Business
NCC approves 50% tariff hike for telecoms
The Nigerian Communications Commission has approved requests from network operators for tariff adjustments in response to rising operational costs, marking the first change in rates since 2013.
The decision, announced in a statement signed by the Director of Public Affairs, Reuben Muoka, on Monday, allows for a maximum adjustment of 50% to current tariffs, significantly less than the over 100% proposed by some operators.
The NCC said it is exercising its authority under Section 108 of the Nigerian Communications Act, 2003 and emphasised that the new tariffs would remain within the limits outlined in its 2013 Cost Study.
According to the commission, the adjustments will also adhere to its 2024 Guidance on Tariff Simplification, ensuring transparency and fairness in implementation.
“The adjustment, capped at a maximum of 50 per cent of current tariffs, though lower than the over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability.
“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the commission’s standard practice for tariff reviews.
It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024.
“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators.
The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised,” the statement said.
The NCC noted that the adjustment was necessary to sustain investment in infrastructure and innovation, benefiting consumers through improved services, better network quality, and wider coverage.
“This decision was made after extensive consultations with key stakeholders across the public and private sectors,” Muoka stated, adding that the commission prioritised balancing consumer protection with industry sustainability.
While recognising the financial pressures faced by Nigerian households and businesses, the NCC mandated operators to implement the new rates transparently and educate consumers on the changes.
Operators are also required to demonstrate measurable improvements in service delivery as part of the adjustments.
“Recognising the concerns of the public, this decision was made after extensive consultations with key stakeholders across the public and private sectors.
“The NCC has prioritised striking a balance between protecting telecom consumers and ensuring the sustainability of the industry, including the thousands of indigenous vendors and suppliers who form a critical part of the telecommunications ecosystem.
“The NCC recognises the financial pressures faced by Nigerian households and businesses and remains deeply empathetic to the impact of tariff adjustments.
To this end, the commission has mandated that operators implement these adjustments transparently and in a manner that is fair to consumers. Operators are also required to educate and inform the public about the new rates while demonstrating measurable improvements in service delivery,” it added.
The commission underscored its commitment to fostering a resilient and inclusive telecommunications sector.
“Beyond protecting consumers, the commission’s actions are designed to ensure the long-term sustainability of the industry, support indigenous vendors and suppliers, and promote the overall growth of Nigeria’s digital economy,” the statement added.
The NCC assured Nigerians of continued engagement with stakeholders to maintain a telecommunications environment that protects consumers while enabling the ecosystem that drives connectivity across the nation.
Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a disclaimer distancing himself from a purported response circulating online regarding recent corruption allegations levelled against him by billionaire businessman Aliko Dangote.
In a statement titled “DISCLAIMER/CLARIFICATION” personally signed by Ahmed, he categorically denied authoring or authorising any prior public response to the claims.
He said: “My attention has been drawn to a purported response I was said to have made on the recent allegations against my person,” the statement read.
“I hereby state categorically that the so-called statement did not emanate from me.
“Ahmed acknowledged awareness of what he described as “wild and spurious allegations” targeting him and his family, which have sparked significant public attention. However, citing his role as regulator of a sensitive industry, he said he has deliberately avoided engaging in public exchanges or “brickbats.”
“Thankfully, the person behind the allegations has taken it to a formal investigative institution,” Ahmed noted. “I believe that would provide an opportunity to dispassionately distill the issues and to clear my name.
“The disclaimer comes amid escalating tensions in Nigeria’s petroleum sector. Dangote, president of Dangote Industries Limited, recently petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate Ahmed over claims of living beyond legitimate means, including alleged multi-million-dollar expenditures on his children’s education abroad.
The ICPC has confirmed receipt of the petition and stated it will be duly investigated.Ahmed’s statement signals his preference for the matter to be resolved through official channels rather than media debates.
Business
Adesanya joins FrieslandCampina from Guinness Nigeria
Adesanya announced the move on his LinkedIn page, stating, “I’m happy to share that I’m starting a new position as Director of Group Sales at FrieslandCampina.
FrieslandCampina WAMCO has appointed former Guinness Nigeria Commercial Director, Olusanya Adesanya, as its new Group Director of Sales, marking a significant talent shift in Nigeria’s fast-moving consumer goods sector.
Adesanya announced the move on his LinkedIn page, stating, “I’m happy to share that I’m starting a new position as Director of Group Sales at FrieslandCampina.”
Adesanya, regarded as one of the country’s foremost commercial strategists, has been instrumental in Guinness Nigeria’s resurgence.
His exit was confirmed in a statement signed by the company’s Managing Director and Chief Executive Officer, Girish Sharma, who hailed his “twelve remarkable years of positive impact and growth.”
According to Guinness Nigeria, Adesanya joined the company in 2013 as a sales representative and rose through the ranks across the South-East, Lagos and South-West regions, ultimately becoming commercial director in 2023.
Over the years, he led retail expansion initiatives, including the launch of Project REAP, which transformed retail execution and broadened the company’s distribution footprint.
Under his leadership, Guinness recorded double-digit topline growth, improved margins, enhanced trade spend efficiency and strengthened distributor profitability.
His performance earned him several awards, including the African President Awards (2021) and MAD Awards (2014 and 2015).
Business
Senate passes 2026-2028 MTEF/FSP
The Senate also approved the sum of US$64.85 per barrel as the oil benchmark, projected aggregate revenue of N34.33 trillion…
The Senate has approved the sum of N54.46trillion as the federal government’s aggregate expenditure for the 2026 fiscal year.
This followed the passage of the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) during plenary yesterday.
The Senate also approved the sum of US$64.85 per barrel as the oil benchmark, projected aggregate revenue of N34.33 trillion, Fiscal Deficit of N20.13 trillion, borrowings of N17.88 trillion, Debt Service of N15.52 trillion, and Pensions, gratuities, and retirees’ benefits of N1.376 trillion.
The approval of the fiscal document followed the presentation and consideration of the report of the Senate Committees on Finance during plenary.
The report was presented by the Chairman of the Committee, Senator Mohammed Sani Musa (APC – Niger East).
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