Business
40 Million Nigerians Await MTN as Airtel, Glo Bring Back Airtime Loans
40 Million Nigerians Await MTN as Airtel, Glo Bring Back Airtime Loans
Airtime lending services in Nigeria are making a strong comeback after weeks of uncertainty. The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has confirmed that 40 million subscribers will soon regain full access to emergency credit facilities. This development follows Airtel Nigeria’s decision to restore its airtime credit service and the Federal Competition and Consumer Protection Commission’s (FCCPC) suspension of the controversial DEON Regulations 2025. For millions of prepaid and low-income users, these small airtime advances are a daily lifeline for communication and economic survival.
Airtel Nigeria and Globacom (Glo) have fully restored their airtime lending services after a six-week suspension. Ayo Stuffman, chairman of the Wireless Application Service Providers Association of Nigeria (WASPAN), confirmed on Monday, May 25, 2026, that the services in question are already active on Airtel and Glo. In contrast, MTN Nigeria has yet to resume the service. The return follows a decision by the FCCPC to suspend enforcement of its controversial DEON Regulations 2025 after a court order halted implementation. The suspension had disrupted services such as ‘Borrow Me Credit’ and other airtime advance platforms used by millions of Nigerians, especially low-income subscribers who rely on small airtime loans during emergencies or temporary cash shortages.
ALTON Chairman Gbenga Adebayo has stated that the regulatory landscape is now sufficiently clear for operators to resume operations. He commended Airtel for taking the lead in restoring access to subscribers, noting that the regulatory environment is now clear and that full restoration is imminent. Adebayo emphasized that the courts have spoken, the FCCPC has acted responsibly, and two of the four major operators have already restored services. He added that there is no ambiguity left, and the association expects every operator to act with the urgency their subscribers deserve.
The disruption began in April 2026 after the FCCPC classified airtime credit as a consumer lending product under its DEON Regulations 2025. The move prompted MTN Nigeria, Airtel, Globacom and T2mobile to suspend services. Nigeria’s airtime credit market is estimated at N300 billion to N400 billion annually. Adebayo argued the suspension showed airtime credit is a critical economic infrastructure, not a typical financial product. He explained that what this episode demonstrated is that airtime credit is not a financial product in the way regulators initially characterised it. He described it as economic infrastructure that approximately 40 million people use regularly, with the vast majority of them at the base of the economy. He warned that removing that infrastructure, even temporarily, had consequences that went far beyond the telecom sector.
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The turning point came when the Wireless Application Service Providers Association of Nigeria (WASPAN) filed a lawsuit challenging the FCCPC’s authority. Justice A.L. Allagoa of the Federal High Court, Lagos, issued an ex parte order restraining the FCCPC from enforcing the framework, while Form 49 contempt proceedings were reportedly initiated against the Commission’s Executive Vice Chairman, Tunji Bello. In a statement on Friday, May 22, 2026, FCCPC Director of Corporate Affairs, Ondaje Ijagwu, confirmed the Commission’s compliance with the court order. Ijagwu stated that as a law-abiding institution, the Commission, in deference and in obedience to the rule of law, hereby suspends the implementation and the enforcement of the DEON Regulations 2025. Despite the temporary suspension, the FCCPC signalled plans to challenge the ruling, stating that its legal team had been instructed to contest both the court order and the competence of the suit filed against it. The Commission had earlier claimed it received more than 11,000 consumer complaints linked to digital lending operations, which partly motivated its regulatory push.
With Airtel and Globacom already back online, attention has shifted to MTN Nigeria, which serves over 95 million subscribers. MTN’s Chief Corporate Services and Sustainability Officer, Tobechukwu Okigbo, explained that the operator needs further legal clarity before restoring services. Okigbo stated that in terms of what needs to happen for them to resume the airtime advance service, there are essentially two conditions. First, they would require either a court ruling that sets aside the regulations empowering the FCCPC to license, which has not happened. Second, they would need a clear directive instructing them to reinstate the service.
For subscribers on Airtel and Glo, accessing emergency credit is now straightforward. Users can simply dial the harmonized USSD code *303# and select the “Borrow Credit” or “Airtime Advance” option. They can then choose their desired loan amount, which is repaid automatically on their next recharge. MTN subscribers, however, will continue to see an error message until the company decides to restore the service.
ALTON has used this episode to call for stronger coordination between the FCCPC and the Nigerian Communications Commission (NCC) to avoid future regulatory clashes. Adebayo noted that the recent disruption highlighted the importance of airtime credit services to millions of Nigerians, particularly those in lower-income communities who rely on the facility to stay connected. He argued that the FCCPC’s consumer protection mandate and the NCC’s telecom regulatory mandate can coexist without either displacing the other. The lesson, according to him, is that Nigeria’s regulatory agencies need formal coordination protocols for services at the intersection of telecommunications and financial products. He stated that ALTON is ready to participate in that conversation and urged both agencies to begin it without delay.
Looking ahead, the final outcome of the court battle will determine the future regulatory control of Nigeria’s fast-growing digital credit ecosystem. If the court rules in favor of the telecom operators, MTN will likely restore services quickly, and the NCC will retain oversight of airtime lending. If the FCCPC wins, stricter digital lending rules may apply, including licensing requirements, interest rate caps, and consumer complaint mechanisms. For now, Airtel and Glo subscribers can breathe easier knowing their emergency credit line is back. Millions of MTN users, however, must wait for either a court ruling or a clear directive before they can once again borrow airtime to stay connected.
40 Million Nigerians Await MTN as Airtel, Glo Bring Back Airtime Loans
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Aviation
Fani-Kayode Counters Keyamo, Defends Atiku Over Nigeria Airways Collapse
Fani-Kayode Counters Keyamo, Defends Atiku Over Nigeria Airways Collapse
Former Minister of Aviation, Femi Fani-Kayode, has challenged the criticism of former Vice-President Atiku Abubakar by the Minister of Aviation and Aerospace Development, Festus Keyamo, over the liquidation of Nigeria Airways and the non-payment of pension arrears owed to its former workers.
Fani-Kayode, who served as Minister of Aviation in 2006, argued that the defunct national carrier’s collapse resulted from years of mismanagement, corruption, mounting debts and operational failures that predated the return of former President Olusegun Obasanjo to democratic rule in 1999.
He made the remarks in a response to Keyamo’s statement on October 14, 2026, in which the aviation minister accused Atiku of hypocrisy over the airline’s liquidation in 2004 and the subsequent failure to pay its former employees their pensions and gratuities.
Keyamo had said President Bola Tinubu approved and released ₦36 billion to settle outstanding pension liabilities owed to former Nigeria Airways workers, adding that beneficiaries had begun receiving payment alerts.
In his response, Fani-Kayode acknowledged the Tinubu administration’s efforts to settle the outstanding liabilities but maintained that the history of the airline’s collapse required a broader examination of events preceding its liquidation.
According to him, Nigeria Airways was already in a critical state before Obasanjo returned to office in 1999.
Fani-Kayode recalled that when Obasanjo left office as military head of state in 1979, Nigeria Airways had 32 functional aircraft, experienced pilots and crew members, a competent management team and an accountable board of directors.
He said the airline was then regarded as a source of national pride but had deteriorated considerably over the following two decades.
By the time Obasanjo returned as elected president in 1999, Fani-Kayode claimed, only one aircraft remained, and it was not operational. He attributed the airline’s deterioration to years of alleged corruption, poor management and the disappearance of company assets.
He maintained that the liquidation process, which was completed in 2004, followed years of financial insolvency, operational collapse and unsuccessful attempts to rescue the airline.
Fani-Kayode also cited the withdrawal of the International Finance Corporation from privatisation-related efforts as part of the difficulties encountered in attempts to revive the company.
He said Obasanjo’s administration had little choice but to liquidate the airline rather than continue committing public funds to an organisation he described as having become practically irredeemable.
The former minister, however, acknowledged that the liquidation left thousands of former employees and their families facing prolonged financial hardship because their pension entitlements remained unpaid.
Recounting his own involvement in the matter, Fani-Kayode said a committee chaired by the then Head of the Civil Service of the Federation, Yayale Ahmed, recommended the release of funds to pay the pensioners.
He said that, as aviation minister in 2006, he presented a memorandum to the Federal Executive Council seeking approval for the payment of the outstanding entitlements and argued that settling the liabilities was the right thing to do.
However, according to him, the proposal was rejected after some members of the cabinet opposed it on the grounds that former management teams and boards of Nigeria Airways had contributed to the airline’s destruction.
Fani-Kayode said he disagreed with that position but acknowledged that those who supported payment were outnumbered during the deliberations.
He added that the issue was revisited under the late President Umaru Musa Yar’Adua, whose administration paid a substantial number of the pensioners. The administration of former President Muhammadu Buhari also made further payments, he said.
Commending Keyamo for the latest intervention, Fani-Kayode said he was pleased that the remaining pension liabilities had finally been addressed, while expressing regret that the payments had taken so many years.
He described the suffering endured by the former workers as immense and reiterated that paying their entitlements had always been the appropriate course of action.
On Atiku’s role in the Federal Executive Council deliberations, Fani-Kayode said he knew the position the former vice-president had taken during the debate but declined to disclose it publicly.
He argued that the eventual decision was a collective responsibility of the administration, adding that members of the government had to share the consequences of the outcome.
Fani-Kayode’s intervention has added another dimension to the political disagreement surrounding Nigeria Airways’ collapse, the handling of its former workers’ pension entitlements and the responsibilities of successive administrations.
While Keyamo credited the Tinubu administration with clearing the outstanding pension arrears, Fani-Kayode’s account focused on the airline’s long decline, the difficulties surrounding earlier efforts to pay its former employees and the involvement of successive governments in addressing the liabilities.
The dispute has also renewed attention on the fate of former Nigeria Airways workers, many of whom endured years of uncertainty while awaiting their retirement benefits.
Fani-Kayode Counters Keyamo, Defends Atiku Over Nigeria Airways Collapse
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Auto
OMAA Unveils Three CNG, Electric Buses, Offers 48-Month Vehicle Finance
OMAA Unveils Three CNG, Electric Buses, Offers 48-Month Vehicle Finance
…Introduces ₦890,000 monthly payment plan as Nigerian mobility firm marks sixth anniversary
Nigerian vehicle and energy company, OMAA, has unveiled three passenger vehicle models in compressed natural gas (CNG) and battery-electric variants, alongside a financing scheme offering repayment periods of up to 48 months to help transport operators and corporate organisations expand their fleets.
The new models — OMAA U3 minibus, K7 bus and V12 high-capacity city bus — are designed to serve different segments of the passenger transport market, from urban shuttles and institutional transport to large-scale mass transit operations.
The announcement, which coincides with the company’s sixth anniversary, also marks the introduction of OMAA Finance, a programme developed in partnership with Nigerian financial institutions to ease the burden of upfront vehicle acquisition costs.
Under the scheme, advertised monthly payments start from ₦890,000 for the OMAA U3 minibus, with an initial deposit of 10%. Financing terms, however, will depend on eligibility requirements, repayment tenure and the customer’s equity contribution.
The company has also opened pre-orders for the three models, giving prospective buyers the option of choosing between CNG and battery-electric powertrains according to their routes, operating costs and access to the necessary energy infrastructure.
Speaking on the development, OMAA’s Managing Director, Chinedu Oguegbu, said the launch reflected the company’s commitment to local automotive manufacturing and the expansion of cleaner, more affordable transport solutions.
“Six years ago, we set out to demonstrate that commercial vehicles could be assembled in Nigeria and powered by cleaner, more affordable energy. Today, the introduction of the OMAA U3, K7 and V12 in both CNG and electric variants, alongside our vehicle financing programme, represents another significant step towards that vision,” Oguegbu said.
He explained that the company’s objective extended beyond supplying vehicles to helping operators manage running costs, access after-sales support and build sustainable transport businesses.
“By combining locally supported servicing, parts availability and structured financing, we are creating opportunities for schools, hospitals, corporate organisations and mass transit operators to expand their fleets with greater confidence,” he added.
Three models target different market segments
The new lineup covers a broad range of passenger transportation needs.
The OMAA U3 is a 12-to-15-seater minibus designed for urban and intercity transport operators, institutional shuttle services and businesses requiring compact passenger vehicles.
The K7, with a capacity of 23 to 30 passengers, targets staff transportation, school bus services, corporate fleets and medium-capacity passenger routes.
The V12, the largest of the three models, is configured to accommodate between 43 and 70 passengers. It is designed for mass transit operators and businesses serving routes with high passenger demand.
All three models are offered in CNG and battery-electric configurations, allowing fleet owners to evaluate alternative powertrains based on fuel or electricity costs, vehicle utilisation, maintenance requirements and access to refuelling or charging facilities.
The dual-powertrain strategy comes as transport operators increasingly explore ways to manage energy expenses and improve the economics of commercial vehicle operations.
Special-purpose vehicles broaden applications
Beyond passenger buses, OMAA is offering special-purpose vehicle configurations based on the same platforms.
The options include cargo vans, ambulances, VIP transport vehicles and airport shuttles, extending the potential applications of the company’s vehicle range to logistics, healthcare, corporate mobility and airport transportation.
The use of common vehicle platforms could also help fleet owners streamline maintenance, spare-parts management and technical training, particularly where organisations operate different vehicle configurations.
Finance scheme targets high acquisition costs
OMAA Finance is a central component of the company’s strategy to lower the barriers to commercial vehicle ownership.
By spreading acquisition costs over repayment periods of up to four years, the programme is intended to help operators preserve working capital while expanding or renewing their fleets.
The advertised starting monthly payment of ₦890,000 for the U3, subject to a 10% initial deposit, provides an entry point for prospective buyers. The actual cost of financing will depend on the applicable terms, including the vehicle price, deposit, interest and other charges, where applicable.
The company is also promoting a total cost of ownership (TCO) approach, which considers not only the purchase price but also energy consumption, servicing, spare parts and other expenses incurred throughout a vehicle’s operating life.
According to OMAA, the combination of structured financing, local servicing support and spare-parts availability is intended to help customers plan operating expenses and make more informed fleet investment decisions.
However, the potential savings will vary according to the vehicle selected, financing conditions, energy prices, mileage, maintenance costs and the availability of suitable CNG refuelling or electric charging infrastructure.
Six years of operations
Headquartered in Umunya, Anambra State, with offices in Lagos, Abuja and Accra, OMAA operates in Nigeria and Ghana, serving fleet operators, institutions and businesses.
The latest launch builds on the company’s six-year operating history and its efforts to combine local vehicle assembly, alternative energy solutions and financing options in the commercial mobility market.
For transport operators contending with rising operating expenses and the high cost of fleet expansion, the new models and financing arrangements offer additional options for acquiring passenger vehicles.
The initiative’s long-term impact, however, will depend on the vehicles’ performance under local operating conditions, the accessibility and affordability of financing, reliable after-sales support and the availability of the infrastructure required to sustain CNG and electric mobility.
With the latest unveiling, OMAA is seeking to position itself beyond vehicle supply, offering an integrated commercial mobility proposition that combines vehicle acquisition, alternative energy choices, maintenance support and financing.
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Auto
FG Moves to Expand CNG Vehicle Production, Targets Cheaper Transport Fares
FG Moves to Expand CNG Vehicle Production, Targets Cheaper Transport Fares
The Federal Government has stepped up efforts to strengthen Nigeria’s automotive industry and promote more affordable transportation through collaboration with local vehicle manufacturers, following visits to two manufacturing facilities in Anambra State.
Board members of the National Automotive Design and Development Council (NADDC) inspected the facilities of Innoson Vehicle Manufacturing (IVM) in Nnewi and Kojo Motors Auto Assembly in Umunya to assess their production capacity, identify operational challenges and explore ways to support indigenous manufacturers.
The visit comes amid the Federal Government’s drive to expand the use of compressed natural gas (CNG) and electric vehicles as alternatives to petrol-powered transportation, with the aim of reducing operating costs and making public transport more affordable.
The manufacturers welcomed the government’s new policy directing ministries, departments and agencies (MDAs) to patronise locally manufactured vehicles, saying it could increase demand for their products and strengthen domestic production.
Secretary to the Government of the Federation, George Akume, had issued a circular directing government establishments to purchase vehicles from local manufacturers.
Managing Director of Innoson Vehicle Manufacturing, Chief Innocent Chukwuma, said he was encouraged by the government’s emphasis on CNG, describing the fuel as an important option for sustaining Nigeria’s automotive industry amid rising petrol and diesel costs.
Chukwuma disclosed that the company had dedicated its newest large-scale facility to producing CNG-powered trucks and electric vehicles.
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He said wider adoption of CNG could help lower transportation and operating costs while supporting local industrial growth and creating employment opportunities.
The industrialist also called for stronger backward integration in the automotive sector, arguing that manufacturers should focus on producing components that Nigeria has the capacity to manufacture competitively.
At the Umunya facility, the executive director of Kojo Motors, Chinedu Oguegbo, said the company was concentrating on commercial vehicles designed for Nigeria’s transport needs.
He said the company had begun benefiting from the government’s local vehicle procurement policy but had faced challenges arising from the sharp depreciation of the naira and exchange-rate fluctuations.
Oguegbo added that the company was developing its natural gas facility, which he expected to become operational in the future. He also expressed optimism that the company’s Omma Bus brand could eventually be exported to international markets.
NADDC Director-General Oluwemimo Joseph said the inspection was intended to give the council first-hand knowledge of the challenges confronting local vehicle manufacturers.
He explained that the council was reviewing existing policies and working on proposed legislation to improve the operating environment for the industry.
According to him, information gathered during the visits would help the council develop measures to address manufacturers’ concerns and identify vehicle components that could be produced locally.
Joseph said Nigeria had numerous small and medium-sized enterprises capable of supplying components to the automotive industry, adding that stronger partnerships could create new business opportunities and reduce dependence on imported parts.
He also acknowledged concerns about the effect of imported used vehicles on local manufacturers, noting that the council was considering measures to address the competitive disadvantages faced by domestic producers.
NADDC Chairman, Chief Emma Eneukwu, said the council was advocating legislation to protect local vehicle manufacturers from the influx of imported used cars.
He argued that local producers needed a more supportive policy environment to compete effectively and expand production.
The Federal Government’s broader CNG and electric mobility programme is designed to reduce transport costs by encouraging the deployment of vehicles powered by alternative energy sources. However, the impact on passenger fares will depend on the availability of vehicles, refuelling infrastructure, operating costs and the extent to which transport operators pass savings on to commuters.
The Anambra visits form part of efforts to strengthen local manufacturing, encourage investment and improve the availability of vehicles for Nigeria’s public transportation system. While the collaboration could support cheaper transport over time, the visits did not announce a specific new fare reduction or implementation timetable.
FG Moves to Expand CNG Vehicle Production, Targets Cheaper Transport Fares
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