Business

FG Says “No to 100% Tariffs Hike by Telcos”

“I know that Nigerians are agitated to hear the exact percentage approved. There are still some stakeholder engagements that we are going through, but you will hear from us within a week or two.

Published

1 year ago

January 9, 2025

OCHEFA

431 Views

The Federal Government has approved the planned hikes in telecom tariffs by MTN, Airtel, Globacom, and 9mobile, but it will not be the 100 percent that telecom operators are pushing for at the moment.

This was the outcome of a stakeholders’ meeting with Mobile Network Operators (MNOs) with the Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, on Wednesday in Abuja.

The Minister disclosed during the consultations and engagements meeting that the Nigerian Communications Commission (NCC), would soon approve the new tariffs and make it public to Nigerians.

He said: “You have seen over the past weeks that there has been agitation from some of these companies to increase tariff. They are requesting for 100 percent tariff increase.

“But it will not be by 100 percent. We are still looking at that study and NCC will come up with a clear directive on how we will go about it.

“We want to strike the balance as a government to protect our people, but also protect and ensure that these companies can continue to invest significantly.

“We need to ensure that as a sector, we get our acts together, ensure that from the regulation side, we put the right regulations in place that can ensure the growth of this sector.”

The Minister also noted that the Federal Government would no longer leave investments in infrastructure in the sector to private companies alone.

As a country, over time, we have left these investments in the hands of the private sector. They typically invest where they can see returns in the short to medium term.

“We will not want this conversation to just be about tariff increase. I think what the world is talking about today is meaningful connectivity.

The Executive Vice-Chairman (EVC) of the NCC, Dr Aminu Maida, said that the meeting with stakeholders was about the sustainability of the industry.

“We have looked at all of these factors, and that is why, as the Minister said, it is not likely that we are going to approve a 100 percent tariff increase.

“I know that Nigerians are agitated to hear the exact percentage approved. There are still some stakeholder engagements that we are going through, but you will hear from us within a week or two.

” He said that the NCC had put some tools and instruments into place by revising its quality of service regulations for compliance service quality. He said that the MNOs must comply with simplified templates to show Nigerians charges per minute for voice calls, SMS, and a megabyte of data.

We are moving away from the regime where you will have a main rate, then you will now have a bonus which is at a different rate.

“It makes it often complicated for Nigerians to understand what they are being charged for.

“This is one of the things when we took a lot of time over the past year looking at data there is this agitation that the MNOs are stealing our data,” he said

The CEO of Airtel Nigeria, Dinesh Balsingh, represented by Femi Adeniran, Airtel media spokesperson, noted that for the telecoms commitment to delivering superior connectivity and fostering digital inclusion, there is need for tariff increments.

“The economic realities of rising operational and capital costs necessitated the proposed tariff adjustments.

This is aimed to ensure the long-term sustainability of the sector while unlocking significant benefits for Nigerian consumers,” he said.

Related Topics:Featured Tariff Hike Telecom tariffs

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Business

Tony Elumelu’s United Capital Secures approval to operate in Ethiopia

Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.

Published

5 hours ago

June 9, 2026

OCHEFA

5 Views

United Capital Group has again secured regulatory approvals to commence operations in Ethiopia.

Its Chairman, Tony Elumelu, broke the news on Tuesday, via his official X.

” This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets,” said Elumelu.

Last month, United Capital commenced operations in Rwanda, marking its formal entry into East Africa and reinforcing its ambition to build a leading continental financial services institution.

The Group’s newly established entities include United Capital Trustees Rwanda Limited, licensed to provide trusteeship services, and United Capital Financial Services Rwanda Limited, licensed to offer investment management services, including portfolio management, investment advisory, capital mobilisation, capital market advisory, and fund management solutions.

With this development, United Capital now operates in 11 countries, including Nigeria, with a strong presence in key African markets, a recent expansion into the eight countries within the West African Economic and Monetary Union (WAEMU) region, alongside a growing footprint in East Africa.

According to Elumelu, African institutions are increasingly leading, competing, and succeeding across the continent.

For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.

That narrative is beginning to change.

This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.

Business

Lagos developing world – class new business district —Sanwo-Olu

Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Published

8 hours ago

June 9, 2026

OCHEFA

15 Views

• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.

Speaking yesterday at the third edition of the Invest Lagos Summit, attended by Vice President Kashim Shettima, other governors, foreign investors, development finance institutions and business leaders, Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Sanwo-Olu said that the state had recorded significant economic progress in recent years through targeted reforms across transportation, digital infrastructure and industrial development.

Highlighting key infrastructure achievements, Sanwo-Olu cited investments in road networks, waterways and rail transportation, describing them as critical enablers of economic growth and investor confidence.

The governor noted that Lagos was increasingly serving as a gateway to African markets and global capital, positioning itself at the centre of continental trade under the African Continental Free Trade Area (AfCFTA).

According to him, Lagos remains one of the continent’s most strategic economic hubs, with a population exceeding 25 million and a gross domestic product steadily approaching the $300 billion mark.