Business
MTN increases price of N2k data to N6k
MTN increases price of N2k data to N6k
Nigerians have expressed outrage as telecoms giant, MTN increased price of data, calls and other services.
On Tuesday morning, February 11, 2025, many subscribers in Nigeria took to social media to criticise the increase, calling it exploitative and unfair, especially amid rising economic hardships.
Apparently, the weekly data package of 15GB which initially cost N2,000 only days ago unexpectedly surged to a whooping N6,000
An user, @gbolahan2211 said: “Imagine MTN @MTNNG increasing their tariff 15gb overnight without prior notice to customers. This is no way to do things man. I even sent them a message and they told me cause they wanna serve me better. Damn!!”
Another user @GIFTy6286 wrote: “If they like they should increase it to 1m,we will survive”
@AfrokonnectNG reacted: “This sudden price increase from ₦2,000 to ₦6,000 for 15GB is wild! How are people supposed to cope with such an outrageous hike? Internet access is essential for work, education, and staying connected, yet it’s being priced like a luxury.
“At this rate, users may be forced to look for alternatives or reduce their data consumption drastically. MTN really needs to reconsider this move because it’s not sustainable for the average Nigerian. What do you think about this development?”
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@Gorilla23mp asked: “But this is almost 200% increment, I thought they said it won’t be up to 100%?”
@TheSilvapr lamented; “Nigeria is a very difficult place to live in honestly. MTN waking up one day to increase their weekly 15gb data from 2k to 6k without prior warning is textbook insanity.
“That’s 24k in a month, almost the minimum wage of the country on data, bruh, this is hell.”
While the telecom giant has yet to comment on the situation, observations suggest it may have begun implementing the 50% tariff hike approved by the Nigerian Communications Commission (NCC).
Recall that on January 20, the NCC in a statement by its Director of Public Affairs, Reuben Muoka, said implentation of the 50% tariff hike will begin in February, adding that the adjustment, though lower than the over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability.
“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the Commission’s standard practice for tariff reviews. It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024.
“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators. The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised”, the NCC said.
However, the NLC rejected the tariff hike and demanded a reduction to five per cent, threatening a nationwide protest if its demands were not met.
It condemned the hike as insensitive and unjustifiable, arguing that it would impose an extra burden on Nigerian consumers.
The union’s president, Joe Ajaero, reiterated its demand for a significant reduction after the National Administrative Council meeting of the NLC.
The NLC scheduled a protest for Tuesday but suspended the action after discussions with representatives of the Federal Government.
Following extensive deliberations, both the NLC and the government agreed to set up a 10-member committee—comprising five representatives from each side—to review the issue and submit a report within two weeks.
Meanwhile, the Trade Union Congress, TUC, has threatened to down tools if the Federal Government does not rescind its approval of the 50 per cent tariff increase.
TUC condemned the proposed hike, calling it ill-timed and a deliberate act of economic oppression against Nigerians.
MTN increases price of N2k data to N6k
Business
MTN, Airtel to share network infrastructure in Nigeria
MTN, Airtel to share network infrastructure in Nigeria
Airtel Africa has partnered with MTN Group to expand digital inclusion by sharing network infrastructure in Uganda and Nigeria.
In a statement in Lagos on Wednesday, Airtel said the sharing agreements aim to improve network cost efficiencies, expand coverage, and provide enhanced mobile services to millions of customers.
A sharing agreement is a formal arrangement between two or more parties to share resources, assets, or services.
According to the telecommunications company, the partnership will benefit customers in remote and rural areas who do not yet fully enjoy the benefits of a modern connected life.
Airtel assured that both parties will ensure the agreement complied with local regulatory and statutory requirements.
Sunil Taldar, chief executive officer (CEO) of Airtel Africa, said telecommunications companies are driving digital financial inclusion by building common infrastructure within the regulatory framework.
Taldar noted that the collaborative approach not only advances digital transformation and financial inclusion but also reduces the duplication of expensive infrastructure.
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As a result, Taldar said operational efficiencies are boosted, ultimately benefiting customers.
He further said telecoms continue to compete fiercely in the market, differentiating themselves through their brand, services, and offerings.
“The initiative is part of a growing global trend toward network sharing. By collaborating, telecoms operators can explore innovative and pro-competitive solutions to improve service quality while managing costs more effectively,” Taldar said.
“The sharing of infrastructure has the potential to enable the delivery of world-class, reliable mobile services to more and more customers across Africa.”
Taldar added that following the conclusion of agreements in Uganda and Nigeria, MTN and Airtel Africa are also exploring various opportunities in other markets, including Congo-Brazzaville, Rwanda, and Zambia.
Ralph Mupita, MTN Group CEO, said there is a need to invest in coverage and capacity to ensure high-quality connectivity to meet customers’ increasing demands.
“As MTN, we are driven by the vision of delivering digital solutions that drive Africa’s progress,” Mupita said.
“We continue to see strong structural demand for digital and financial services across our markets.
“To meet this demand, we continue to invest in coverage and capacity to ensure high-quality connectivity for our customers.”
Mupita added that there are opportunities within regulatory frameworks for sharing resources to drive higher efficiencies and improve returns.
MTN, Airtel to share network infrastructure in Nigeria
Business
NNPCL in historic initial public offer, ready for capital market
NNPCL in historic initial public offer, ready for capital market
The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is in the final stages of preparation for its much-anticipated listing on the capital market, in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement on Thursday in Abuja.
According to the statement, the Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, revealed the development during a consultative meeting with partners at the NNPC headquarters.
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He stated that NNPCL is currently engaging with potential investors through an exercise called the “NNPC Ltd. IPO Beauty Parade,” which aligns with capital market regulations ahead of its Initial Public Offer (IPO).
“According to the CFIO, the aim of the IPO Beauty Parade is to access potential partners and determine in what ways they could be of support to the company,” the statement explained.
The statement further highlighted that NNPCL is seeking partnerships in three key areas: Investor Relations, IPO Readiness Advisors, and Investment Banking Partners. Companies with the most competitive offers will be selected for each category.
An IPO is a public offering in which a company’s shares are sold to institutional investors. Under the PIA, NNPCL is required to list its shares on the capital market in compliance with the Companies and Allied Matters Act (CAMA) 1990.
NNPCL in historic initial public offer, ready for capital market
Business
Naira rises to N1,560/$ in parallel market
Naira rises to N1,560/$ in parallel market
The Naira yesterday appreciated to N1, 560 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,540 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,540 per dollar from N1,539 per dollar on Wednesday, indicating N1 depreciation for the naira.
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