Business

NCC approves 50% tariff hike for telecoms

Published

1 year ago

January 20, 2025

306 Views

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.

Business

President Tinubu Receives Nigeria’s Tax Ombudsman, Urges Fairness and Transparency in Tax Administration

Published

16 hours ago

February 5, 2026

Charles Flames

10 Views

President Bola Ahmed Tinubu on Thursday received Dr. John Nwabueze, the Chief Executive Officer of the Nigerian Tax Complaints Commission—widely known as the Tax Ombudsman—at the State House in Abuja.

The meeting, attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, comes as part of ongoing efforts to strengthen Nigeria’s tax reform agenda and build public confidence in the revenue system.

Dr. Nwabueze was appointed by President Tinubu on November 4, 2025, as the pioneer Tax Ombudsman under the Joint Revenue Board of Nigeria (Establishment) Act, 2025.

The legislation establishes the Office of the Tax Ombud (also referred to as the Tax Complaints Commission) to serve as an independent body for investigating and resolving disputes between taxpayers and tax authorities, including complaints related to taxes, levies, customs duties, excise matters, and regulatory charges.

During the audience, President Tinubu charged Dr. Nwabueze to diligently execute his mandate with integrity, impartiality, and professionalism. The President reaffirmed the administration’s commitment to fairness, transparency, and accountability in tax administration, emphasizing that the new office is a critical tool for protecting taxpayers’ rights, reducing arbitrary actions by officials, and fostering voluntary compliance.

The establishment of the Tax Ombudsman is seen as a key pillar of President Tinubu’s broader fiscal reforms aimed at harmonizing revenue administration across federal, state, and local levels, curbing multiple taxation, and creating a more predictable and equitable business environment.

Dr. Nwabueze, a seasoned tax professional from Oshimili South Local Government Area of Delta State, brings extensive experience in tax policy, fiscal advisory, and public service. His background includes roles as Managing Partner of a tax advisory firm, Technical Adviser to National Assembly committees, and adviser to former economic teams.

The new laws empowering the Tax Complaints Commission are expected to enhance taxpayer protection, promote efficient dispute resolution through mediation rather than litigation, and ultimately boost trust in Nigeria’s revenue framework amid the country’s push for sustainable economic growth and improved revenue generation.

Business

Court jails Ex- NEXIM MD Robert Orya for N2.4bn Fraud

Robert Orya was prosecuted by the Economic and Financial Crimes Commission on 49 counts, bordering on breach of trust, fraud, misappropriation, impersonation, corruption, and abuse of office.

Published

19 hours ago

February 5, 2026

OCHEFA

12 Views

•Robert Orya

A High Court of the Federal Capital Territory in Abuja has convicted former Managing Director of the Nigerian Export-Import Bank (NEXIM), Robert Orya, and sentence him to ten years’ imprisonment for fraud involving about ₦2.4 billion.

Robert Orya was prosecuted by the Economic and Financial Crimes Commission on 49 counts, bordering on breach of trust, fraud, misappropriation, impersonation, corruption, and abuse of office.

Justice Frances Messiri delivered the judgment, on Thursday sentenced Orya to ten years on each count, with the terms to run concurrently.

The offences were traced to Orya’s tenure as NEXIM Managing Director between 2011 and 2016, during which he was found to have diverted bank funds through shell companies, including Luxurium Leisure Services Limited.

The court also found that he fraudulently induced the disbursement of loans, including ₦488 million to Treasure Mix Construction Limited, under false pretences.

Orya was first arraigned by the EFCC in November 2021.

Business

South Korea to Produce Electric Vehicles in Nigeria

The project will be implemented in phases, beginning with EV assembly and expanding into full in-house production, with an estimated capacity of 300,000 vehicles.

Published

1 day ago

February 5, 2026

OCHEFA

20 Views

Photo: Minister of State for Industry, John Enoh, and AEDC Chairman,Yoon Suk-hun.

The Federal Government has signed an agreement with South Korea to establish an electric vehicle manufacturing plant in Nigeria.

In a document seen by Ohibaba.com, the Memorandum of Understanding (MoU) was signed by the Minister of State for Industry, John Enoh, and the Chairman of the Asia Economic Development Committee (AEDC),Yoon Suk-hun, for South Korea.

The initiative will accelerate technology transfer, investment promotion, human capital development, and research, design, and innovation.

The project will be implemented in phases, beginning with EV assembly and expanding into full in-house production, with an estimated capacity of 300,000 vehicles and the creation of approximately 10,000 jobs.

Nigeria’s automotive sector faces structural challenges, including limited local component production, high assembly costs, and heavy reliance on imports.

The country imports between 400,000 and 720,000 vehicles annually, with 74–90% being used cars.In 2023, imports reached 700,000 units, with passenger cars valued at $1.05 billion in 2024, making Nigeria one of the world’s largest markets for pre-owned vehicles.

To promote electric mobility, the federal government launched a 20 billion naira ($12 million) consumer credit program in December 2024.

The scheme supports the purchase of locally assembled electric vehicles, motorcycles, and tricycles, partnering with domestic manufacturers including Innoson, Nord, CIG (GAC), PAN, Mikano, Jets, NEV (Electric), and DAG to expand access and foster the growth of a homegrown EV industry