the Nigeria Interbank Settlement System (NIBSS) showed that 5.5 million transactions worth N46.7 billion were generated through online sales in the first quarter of 2017. This is an increase in the quarterly average of 3.5 million transactions worth N33 billion in 2016. This 58% growth is a clear indication of the increased confidence and preference for online sales amongst Nigerians.

The double digit growth, according to Nwanguma, is far below the potential of the market for online payments in Nigeria.

We have identified businesses that can benefit from our global expertise across 16 markets where we offer over 250 payment options

Nwanguma noted that in a country of over 180 million people, consisting of 61 million active bank customers and where e-payment transactions are worth N56 trillion in a year, the potential for online payments in Nigeria is huge and waiting to be tapped.

She disclosed that the mission of PayU is to leverage on Nigeria’s 97 million active internet users to popularise and increase online payments in Nigeria.

“At PayU, we believe that with the deployment of appropriate strategies and products which are designed to encourage more businesses to adopt online payment, the market in Nigeria can record triple digit growth in both volume and value of online payments. This is the driving philosophy of PayU’s operations in Nigeria” she said.

Since last year when we entered the Nigerian market, we have used our globally tested products such as tokenisation, recurring payments for subscription services and single click payments for faster checkout. Our range of services according to different business categories especially the PayU Easy service allows start-ups to start selling online instantly without the need of a bank account or trading history. ”

“PayU has succeeded in successfully assisting small, medium and large organisations with their online payments. In particular, the robust and flexible features of PayU Plus and PayU Enterprise have assisted merchants to grow and expand their online payment business.”

PayU offers merchants safe, secure, online shopping.  Their products are   PCI DSS Level 1 compliant which mean they are required to meet extremely stringent security criteria. All card details are secured by secure socket layer (SSL) and transfer layer security (TLS) encryption and reinforced through various encryption processes in order to provide protection for all payment information.   They also are 3D secure enabled which gives consumers added security when shopping online.

The increased preference for online payments among Nigerians offers new opportunity for businesses to increase patronage and grow revenue.

The global expertise of PayU, combined with its easy-to-use and secure online products provide the channel to leverage on this opportunity and achieve business objectives.

Comments

News

Oyo South: Oseni Supports Apete Widows With N10m, Promises More Interventions

Published

on

 

The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has supported widows from Apete, Awotan and neighbouring communities in Ido Local Government Area of Oyo State with N10m, promising more interventions to improve their welfare and livelihoods.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives and chairs the House Committee on the Federal Road Maintenance Agency, made the donation on Tuesday during an interaction with hundreds of widows at Awotan, Ibadan.

The meeting was part of his ongoing consultations across Oyo South ahead of the 2027 general elections.

Speaking at the event, Oseni said his support for widows, market women and other vulnerable members of society was not driven solely by politics, but by his personal conviction and faith.

According to him, his own experience of growing up under difficult circumstances had strengthened his resolve to support people facing hardship.

He said, “The more I give, the more God blesses me. I pray every day that God should give me more so that I can give more to society. My joy is to see people happy.”

Oseni also assured the women that he would continue to support initiatives aimed at improving their welfare, while urging them to remain active in their communities and engage other residents on issues affecting their lives.

He encouraged the women to take the message to the grassroots through house-to-house and street-to-street engagement, including interactions with market women, artisans and youths.

The lawmaker also solicited support for President Bola Ahmed Tinubu’s Renewed Hope Agenda and other APC candidates ahead of the 2027 elections.

Earlier, the coordinator of the widows, Mrs Comfort Adedeji, said widows should not be regarded as helpless, noting that many of them had continued to provide for their families despite the loss of their husbands.

Adedeji described the women as mothers, caregivers, traders, farmers and workers who had continued to shoulder the responsibilities of their households.

She commended Oseni for what she described as his support for the women and appealed to him and other stakeholders to pay greater attention to widows through empowerment programmes, skills acquisition, financial assistance and educational support for their children.

She said supporting widows was effectively an investment in entire families because of the responsibilities they carried.

“When you empower a widow, you are not helping only one woman; you are helping an entire family and securing the future of her children,” she said.

The women expressed appreciation for the intervention and urged the lawmaker to sustain support for them, particularly in areas of business development and livelihood assistance.

Continue Reading

News

‎OYO 2027: ‘Fact-Check Always’ – Oseni’s Aide Replies Ex-AGF , Ojo Over Alli’s Campaign Billboard Claims

Published

on

The media aide to the All Progressives Congress (APC) senatorial candidate for Oyo South, Hon. Aderemi Oseni,  Com. Idowu Ayodele, has dismissed allegations that his principal deliberately excluded the party’s governorship candidate, Senator Sharafadeen Alli, from his campaign activities.

‎Idowu described the allegation by a former Attorney-General and Commissioner for Justice in Oyo State, Mutalubi Ojo Adebayo, SAN, as unfounded, saying it was based on hearsay rather than facts.

‎Adebayo had, in a Facebook post on Friday, accused Oseni of not being a team player and alleged that the lawmaker deliberately left Alli out of his campaign billboards across Oyo South Senatorial District.

The former Attorney-General described the alleged action as anti-party and unfortunate, urging Oseni to retrace his steps in the interest of party unity ahead of the 2027 general elections.

‎Adebayo also appealed to the APC leadership in Oyo State to intervene and ensure a united and coordinated campaign structure.

‎However, Idowu, while reacting to the allegation, urged the former Attorney-General to verify his facts before making such claims.

‎“I cannot pre-empt your reason or say exactly what informed your decision or the motive behind your post.

“But knowing your nature and what you stand for, I believe your submissions on issues like this should not be based on hearsay. They should be based on facts, proper checks, genuine information and, where necessary, investigation,” he said.

‎Idowu said contrary to the allegation, Oseni had sponsored and erected no fewer than 20 billboards across Oyo South featuring Alli.

“For the record, there are no fewer than twenty billboards presently across Oyo South Senatorial District, sponsored and erected by Hon. Aderemi Oseni, featuring the APC governorship candidate, Senator Sharafadeen Alli,” he stated.

‎According to him, Oseni’s support for Alli was not limited to billboard publicity, as the lawmaker had also actively campaigned and solicited support for the APC governorship candidate, President Bola Tinubu and other candidates of the party.

“Oseni did not just sponsor or erect billboards. He also actively campaigned and solicited support for President Tinubu, Senator Alli and other APC candidates.

“This is a known fact, and Senator Alli himself can attest to it,” Idowu added.

The media aide urged Adebayo to verify the information and correct the impression created by his post.

“I therefore expect you, as a man of honour and integrity, to do the needful by verifying the facts and honourably debunking the falsehood contained in your post,” he stressed.

Idowu also appealed to APC leaders and stakeholders in the state to exercise caution in their public statements, warning that unverified allegations could create unnecessary tension among party leaders.

Continue Reading

News

FG vows to tackle power crisis, commissions 3MW solar plant at Abuja varsity

Published

on

Joseph Tegbe

The Federal Government has vowed to tackle Nigeria’s power challenges, with the Minister of Power, Joseph Tegbe, assuring Nigerians that the administration of President Bola Tinubu will deliver on its promise of improved electricity supply.

Tegbe gave the assurance on Wednesday in Abuja while commissioning a 3MW solar hybrid power project at Yakubu Gowon University, formerly the University of Abuja.

The project, delivered under Phase II of the Federal Government’s Energising Education Programme, is expected to provide more reliable electricity for teaching, research, laboratories, digital services and other critical activities at the university.

The intervention was implemented by the Rural Electrification Agency through the World Bank-funded Nigeria Electrification Project.

The facility comprises a 3.3MW solar array, 3MW AC output capacity and 2MWh battery storage designed to support critical loads beyond daylight hours. The project also includes 388 solar-powered streetlights to improve lighting and security across the campus.

Speaking at the commissioning, Tegbe said the project demonstrated how investment in electricity could directly support human capital development.

“There is perhaps no better place to demonstrate the practical value of Nigeria’s energy transition than a university,” the minister said.

He explained that universities required dependable power not only for classrooms, but also for research, laboratories, technology, administration and digital services.

Tegbe, who described the commissioning as the beginning rather than the end of the investment, said the government was also working to ensure that renewable energy facilities remained functional over the long term.

He said the newly established Renewable Asset Management Company would play a role in ensuring proper management and maintenance of renewable energy assets.

The minister also disclosed that efforts were underway to extend electricity coverage to other parts of the university, including student hostels, following requests from the institution’s Student Union Government and management.

He said the government would work towards ensuring that other areas of the university were covered within six months.

The Managing Director of the REA, Abba Aliyu, said the Energising Education Programme had evolved from simply providing electricity infrastructure to supporting education, research and human capital development.

According to him, the programme has so far delivered renewable energy infrastructure to 22 federal universities and three affiliated teaching hospitals, deploying more than 100MW of clean energy nationwide.

Aliyu said the experience gained from the projects had shown the need to pay as much attention to maintenance and long-term performance as to construction.

“We have become very good at asking, ‘How do we build more?’ We must now become equally rigorous about asking, ‘How do we protect what we have already built? How do we make it perform? And how do we preserve its value?’” he said.

The Head of the Nigeria Electrification Project, Olufemi Akinyelure, said the impact of the project should be measured beyond the electricity generated.

He said reliable electricity would enable laboratories to function, support research and create better conditions for students and lecturers.

“Government may not be in the business of making profit, but it must always be in the business of making progress,” Akinyelure said.

The Vice-Chancellor of Yakubu Gowon University, Prof. Hakeem Fawehinmi, described the project as a major investment in the institution’s academic mission.

Fawehinmi said the university could not effectively teach, conduct meaningful research, operate laboratories or sustain digital services without dependable electricity.

He assured the Federal Government and other partners that the university would properly utilise and maintain the facility.

Also speaking, the Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, said the project underscored the need to connect government investment with sustainable outcomes.

Abaribe urged the university to take ownership of the facility and ensure that appropriate arrangements were made for its operation, maintenance and protection.

Beyond electricity generation, the project includes a Renewable Energy Workshop and Training Centre designed to support practical learning and skills development in renewable energy technologies.

The programme also has a female STEM component aimed at giving students practical exposure to renewable energy and opportunities in the sector.

The project was delivered through collaboration among the Federal Government, REA, the Nigeria Electrification Project, the World Bank, Yakubu Gowon University and EMONE Energy Solutions.

With the facility now commissioned, the focus shifts to keeping it operational and ensuring that improved electricity translates into better learning, stronger research and greater opportunities for innovation at the university.

Continue Reading

Trending