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.
Business
Dangote Refinery Ship 456,000 tonnes of PMS to African countries in February
The exports arrive at a moment of acute disruption in global energy markets, with several African countries that have historically depended on large refineries in the Persian Gulf now looking to Dangote as an alternative source.
The Dangote Petroleum Refinery has completed the sale of 12 cargoes of refined petroleum products totalling 456,000 tonnes to neighbouring African countries in February.
In a statement, the Refinery said that the shipments, sold on a free-on-board basis to international traders, have been delivered to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo — a spread that signals the refinery’s ambitions extend well beyond its West African neighbourhood.
“This accomplishment underscores the Dangote Refinery’s capability to not only meet but exceed Nigeria’s domestic fuel demands.”
The exports arrive at a moment of acute disruption in global energy markets, with several African countries that have historically depended on large refineries in the Persian Gulf now looking to Dangote as an alternative source.
The refinery has framed its regional role in pointed terms, describing West Africa as a market long regarded as “a dumping ground for lower-quality fuels” and positioning its Euro 5-standard gasoline and diesel as a corrective to that history.
Business
Moniepoint buys Orda to capture Africa’s $50bn restaurant economy
Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.
Photo: Tosin Eniolorunda, Moniepoint co-founder and group CEO
Nigerian fintech company Moniepoint Inc. has acquired restaurant management startup Orda Africa in a move aimed at expanding its reach into Africa’s fast-growing food service industry, a sector estimated to be worth about $50 billion across the continent.
BusinessDay reports that the deal integrates Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing food vendors and restaurants to manage orders, payments, inventory and accounting from a single system.
The acquisition highlights a wider shift among African fintech firms that are moving beyond payments to offer operational tools and credit to small businesses, especially those in the informal economy.
Tosin Eniolorunda, Moniepoint co-founder and group CEO, said that the food sector represents one of the most active but underserved parts of Africa’s economy.
“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, adding that many businesses still rely on manual processes and disconnected tools.
The move reflects a growing competition among financial technology firms to control the digital infrastructure behind small businesses, particularly restaurants, which generate frequent transactions and require working capital.
Africa’s food service market is expanding quickly as urban populations grow and more consumers eat outside the home.
Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.
Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.
The company’s tools help businesses track orders, manage kitchen workflows and monitor stock levels.
Guy Futi, Orda CEO, said joining Moniepoint would allow the company to connect operational data from restaurants with financial services such as payments and credit.
“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers would continue to use the platform while gaining access to new services.
Business
Dangote Petroleum announces N1,245 new price template for marketers
The new pricing, making it the fourth time since the Middle East war began, is set to take effect from midnight on March 21, 2026.
The Dangote Petroleum Refinery has announced a fresh hike in the ex-depot price of its petrol to N1,245 per litre from N1,175 per litre while the coastal price increased from N1,512,648 to N1,606,518 per metric tonne.
The new pricing, making it the fourth time since the Middle East war began, is set to take effect from midnight on March 21, 2026.
In a notice sent to marketers on Friday night the company explained that the revision reflects global market realities, including fluctuations in crude oil prices and increased shipping costs, which are beyond the refinery’s control..
” Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it stated.
The latest adjustment is expected to ripple across the downstream sector, with pump prices likely to rise in the coming days as marketers pass on the increased cost to consumers.
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