President of Nigeria Internet Registration Association (NIRA), Revd. Sunday Folayan, has said the market potential of Nigeria’s .Ng domain, the country code top level domain (ccTLD), was worth N37 billion. Speaking at the annual .NG media college workshop with the theme “A World of Opportunities: Tapping the Opportunities in the DNS Industry,” Folayan said the .NG was a gold mine that could contribute very significantly to the economic development of the Nigeria. With a population of over 190 million, internet penetration of over 98.3 million users and business population of over 37 million, the potential for the .NG domain is indeed great.
He said despite .NG having only a paltry 106,000 domain names sold with 65 domain registrars, “with a business population of over 37 million, the .NG has a market potential of over N37 billion annually (assuming an annual renewal price of N1,000 per .ng domain). These are besides the potential businesses from additional registrars and subsequent jobs that will be created.”
NIRA recently auctioned some of its premium domain names and some of them were sold for as high as N7 million. The NIRA president also pointed out that in the last four years, NIRA has witnessed a 50 per cent year on year growth in the number of domain names registered and was poised to maintain the momentum.
He compared the economic potentials to the .tk domain name which belong to Tokelau, a country of 1.6 million population but with over 21 million of its .tk country code top-level domain (ccTLD) name sold and one-sixth of its economy coming from the sale of .tk domains, while Germany with a population of about 83 million people has over 20 million of its .de domain name sold already.
Folayan recalled that some of the challenges militating the growth of the .ng domain name include low awareness among Nigerians, poor infrastructure, preference by many for foreign domain names, poor and inadequate policies to drive the .ng domain name and insufficient manpower in the sector.
Kenya Finance Minister Arrested For Corruption
Kenya’s finance minister has surrendered himself to the police after the chief prosecutor ordered his arrest over allegations of corruption....
Imo Senatorial Contestant Takes Protest To INEC Office Over Certificate
A contestant in the last Imo North Senatorial District election, Benjamin Nwajumogu, yesterday stormed the National Headquarters of the Independent...
Zamfara APC: PDP Governors Hail Supreme Court
The PDP Governors Forum (PDPGF) has expressed its joy as the Supreme Court rejected the application by the All Progressives...
PMB Greets Former Lagos Governor, Lateef Jakande At 90
President Muhammadu Buhari has sent warm felicitations to former Governor of Lagos State, Alhaji Lateef Kayode Jakande, who turns 90...
Sen Wammakko Donates Food, Clothing To Sokoto Bandits’ Attack Victims
Immediate past govenror of Sokoto state and Senator representing Sokoto North Senatorial district, Aliyu Magatakarda Wamakko has donated no fewer...
Forum Requests Senate To Revisit Bill On FCE Dass
The Concern People’s Forum of Dass Bauchi South senatorial district has called on the Senate under the leadership of Sen...
APC Chieftain Urges Gov Obaseki To Avoid Zamfara, Rivers Mistake
Following the crisis rocking the All Progressives Congress (APC) in Edo State, a chieftain of the party, Mallam Garus Gololo,...
Others16 hours ago
Kogi Gov’ship: Melaye Appoints Campaign D-G
SPORTS17 hours ago
Why I Visited Cosgrove – Ahmed Musa
NEWS17 hours ago
Unrealistic Demands Delay Implementation Of New Minimum Wage- HoS
LAW21 hours ago
“I Am Authorised By Fiat To Conclude Trial Of Orji Kalu”- Judge
NEWS17 hours ago
PMB Summons IGP Over Shittes Protest
NEWS15 hours ago
Police Takeover Investigation Of Rape Allegation Against Fatoyinbo
NEWS16 hours ago
Zamfara: PDP Hails Supreme Court’s Refusal To Reverse Self
NEWS20 hours ago
JUST-IN: Many Injured As Police Clash With Shiites In Abuja