Business

FG Settles for 30-60% telecom tariffs hike

He said: “The telecommunications sector contributes over 16 percent to our GDP, employs thousands of Nigerians, and is essential to the nation’s digital economy.

Published

2 years ago

January 16, 2025

OCHEFA

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The federal government has proposed a 30-60% increase in telecom tariffs to sustain the critical telecommunications sector while ensuring affordability for Nigerians.

The Minister of Communications and Digital Economy, Dr. Bosun Tijani, who disclosed this in a public statement, said that the recommendations from independent consultants, including KPMG, had been received.

He rejected the demands by operators for a 100 per cent hike.Dr. Tijani explained that the government was considering a more moderate increase to strike a balance between affordability for consumers and the sustainability and continued growth of the sector.

He said: “The telecommunications sector contributes over 16 percent to our GDP, employs thousands of Nigerians, and is essential to the nation’s digital economy.

However, it is crucial to ensure that services remain accessible to consumers while maintaining the sector’s viability.

He said that the Nigerian Communications Commission, NCC, was overseeing the process, with recommendations based on data-driven analysis.

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

132 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

171 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.