How Technology is helping to Increase Access to Financial Services in Nigeria
Source: Feranmi Ajuwon
One of the most critical drivers of economic growth is financial inclusion. This is because access to financial services have so far been proven as a means to empowering people in various ways such as enabling businesses reach a larger market, facilitating the monitoring of inflows and outflows such that risks are minimized and most importantly helping to minimize income inequality.
Though many are still financially excluded in Nigeria with about 42% of the population lacking access to formal financial services (Efina, 2016), technology has enabled the banking industry provide various means through which these excluded persons can access financial services thus serving as an effective tool to bridge the financial inclusion gap.
Following the introduction of the cashless policy by the Central Bank of Nigeria in 2012, the banking sector has witnessed a quantum leap in the use of electronic channels of payment such as internet banking, automated teller machines (ATM), point of sale (PoS) devices and mobile applications, while financial technology (fintech) platforms have become the norm. In addition, many banks have gone further to partner with fintech institutions and the telecommunications industry to facilitate the increased use of these services thus enhancing access to financial services without having to build more branches.
The impact of this is seen in the growth of retail and digital banking, the ecommerce industry and the facilitation of credit services. According to the National Bureau of Statistics, the volume of transactions done through electronic payment channels in Nigeria is about 509.67million as at Q2 2018, while the value of these transactions is worth N32.9billion. Furthermore, with the advent of artificial intelligence, banks can now make use of customer’s data to creatively develop affordable and easily accessible products and services tailored directly to meeting customers’ needs.
With more banks aggressively adopting financial technologies that are moving the bank branch to devices, there is no doubt that more individuals will become financially included in the near future. A case in point is Zenith Bank’s upgrade of its mobile app to support account opening and Qwerty Banking (transactions while using any chatting app like Whatsapp or Telegram). The Bank is also a big investor in the use of Unstructured Supplementary Service Data (USSD) with its *966# short codes. Additionally, its Scan to Pay solution is one of the few in Nigeria that supports MasterPass and mVisa payments.
Despite the strides however, more needs to be done in the area of beefing up financial literacy campaigns such that individuals not only have access to these financial products and services but are able to convert them to improve their financial status.
On Tuesday, the Chief Executive Officer of Quidax, Buchi Okoro stated that cryptocurrencies like Ripple (XRP) can be used to increase liquidity for remittance businesses while reducing the cost per transaction to customers.
In a panel discussion at the 7th Remittance and Payment Expo that held on the 23rd and 24th of October at Oriental Hotel in Lagos. Buchi said that Quidax was not in competition with remittance or payments platforms, but instead in collaboration with them, as using cryptocurrencies like Ripple will increase liquidity and effectiveness to remittance businesses.
He added that partnering with platforms like Flutterwave, Paga and other remittance and payment systems could reduce the cost per transaction to consumers, cut transaction time and even lower operating costs. Explaining he said that remittance businesses usually needed to have security deposits in the countries they operate in, however, using a cryptocurrency like XRP this could potentially be eliminated. According to him in a matter of microseconds, the currency of the originating country would be converted to XRP, sold on the exchange for the currency of the destination country with the end user receiving the money in their bank account in seconds.
On the panel with Buchi were the Growth Lead, Remittance at Flutterwave, Etimbuk Bassey and Co-founder and Director of Business Development at Paga, Jay Alabraba.
In his speech before the panel session, Buchi shared how overwhelming the traction in Nigeria has been, with a lot of activity coming from the Ripple pairs which are mostly used for remittance because of the speed of settlement at around 25 seconds. Also, Quidax is looking to integrate XRapid a payment and international transfer product from Ripple which would efficiently power remittances and cross-border payments using XRP as a bridge.
At the expo, Buchi stated that there were a couple of reasons why people were suspicious of cryptocurrencies namely the fear of being ostracised and the possibility of cryptocurrencies crashing. According to him while some of these fears could not be erased completely, however, people are too focused on speculation. “It would be a lot more mind-blowing to consider the positives and opportunities cryptocurrencies offer us today; instant settlements and greatly reduced costs of financial transactions”
The Quidax CEO concluded saying that like every new technology, there were bound to be some resistance just like when the bicycle and the car were first introduced however the road ahead is still long and the innovations would continue well into the future.
The 7th Remittance and Payment Expo was themed ‘Unlocking Opportunities in Money Transfer and Payment systems in Africa’ and it was organized with the intention of deepening remittance and payment ecosystems in Africa. In attendance were top executives from financial services companies, regulators, mobile network operators, and fintech startups.
You need to first of all determine the use of the refrigerator. Will it be used in a home setting or for commercial purpose? If the fridge will be used in a home for example, is it going to serve as the main refrigerator or will it be for private use. The former will often be larger than the later. Clarifying the use of the refrigerator will help you later in determining the capacity, style or model. In addition, if you live alone or a student, you should buy a compact refrigerator (usually single door).
What Style, Type or Model: A refrigerator usually consists of two types of sections. The freezer section for freezing food and the refrigerator section for keeping food fresh and your drinks chilled. The various refrigerator styles is all about how the two sections are configured. Refrigerators come in different styles, types and models with the traditional top freezer style being the most cost effective and most popular in homes. However, there are also the stylish french door refrigerators and the side-by-side refrigerators.
See the most popular Refrigerator types and styles:
– Compact Refrigerators
This usually offer a single door through which you access the refrigerator and the freezer sections, but two door compact designs are also available. prices ranges from 27,000 Naira to 150,000 Naira.
If you are single or a student, you may not require to buy a full-sized refrigerator. A compact refrigerator might just be what you need. Capacities of compact refrigerators ranges from as little as 60 litres to up to 200 litres.
-French Door Refrigerators
The freezer compartment for a french door refrigerator is located on the bottom and consists of one or two bottom freezer drawers. French door refrigerators are available in similar capacities as side by side refrigerators, but are pricier.
French door refrigerators looks quite similar to side-by-side refrigerators. In fact, a french door refrigerator also has side by side doors, however both doors open the refrigerator sections, while the side by side refrigerator offers a refrigerator on one side and a freezer on the other side.
Prices can range from around 570,000 Naira to over 1 million Naira. French door refrigerators are great for large families and if you stock large amounts of food like monthly.
-Bottom Freezer Refrigerators
The bottom freezer style is similar to the top freezer model except, that the freezer compartment is in the bottom. Choosing between a bottom and a top freezer depends on preferences. However, bottom freezer designs usually cost more and are not as easily available to the top freezer style.
Price for bottom mount freezer ranges from 110,000 Naira t 450,000 Naira.
-Top Freezer Refrigerator
Top freezer refrigerators come in vary capacity from as little as 90 litres for the compact models to as high as 700 litres for bigger models. Some may also offer a built-in water dispenser. Prices of a top freezer refrigerators ranges from 47,000 Naira to 450,000 Naira, depending on the storage capacity of the refrigerator.
The Top freezer refrigerator style (a.k.a Top Mount Refrigerator) are the most popular in homes. They are usually smaller than the french door style and side-by-side refrigerators and are also lower in price. These refrigerators have two compartments each having a separate door with the freezer compartment on top.
-Side by Side Refrigerator
A side-by-side refrigerator like the name implies offers two doors side-by-side. One door opens the freezer while the other opens the refrigerator side for cooling your food and drinks.
Side by side refrigerators are very stylish and fashionable and can add to the decoration in your kitchen. They also come in bigger capacities, usually above 500 litres with prices ranging from 250,000 Naira to 1,200,000 Naira. Some models also offer water and ice dispensers.
Side-by-side refrigerators are great for large family sizes and if you can handle the cost.
-Bottom Freezer Refrigerators
The bottom freezer style is similar to the top freezer model except, that the freezer compartment is in the bottom. Choosing between a bottom and a top freezer depends on preferences. However, bottom freezer designs usually cost more and are not as easily available to the top freezer style.
Price for bottom mount freezer ranges from 110,000 Naira to 450,000 Naira.
-Deep Freezer Model
Coincidentally, you may not actually need a refrigerator, but an all freezer design. Freezers are recommended if you sell frozen food or for institutions and very large families that require to stock frozen food than will be supported by a standard refrigerator freezer.
They are available as deep freezers (a.k.a. chest freezers) or upright freezers.
-Coolers / All-Refrigerator Style
Specifically, it is also important for you to know that there are compact coolers that you can buy for personal use. These can hold from as little as just one bottle to up to 50 bottles.
Sometimes you do not need a freezer. All you need is a refrigerator to keep your drinks and beverages cold. This is where coolers or all-refrigerator design comes in. This types of refrigerator offers no freezer.
They make sense in offices or in commercial applications like in restaurants and supermarkets. The showcase model with transparent glass doors that allow customers see the stock in the refrigerator are often found in supermarkets and restaurants.
You can probably try a Smart Refrigerator
With your cell-phone you can watch and listen to different programs via internet. the refrigerator is not going to be left behind. Smart refrigerators come with a lot of cool features that adds lots of value to the entire experience.
They come with Wi-Fi and run apps. A smart refrigerator for example, can inform you when you are out of milk or if the milk in your refrigerator is reaching its expiring date. Some models also support voice control.
Some smart refrigerators also offer built-in cameras that will enable you to remotely see what is inside your fridge via a smartphone.
Smart refrigerators are not mainstream yet. In fact, we could not find any models in two of Nigeria’s top online stores.
You should determine whether existing power sockets (points) can support the capacity of refrigerator that you intend to buy. If not you will need to install a dedicated switch for the fridge.
Also ensure that the refrigerator uses the power supply voltage value that is applicable in your country. In the United States for example the power supply is 110V-115V. In UK, Nigeria and most African countries the power supply voltage is 220V-250V.
However, most fridges sold in your country are likely to come with compatible power supply. This guide is only important if you want to import from another country.
Features To Consider before buying!
Television mounted in front
Retains Cold temperature after several hours of power failure (like Samsung Inverter Refrigerator)
Frost free operation: no build-up of ice (automatic defrost)
CFC free refrigerant
Rust free cabinet
Humidity and temperature control
Bio air cleaning
Wheels: For easy movement during maintenance, cleaning or evacuation
Once you are sure of what you want to buy and you have a good idea on price, you can then visit an authorised dealers shop to make your purchase. You may buy from any of the same shops you did your market survey preferably the one with the best deal.
However, wherever you buy make sure it is from an authourised dealers shop. An authorised dealer deals directly with the manufacturer and will often offer you a one to three to ten years warranty on the fridge. The warranty often involves repair or outright replacement of the refrigerator if it develops any fault during the tenor of the warranty. The fault must not be as a result of your carelessness. Warranty is often limited, so clarify what the warranty includes and excludes (terms and conditions).
There are lots of fridge manufacturers some with good reputation. Some brands are more popular than others in some countries. In the US and UK there are popular brands like Whirlpool, Amana and Kenmore. These brands are however not so popular in Nigeria.
In Nigeria, Kenya and some other countries there are lot of brands like Haier Thermocool, Samsung, LG, Polystar, Midea, Hisense, Nexus, Scanfrost, Ocean, Newclime and more are popular.
Consider The Capacity Of The Refrigerator
For instance a compact refrigerator of capacity 131 litres to 300 liters will be okay for one person, while two persons can use a 270 litres to 340 litres (9 cu ft to 12 cu ft) refrigerator. A family of four can use a fridge of capacity 390 litres (13 cu ft) or above. Larger families should buy fridges in excess of 480 litres (17 cu ft).
However common sense is the best guide in choosing the right capacity for your refrigerator. If you already have a refrigerator and simply want to replace it, you are in a better position to determine whether you need a larger or a smaller refrigerator. If your current refrigerator is always crowded then you should go for a much larger size. On the other hand, if it is always empty then a smaller size should do. In all this consider future plans (marriage, children, etc).
Your lifestyle is also an important consideration, if you eat out; you need a smaller fridge than normal. On the other hand if you cook mostly at home, you need a larger fridge than normal.
Your stocking pattern is also important. If you buy food on a daily basis or you buy food for storage for a shorter period (say less than a week) then you need a smaller refrigerator. The key is to use common sense.
The capacity may also restrict the refrigerator style you buy as different styles are limited to certain capacity range.
Once you are clear about the model or style of refrigerator that you want, you need to determine the capacity you require. A number of factors determine the capacity of the refrigerator that you buy, your life style is one, if you eat out most of the time, your refrigerator capacity will be smaller than a person who usually cooks at home.
Then the size of the family is also a factor. Other factors are your energy budget and the amount you are willing to spend on a refrigerator. A refrigerator will be more expensive as the capacity increases. A large family will need a larger refrigerator capacity than a smaller one.
If you buy a larger capacity of refrigerator than you need, you will waste money supplying energy to an almost empty refrigerator and that is not good for the planet. An overly large fridge will also occupy valuable space.
On the other hand if you buy a refrigerator with a smaller capacity than you need. It will always be overcrowded with your stuffs. An overcrowded refrigerator will struggle to circulate cool air and will require more time and energy at your cost to cool your items.
The most important measure of a refrigerator’s capacity is its size. It is usually measured in cu ft (cubic feet) or Litres. There are some rules for determining the right size for your refrigerator but common sense is the best rule.
Do you require cabinet depth
Cabinet depth refrigerators are slimmer so that they integrate better with cabinets in your kitchen. A cabinet depth refrigerator will align perfectly with your kitchen cabinet and not protrude, making your kitchen look neat.
Cabinet depth is all about taste and style. They may be available as french door refrigerator or side-by-side refrigerator.
Additionally: Hope you find this data helpful, for more enlightenment on how to get the products you may contact us: we are ready to guide you through all the way.
Firstly, if you intend to buy a floor standing A/C, you must also determine the space it will be mounted on. Measure the maximum space allowed for the air conditioner; take it along with you to the Electronic shop. Buy floor standing air conditioners that can fit within the measured space.
However, If you are to buy a window mounted air conditioners, measure the dimension of the window. Take along your measurement with you to the electronic shop. Ensure that the dimension of the A/C will fit into your window dimension with little or no civil work.
NOTE:- Before you buy an air conditioner it is right to know the dimension of the space to be conditioned. A measure of the room area can help you determine required air conditioners capacity. The larger the room space the more capacity required from the A/C. You need to take this space information to the electronic shop.
The Power Requirement
It is important to ensure that the A/C you intend to buy conform to local electrical standard. One of the most important power ratings is the Voltage supply.
In the US the power supply voltage rating is 110-115V, 60Hz. Any air conditioner for the US must meet these criteria. In the UK, Nigeria and most African country the voltage supply is 220-250V, 50Hz.
Air conditioners require large amount of power so you may need to install a dedicated power switch for it. Buy a socket or switch that can handle the power requirement of the air conditioner.
What Is The Capacity (BTU HP EER)
The capacity of an air conditioner is a measure of its ability to cool a given space. Some capacity ratings used for air conditioners include Btu (British thermal unit) and Horse Power (hp).
You need to know the right capacity of air conditioner required to adequately cool and condition the measured space. It is very important to buy air conditioners with the right capacity. An air conditioner with a larger capacity than required will meet its targets too soon leading to intermittent on/off switching of the AC with negative wear and tear on the A/C parts
Btu is a measure of the quantity of heat that an A/C can remove from a given space. Scientifically Btu is the quantity of heat required to raise the temperature of one pound of water by one degree Fahrenheit.
The higher the Btu capacity of an air conditioner, the stronger it is. Btu capacity of air conditioners, range from 5000Btu to more than 90,000Btu.
Btu may be popular in countries like the US and UK, but in others like Nigeria it is not usually used to describe air conditioners.
A popular rating used by retailers in Nigeria is the hp (horse power). This is a measure of the strength of an air conditioner and is somewhat related to the Btu. The hp rating of an air conditioning system is all about the power of the motor (compressor) inside the A/C. The more powerful the motor of an air conditioner the greater its capacity to cool a given space.
Obviously, popular air conditioner HP capacities in Nigeria are 1 hp, 1.5 hp and 2 hp.
There are a number of recommendations for determining the air conditioner Btu or hp capacity required.
A small room of about 12 square metres (130 square feet) or less requires about 5,000 Btu/hour or 1 hp.
A medium sized room of about 18 square metres (200 square feet) or less will require about 6,000 Btu/hour or 1.5 hp.
A large room of about 30 square metres (325 square feet) or less will require between 7000 and 8000 Btu/hour or 2 HP.
Another important rating to consider for air conditioners is the EER (energy efficiency ratio). EER is a measure of how efficiently the air conditioner operates. EER is the Btu of heat removed by an A/C per watt of power consumed.
EER = Btu/Power (in watts)
Technically, an A/C with higher EER will have a lower operating cost compared with an air conditioner with lower EER. However EER comes at a cost. High EER means you will have to spend more money. In other words, high EER air conditioners are more expensive.
You must strike a balance between running cost and purchase cost. If the air conditioner will be on always, buy one with high EER otherwise high EER may not be worth it.
Specify The Type And Purpose Of Usage:-
There are different types of air conditioners in the market today. You need to determine the type of air conditioner that you need. The type of Air Conditioner can be determined by the use.
There are two main types of Air Conditioners. These are
unit air conditioners
central cooling system
Unit Air conditioners are self-contained. Once installed, it can operate independently. These are the type of air conditioners you will usually see in homes. Small homes that do not need too many air conditioning points use unit Air conditioners. They are more economical if few air conditioning points are required.
Follow this guide to see how to install a split air conditioner
Where To Buy Air Conditioner:- You can get a good and affordable one from the (Financial-quest-store). how to reach us:- connect to us on the chat forum then we will reply you with every support and guide you through the process of getting the best one that’s suitted for your home. If in anyway, you are convinced about the types of ac that better suit ur home or about the installation process. kindly reach this IT Professional…
Types Of Unit Conditionals:
The floor standing (or cabinet) air conditioners”
This models are mounted on the floor.
Ceiling mounted air conditioners are also available.
High wall split air conditioners units”
These models are usually cuboids they are more classy than the window models. They can be mounted on a window but are usually mounted higher than conventional window A/Cs
Window mounted air conditioners models”
These air conditioner models are usually cubic in shape, but are increasingly taking more attractive shapes. As their name implies, window air conditioners are mounted on the window.
Now you know the price of your A/C, you need to determine how to finance it. Air conditioner financing may be available to assist you in buying the new product. Enquire from your bank about financing options available to you. In countries like the US and UK product financing is more common than those in Africa like Nigeria. However, today consumer financing is now increasingly available in most of the leading banks in Nigeria.
Product financing is flexible and convenient but comes at the cost of interest. So you may choose to buy with no credit financing.
Important Things To Note:
Once you are sure of what you want to buy and you have a good idea on price, you can then visit an authorised dealer shop to make your air conditioner purchase. You may buy from any of the same shops you did your market survey preferably the one with the best deal.
However, wherever you buy make sure it is from an authorised air conditioner dealer shop. Authorised A/C Dealers deal directly with air conditioner manufacturers and will often offer you a one to three years warranty.
The warranty often involves repair or outright replacement of the air conditioner if it develops any fault during the tenor of the warranty. The fault must not be as a result of your carelessness or abuse. The warranty is often limited so clarify what the warranty includes and excludes (terms and conditions). Moreso, authorised air conditioners dealers offer excellent after sales services. They also offer A/C financing.
Clarify The Price:
Once you have a fair idea of the air conditioner you want to buy, you should then find out the price, the Prices of air conditioners increase as capacity and number of features increase. You need to do a market survey to determine the price options available to you.
Call or visit an authorised air conditioner dealer to determine prices. Note that prices of air conditioner also range in value.
If you are in Nigeria, we can direct you to our authorised A/C dealers call or visit the dealer closest to you. Prices of most popular cooling systems in Nigeria range from N27,000 to 450,000 Naira depending on the actual function you want it to carry out.
A/C Features To Also Consider:
There are some additional features to consider in air conditioning.
Bacteria/germ/odour elimination (clean safe air): example Silver Nano from Samsung, Nano Titanium from Hitachi
Variable Fan speed
Slide out filter: for easy maintenance and cleaning
Digital temperature control
Brands of Air conditioners
There are various A/C Brands in the world and their popularity varies from country to country. In the US and UK there are popular brands like Sharp, Whirlpool, Amana, General Electric and so on. These brands are not so popular in Nigeria.
Some popular Brands Of Air Conditioning with good reputation in Nigeria are Panasonic, Kingsmen, Chigo, Scanfrost, Samsung, LG, Midea, Haier Thermocool, Airflow, Newclime, dizengoff and so on. nonetheless, with this information i think you can be ablke to figure out what you want before purchase exchange.
The first question to ask yourself is do I actually need an inverter? This question is important because while inverters are alternatives to power generator they are not quite as versatile. Moreover, the first challenge for a power inverter is that you need to charge the batteries. This is a bit problematic if you live in a developing country like Nigeria where public power supply from the grid is not steady.
NOTE:- Power Inverters are Electronic gadgets that converts energy stored in a battery (or DC voltage) to AC voltage that will power your appliances. Their major selling points are their low noise and emission free operations as well as their convenience benefits.
Things To Consider Before Purchase:-
Technically it’s important to note that a power inverter is more suited for resistive loads like your household and office electronics like TVs, Computers, Printers, lights, etc.
Power Inverters are not best with inductive loads, so if you are going to be operating lots of machines with motors in them, a generator may be better, except you can find an industrial grade inverter.
Inductive loads like Refrigerators, Freezers, and Air conditioners can be powered by an inverter, just make sure you buy an inverter with high enough capacity and capable of handling their high start currents.
For example, the starting current of a refrigerator could be up to 3 times its current in normal operation. So, a 200w refrigerator requires up to 600w to start. A/Cs are even worse.
The ideal person to buy a power inverter is someone who has at least 12 hours of public power supply per day or someone who already has a power generator, but wants a noise free alternative.
For example, I use my power generator during the day (if power supply becomes epileptic) and use my power inverter at night because they operate at low noise and are night-friendly. The generator also charges the inverter battery while it is on.
If you live in an area with less than 12 hours of public power supply, it will not make a lot of sense to buy an inverter, except you also have a power generator or you are willing to invest in a solar power system with solar panels.
Specify The Battery Type:-
While purchasing an inverter, you also need to buy an inverter battery because that’s where the power inverter derives its energy.
The best battery for your inverter is the SMF deep cycle inverter battery. SMF stands for Sealed, Maintenance Free. Though you can use the normal car battery, but they emit poisonous fumes which could have long term impact on your health. This means an SMF battery can be installed indoors making them very convenient.
Another type of battery to use if you do not mind some maintenance is the tubular battery, which are also deep cycle batteries, but require some maintenance.
They require less maintenance compared to car batteries. Tubular batteries are not advisable for installation indoors as they are not completely sealed and could be emitting gases.
deep cycle batteries last longer than regular car batteries because they are optimised for the loading characteristics of power inverters.
They may cost more, but we recommend you buy an SMF deep cycle battery for your power inverter. If you are looking for cost effectiveness and do not mind some maintenance, go with the tubular deep cycle battery.
Figure Out The Battery Capacity:-
Batteries come in different capacities. The higher the capacity, the longer a battery can last before getting discharged, given similar loading.
A 200 Ah (Ampere-Hour) battery is recommended though a 100 Ah or 150 Ah battery can be managed.
For example, for our example load above (400VA), a fully charged 200 Ah battery can theoretically deliver 6 hours of power while a fully charged 100 Ah battery can only manage 3 hours.
Note that these are theoretical values, actual values may be less (as we ignored inverter efficiency and our power factor is assumed).
To increase the capacity and use time, you connect more batteries in parallel or reduce the load on the inverter.
For example, connecting two 200 Ah batteries in parallel will result in a theoretical energy capacity of 400 Ah and increase the theoretical use time to 12 hours. Note that to connect batteries in parallel you must account for the input voltage.
So, a 12V input inverter will require one 12V battery in each parallel set, a 24V input inverter will require two 12V batteries in each parallel set, a 48v input inverter will require four 12V batteries in each parallel set and so on.
Hence, a 48v input inverter will require eight 12v batteries for 2 parallel sets and twelve 12V batteries for 3 parallel sets.
How To Calculate The Number of Batteries Required, That’s Suited For Your Home:-
An inverter is usually rated in this pattern X VA/Y V, where X is the rated power output and Y is the input voltage required.
For example an 800 VA/12 V inverter will give a maximum output power of up to 800 VA and require an input voltage of 12V. Similarly, a 1.5 KVA/24V inverter will output 1.5 KVA (1500 VA) and require 24V input.
Since batteries usually come in 12 volts voltage, the 800 VA/12 V will require a minimum of one 12V batteries, while the 1.5KVA/24V inverter will require a minimum of two 12V batteries connected in series.
In the same vein, a 3.5KVA/48V inverter will need a minimum of four 12V batteries. When you buy an inverter, make sure you know the minimum number of battery required.
Power Needed For Home Calculations:-
For the fact that you have make up your mind to buy an inverter, the next stage is to calculate your power needs. Simply note the gadgets that you will be operating with the power inverter.
For example, typical load may be 1 TV set, 1 decoder, 1 DVD player, 1 Fan, 1 Laptop, 3 light points.
Then note the power ratings of each of the gadgets. You can find the power rating on the back or side of the gadget. You can also check the manual of the gadget. For example for the load above, the rating could be:
1 TV set (100w)
1 Decoder (20w)
1 DVD Player (20w)
1 Electric Fan (70w)
1 Laptop (20w)
3 energy efficient light points (90w)
Total Load = 320wThe next step is to get a VA equivalent of the power, which if we assume a power factor of 0.8 gives 400 VA (i.e. 320/0.8)
After calculating your total load, the next step is to derate the power inverter to create some allowance for flexibility and to ensure it does not over work itself.
To derate, just multiply your total load by 2. In the example above 2 x 400 = 800VA. So, you will buy an inverter with a power rating of 800VA or higher like an 800VA Inverter.
You may also decide to multiply by 3 to give more operation allowance for the Power inverter. Note that the aim of derating is to ensure that your inverter does not operate at full-load or near full-load, which will ensure the longevity of the device.
Inverter Pricing & Brands
Pricing of inverters for home and office ranges from around 45,000 Naira to 900,000 Naira depending on power output and level of sophistication.
This does not include the battery. A 12V 100 Ah SMF Battery costs around 55,000 Naira, while a 12V 200 Ah SMF battery starts at around 102,000 Naira. You will need from one to more than eight depending on your setup.
Want to buy an Inverter? Some popular brands in Nigeria include Sukam, Prag, Mercury, CyberPower, Luminious, Tripp Lite, Bluegate, etc.
Want to Buy Contact The Financialquest Team on the comment forum. if you need to ask any question feel free to ask, we will reply shortly by updating you..
How To Do An Inverter Installation Guidelines:-
Unless you have an average electrical skills, you will need a technician to install your inverter. Thankfully, some retailers and online stores that sell inverters offer options with the installation kit, making installation easier for you or a trained technician.
The installation accessories come from the manufacturer of the inverter which ensures everything works well. When buying an inverter it is always advisable to take-up the installation kit.
The cost of the installation kit may be incorporated in the cost of the inverter or you will have to pay separately for it. Make sure you are present to inspect the installation.
Make sure that the cabling connecting the inverter to the battery is as short as possible. This will reduce energy losses.
It is also important to know that a lot of current moves (it could be double or triple digits) from the battery to the inverter, so make sure everything is properly sealed with no naked wires to prevent electrocution.
Installation cost for inverters ranges from 5,000 Naira to 25,000 Naira depending on the complexity of the system. Financialquest teams offer this services at a moderable costs.
Solar Energy Support System:-
Note:- if you do not buy a solar inverter, you can still upgrade a regular inverter for solar energy by buying a solar charge controller.
If you buy a Solar Inverter, you will not need to buy a solar charge controller separately, since they come with solar charge controller built-in.
You will have to buy the solar panels separately. If tapping energy from the sun is important to you, buy a solar inverter outright. However, you can always buy a regular power inverter and upgrade for solar energy anytime you want.
Some inverters come with solar energy support. These inverters enable you connect solar panel(s) to your inverter and tap from the free energy of the Sun. This type of inverter is called a Solar Inverter.
The Solar Panel charges your battery ensuring you have enough energy when needed. Depending on the capacity of the Solar Panel, it can charge the battery, while still providing power for your appliances. Solar inverters can also charge your batteries via generators or public power supply.
Off-road hoverboards are gradually growing famous day by day since most teenagers, kids and adults love scootering around from one location to another. The top off road hoverboards make self-balancing on a scooter ride much more fun.
These hoverboards also come with some unique features that boost your ride. These off-road hoverboards come with a highly powerful lithium-ion battery that helps to continue the ride without a lack of speed. They come in a wide range of sizes, dimensions and model specifications. The basic intention of it is to make your ride simply awesome so that you get to enjoy moving around in your locality or from one terrain to another.
The Hoverboards Merits
This locomotive had undergone several critical tests and safety standard issues before it did successfully achieve the recognition as we see it at present. It comes with a nine but technology along with a knee bar.
No matter how hustle bustle your track is, the vehicle provides you the most soothing ride across the bumps, slopes and rocky surfaces of the terrain. Thus, from the next time you go for a ride, you need not worry about any kind of interruption that comes along the way with the off-road hoverboards!
Thus, I can say that the top off-road hoverboards are one of the best inventions till date, without any doubt, to make your ride on tracks easier and enjoyable. It is just too awesome to take for ride.
The top off-road hoverboards come with innovative features; some of them include tamper proof anti-theft alarm in your mini pro balancing scooter.
This is an amazing feature that saves your scooter by notifying you with an alarm on your cell phone just as anybody attempts to move your scooter without your permission.
The app functions in the most outstanding way as it gives a choice to the users to adjust the color of the head lights and the tail lights. Also, once you end up your cruising, you may choose to switch off your mini-balancing tutorial.
You also get other features wherein you can change or adjust the speed of your vehicle so as to make sure that everything remains under your control.
You even get the scope to check your vehicle diagnostics and other related information about the same. It also helps the users to come across the firmware updates as well as enables troubleshooting the malware issues easily from the app without any issue.
The developers and engineers have been trying really well to modify and uplift the inner and outer software and the system of this ‘most wanted personal transport’ in the market.
How this Innovation Was Discovered
Well after 2010, things started happening. With every occurrence, technology has advanced its step and engineers came up with experiments concerning “hoverboards,” the first self-balancing scooter.With modernization taking place, things are changing at a rapid face and so should it be! Just wonder, if you are in the still 90s, would you be thinking of it. Perhaps it would sustain somewhere within your fictitious mind.
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It is obvious that some people may not be convinced that a home projector system is the right choice for them. Perhaps you feel the same. That is perfectly fine, as we all have to make the best decisions for our own choices.
However, when you consider the major benefits we have outlined above that you can get, particularly if you want to have a home theatre that offers a realistic cinema experience, we feel it is pretty hard to dismiss projectors.
We hope to shed some light on some of the misconceptions regarding home projector systems.
Another aspect of projectors that many people get wrong is the misunderstanding that projectors are incredibly expensive. The fact is, it costs less for a projector that can produce a large sized screen than say an 100 inch screen television does. As we noted earlier, projectors are actually known to produce a better picture quality particularly when working with large screen sizes. for instances, paying a couple of thousand for a television or a few hundred for a projector.
BENEFITS:-It Reduces Eye Strain
As well as eliminating potential interference from daylight coming through windows or lighting in other parts of the home; it also means you can enjoy a more fully immersive cinema experience. If that wasn’t enough, watching movies via a projector can actually reduce eye strain that is often caused by the smaller size of a television screen and the bright glare that is emitted from most. Another common aspect of using a projector system is ambient lighting and how it can sometimes reduce the picture quality or washout some images completely. However, this is not generally a problem, if you like to fully recreate the cinema experience and close curtains during screenings.
Things To Consider while Buying A Projector
However, before attempting to buy one for your home, there are some important aspects of Quality Projector Screeen that you need to consider. It may not suit your home, after all and you may be better off investing in a larger television.
Long time ago Television are the most commonly used in the home theatres of the majority, with projectors being reserved mainly for those with higher salaries.
That is not the case anymore though, because as home projector systems have gained increasing popularity, their prices have gone down considerably. This means that most people can afford a projector for their home theatre set-up, regardless of the budget they have. Projectors offer some amazing benefits that televisions can’t compete with, making them the ultimate centrepiece for any movie and sports lovers and also home theatre electronics.
It Saves Space
It was normally believed that projectors suited larger homes better, but as many modern models can be fitted to the ceiling and many have screens that can easily be retracted or tucked away, there is potential to make use of one in even the smallest room. Whereas, televisions take up a lot of space larger homes, modern projectors can easily be mounted to a ceiling, and retractable projector screens can be smoothly tucked away, so even the smallest space can be used as a home theatre when it’s movie time. Contrary to what you may believe, and it is not really surprising when you think about it, but rather than using up too much space, a projector in your home system could actually save you more space than a television .Moreover, televisions are more difficult to store away when they are not in use, so dictate the function and purpose of a room they are installed in.
Weak Panels and Deformed Images Are Past Tensed
Due to their size, many people worry about the potential for blurred pixels and distorted images when using a projector. Although this may have been an issue in the past, thanks to major developments and improvements the images produced by modern home projectors is just as crisp and clear as television.
This one doesn’t differ much from most of the other dual-boot tablets we have listed here. On the inside is an Intel Atom X5 (Cherry Trail) Z8300, a 64-bit processor based on 14nm technology. This comes with decently fast 4GB DDR3 RAM and an Intel HD GPU (Gen8) with 12 execution units. The iWork 10 offers both Windows 10 and Android 5.1 Lollipop operating systems. It features 64GB of onboard storage, expandable via the microSD card slot.Last but not exactly least is This 2-in-1 flaunts a metal alloy rear with matte finish. It looks slim and robust at the same time. It has a keyboard dock that reminds you of the ASUS Transformer Book. The 10.1-inch IPS display promises nice visuals, boasting a resolution of 1,920 x 1,200 pixels. Amazingly, This 2-in-1 flaunts a metal alloy rear with matte finish. It looks slim and robust at the same time. It has a keyboard dock that reminds you of the ASUS Transformer Book. The 10.1-inch IPS display promises nice visuals, boasting a resolution of 1,920 x 1,200 pixels. isn’t it awesome…
Cube iWork 10 image
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Chuwi Hi10 Pro Feats Image
In-order to rate it performance, this is not for power users, we must say. You get an Intel Atom Z5 (Cherry Trail) SoC, supported by 4GB of DDR3 RAM. The memory size is not bad, though. In addition to Windows 10, the dual-boot tablet features Android 5.1 Lollipop. It has expandable 64GB internal storage capacity. Connectivity options include USB Type-C and micro-HDMI ports. The shows off a full-metal design that doesn’t betray its budget status. It looks stylish with its chamfered edges. At just about 560 grams, you should find it easy to carry around. It comes with a spectacular IPS display with a resolution of 1,920 x 1,200 pixels offering great viewing angles. There is a robust hinge that allows you pair it up with a keyboard to use in laptop mode.
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Teclast Tbook 11 Feats Image
The 10.6-inch IPS touchscreen boasts Full HD resolution, meaning display quality should be better than that of its brother. You will be able to pair the 2-in-1 with a keyboard to use as a laptop. As for operating systems, it offers Windows 10 and Android 5.1 Lollipop. Onboard storage is 64. The dual-boot tablet features a 7,500mAh battery and 4K video format support.This is an option to consider if the Teclast Tbook 16 Power is somehow out of your range. It comes with a less powerful Intel Atom X5 (Cherry Trail) Z8300 processor, which also receives backing from 4GB RAM. The over-clocking speed maxes at 1.84GHz. But this PC shows decent build with a rear casing made of metal and a glass digitizer evolution.
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Chuwi Hi12 Dual-Boot Tablet Image
This one also offers the Intel Atom X5 Cherry Trail chip, which is common among similar products. The 1.44GHz quad-core processor is paired with 4GB of RAM and an 8th-gen Intel HD GPU. You can enjoy full Windows 10 experience for productivity. Android 5.1 Lollipop lets you run a variety of apps and games. Internal storage has 64GB capacity as usual. There are two USB ports, one of which is 3.0 standard.
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Teclast Tbook 16 Power feats Image
Pair it with a keyboard and you have a laptop ready for some serious work. The 2-in-1 tablet has an 11.6-inch display with Full HD resolution of 1,920 x 1,080 pixels.
Teclast Tbook 16 Power is one of the best dual-boot tablets around and can be considered a much affordable alternative in this recent era. Its design brings the Microsoft device to mind. It shows off a magnesium aluminium rear, magnetic keyboard dock, and a multi-position contemplation.
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