Business
Hardship: Nationwide protest looms as Nigerians reject telecom tariff increase
A nationwide protest is currently brewing in Nigeria following the recent approval by the Nigerian Communications Commission, NCC, for telecommunication operators to increase tariff by 50%.
Following the mounting financial struggles birthed by the devaluation of the naira and increasing operational costs in Africa’s most populous nation, telecom operators like MTN and Airtel had demanded a 100% tariff increase.
However, the Minister of Communications and Digital Economy, Bosun Tijani, on Monday, January 20 announced the approval of a 50% tariff increase.
By the time the Mobil Network Operators implement the approved tariff, Nigerians are expected to pay N16.5 per minute for calls from N11, the cost of SMS to N6 from N4, and the cost of 1 gigabit of data – N431.25.
There are, however, stiff oppositions from some stakeholders, who argued that the increment is coming at the wrong time, citing the economic hardship bedeviling the nation at the moment.
Recall that the Nigeria Labour Congress, NLC had, while reacting to the proposed tariff increase, rallied Nigerians to reject “another harsh burden”, threatening to mobilize workers to boycott telecom services.
Similarly, the Trade Union Congress of Nigeria, TUC described the tariff scheduled to begin in February as outrageous, lamenting that it will worsen the harsh living conditions of workers and Nigerians.
Halt the tariff hike now – Yunusa Tanko tells FG
In an exclusive interview on Saturday, the National Coordinator, OBIDIENT Movement Worldwide, Dr. Yunusa Tanko urged the Federal Government to halt the tariff increase, saying it is a “wrong timing, wrong action and wrong choice”.
According to him, a “50% tariff increase by the NCC at this time is only a final burial to the already struggling economy.
“All sectors of the economy need adequate communication to keep up with their game; the outturn will be spontaneous”.
Yunusa lamented that there “was an influx of 14 million Nigerians into poverty in one year, caused by uninformed government policies and poor economic decisions”, stressing that the country has “never experienced this height of surge since her independence”.
Business
Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses
The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.
Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.
LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.
The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.
The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.
The authority also operates high-capacity and medium-capacity electric buses.
Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.
“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.
The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.
For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.
Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.
“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.
Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.
Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.
Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.
Business
Naira Rates To Dollar, Pound ,Euro… Friday, October 2
BLACK MARKET RATES
₦1375DOLLAR (USD)
₦1845 POUND (GBP)
EURO (EUR) ₦1550
₦1000 CANADIAN DOLLAR (CAD)
₦70 SOUTH AFRICAN RAND (ZAR)
₦370 UAE DIRHAM
₦190 CHINESE YUAN (CNY)
₦100 GHANA CEDI (GHS)
₦2350 CFA F.(XOF)
₦2250 CFA F.(XAF)
₦850 AUSTRALIAN DOLLAR (AUSSIE)
Official CBN Exchange Rates
DOLLAR (USD)₦1329.16
POUND (GBP)₦1766.59
EURO (EUR) ₦1510.06
SWISS FRANC (CHF) ₦1593.91
JAPANESE YEN (JPN)₦8.47
CFA FRANC (XOF) ₦2.30
WEST AFRICAN UNIT OF ACCOUNT (WAUA) ₦1807.23
CHINESE YUAN (CNY) ₦198.25
SAUDI RIYAL (SAR) ₦353.97
SOUTH AFRICAN RAND (ZAR) ₦81.18
Business
Obasanjo: “Aliko Embarrass Me”
He got all his workers together in that refinery and said, without telling me, and there, said…
Former President of Nigeria, Olusegun Obasanjo, has described Aliko Dangote as his “boss”, crediting the businessman’s industrial achievements to the policies and encouragement provided by his administration.
Obasanjo said this while speaking at the groundbreaking ceremony of the Dangote East Africa Refinery in Lamu, Kenya, where he recalled his recent visit to the Dangote refinery and the businessman’s acknowledgement of the role he played in his transition from cement importation to production.
He said, “About two months ago, three months ago, I visited the refinery which you visited last week. And I just couldn’t stop being surprised what Aliko did. But then Aliko embarrassed me.”
According to Obasanjo, Dangote had gathered his workers during the visit and publicly attributed part of his success in cement production and the eventual development of his refinery to the policies and encouragement of the former president.
He said, “He got all his workers together in that refinery and said, without telling me, and there, said, all of you working here, all of you, the man you have to thank is this man, that’s me. I didn’t have anything to do with his refinery or what it is.
He said, without this man, I would not have been in cement production.“And it is the cement production that provided the encouragement, the inspiration for the refinery. So, thank you. They all shouted and thanked me.”
Obasanjo said Dangote had expanded the opportunities created by his administration beyond Nigeria, particularly through cement production across Africa, and was now replicating the model in the petroleum refining sector.
“May God continue to expand your coast. And you are my boss. You will continue to be my boss.”
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