Telecom operators announce new data prices after 50% tariff hike

Telecom operators in Nigeria have introduced revised data prices after the Nigerian Communications Commission (NCC) approved a 50% tariff increase.

The NCC announced the tariff hike on Monday, enabling operators to adjust their pricing structures accordingly.

Leading providers such as MTN, Glo, Airtel, and 9mobile have released updated rates.

For MTN, the price for 25GB of data now stands at ₦9,750, up from the previous ₦6,500. Similarly, 10GB, 5GB, and 1GB now cost ₦5,250, ₦2,250, and ₦525, respectively, compared to their earlier prices of ₦3,500, ₦1,500, and ₦350.

Airtel’s 23GB data plan has risen to ₦9,000 from ₦6,000, while 10GB is now ₦4,500, an increase from ₦3,000.

9mobile has adjusted its 22GB data plan to ₦7,500, up from ₦5,000, while 9.5GB is now ₦3,750, previously ₦1,500.

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For Glo subscribers, the price for 24GB has increased to ₦7,500 from ₦5,000, while 10.8GB now costs ₦3,000, up from ₦2,500.

The tariff review has sparked reactions from users, as the increased rates reflect a significant rise in data costs nationwide.

The latest increase in data prices by telecom operators in Nigeria comes on the heels of the NCC’s approval of a 50% tariff hike, a decision that has sparked significant public and industry reactions.

This move is part of efforts by telecom operators to align their pricing structures with the rising costs of operations, which they attribute to inflation, increased fuel prices, foreign exchange fluctuations, and the rising cost of infrastructure maintenance.

While the NCC has justified the increase as necessary for the sustainability of the sector, it has raised concerns among Nigerians already grappling with the high cost of living.

This development underscores the ongoing challenges in balancing affordability for consumers with the viability of telecom operations in Nigeria’s complex economic environment.

Telecom operators announce new data prices after 50% tariff hike

NNPC sells petrol N960/litre in Lagos, N990 Abuja

The Nigerian National Petroleum Company Limited has increased its petrol pump price to N960 per litre in Lagos and N990/litre in Abuja.

The product was as of Monday and Tuesday morning sold at N925 in Lagos and N965 in Abuja.

This came after Dangote refinery had announced N970 retail price for petrol at any MRS filling station, Ardova and Heyden.

The price adjustment also followed the rise in crude oil cost lately at the international market.

Many NNPC stations in Lagos and Ogun on Tuesday sold petrol at N925/litre until noon when the price was increased.

For instance, the NNPC at Alapere and others in Lagos started selling the product at N960 around 3pm Tuesday.

Already, major and independent marketers have increased petrol price to N1,030 per litre.

In Abuja, filling stations located along Airport Road, Central Area and Nyanya in Abuja also increased their retail cost to N1,000 and 1,030 per litre.

For instance, AYM Shafa and Matrix filling stations along the airport road sold at N1,000 per litre while Shema station sold at N1,030.

A report by The Punch quoted an oil and gas expert, Olatide Jeremiah, as saying the refinery, depot and pump price changes are a reflection of market forces and the full deregulation of the petroleum sector.

He said, “The refinery, depot and pump price changes are a reflection of market forces and a testament to the petroleum sector being deregulated. Deregulation is one major solution to fuel scarcity and hike in pump prices.

“This hike is temporary; it’s an effect of former President Biden’s ban on Russian oil companies. As of this morning, Brent crude oil prices fall to $80 per barrel as Trump assumes the Presidency.”

However, Brent crude oil futures dropped to $79.98 per barrel on Monday, from $81 last Friday.

Brent crude for March delivery was down 1.5 per cent to trade at $79.66 per barrel at 11.20 am ET while WTI crude for February delivery declined 1.8 per cent to $76.46 per barrel.

But following the Trump inauguration on Monday, the Brent crude rose again marginally to $80.05.

The US under Joe Biden, the immediate past president, had intensified sanctions on Russia, imposing heavy fines on its vessels.

Eko DisCo sells 60% stake to Transgrid Enerco

Transgrid Enerco Limited has signed a share purchase agreement (SPA) with Eko Electricity Distribution Company (Eko DisCO) to acquire a 60% equity stake in the DisCO, Nigeria’s second-largest electricity distribution company.

Transgrid Enerco Limited was formed by North South Power Company Limited (NSP), Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund (SIIF).

The agreement was signed on Tuesday January 21, 2025, and the transaction will be completed in April 2025.

Reports earlier this month indicated that West Power and Gas Ltd (WPG), the parent company of Eko DisCo, was close to selling its entire stake after the North-South Power, Axxela, and Stanbic Infrastructure Fund consortium won the bid to acquire it.

It was stated that the bid to acquire Eko Disco started a year ago. While the amount in the deal was not stated, it is believed to be in excess of $200 million according to this news report.

Two of the companies — NSP and Axxela Limited — that formed the Transgrid Enerco consortium are in the Energy sector.

The NSP which owns Shiroro Dam will get direct control and insight into Eko DisCo’s operations enabling it to have a clear scope of the company’s cash flow distribution.

While Eko Disco meets remittance obligations to the market, the inability of other DisCos to meet these obligations means that power-generating companies like NSP do not get their full payments.

This acquisition allows NSP to have better control of how the company collects payment and perhaps influence other DisCos to employ more efficient payment collection tactics.

A similar deal occurred in 2023 when a Transcorp-led consortium — owners of Ughelli Power Plant — acquired 60% majority stake in Abuja DisCo.