Business

NLC threatens to shut down telecom services nationwide on February 4 Over 50% tariffs hike

The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.

Published

2 years ago

January 30, 2025

OCHEFA

575 Views

▪︎ NLC President, Joe Ajaero

The Nigeria Labour Congress (NLC) warns that unless the 50 percent telecom tariff hike recently approved by the Federal Government, is reviewed downward, it will embark on a nationwide mass rally on February 4 .

The NLC therefore urges the Ministry of Digital Economy and Innovation and the Nigeria Communication Commission (NCC), to engage in meaningful dialogue with critical stakeholders to review the proposed tariff adjustment.

Mr Joe Ajaero, NLC President, said that should this not be heeded, the Nigeria Labour Congress will escalate its actions, including the possibility of a nationwide boycott of telecommunication services.

“Others are further mass actions that may involve nationwide withdrawal of our service to resist policies that exacerbate poverty and inequality,” he said.

In a communique issued at the end of the Congress’s National Administrative Council (NAC) meeting held on Wednesday in Abuja, Ajaero said that the NAC in session totally rejected the 50 percent telecom tariff hike as it was considered too harsh for the citizens.

“To express our collective opposition to this arbitrary tariff hike, the NLC will embark on a nationwide mass rally on Tuesday, February 4, 2025.

“The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.

“A population that has suffered outrageous hike in the price of petrol, high cost of food, hike in electricity tariff, and general rising inflation.

All NLC affiliates and state councils are directed to begin full mobilisation in preparation for the February 4, 2025, nationwide protest rally.”

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

133 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.