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
BUA Foods Plc Reports Strong 2025 Performance with ₦1.77 Trillion Revenue, Proposes Record ₦28 Dividend per Share
Leading Nigerian food manufacturer BUA Foods Plc has announced robust full-year 2025 audited results, with revenue climbing 16% to ₦1.77 trillion from ₦1.53 trillion in 2024.
The growth was driven by sustained consumer demand for the company’s core staples sugar, flour, pasta, and rice alongside higher sales volumes and strategic pricing amid a challenging economic environment marked by inflationary pressures on households.
Profit after tax nearly doubled, rising 95% to ₦518.4 billion, while gross profit surged to ₦737.3 billion from ₦540.8 billion the previous year.
Operating profit also increased significantly to ₦656.6 billion.In a strong signal of confidence in its outlook and commitment to shareholder value, the Board of Directors has proposed a final dividend of ₦28 per ordinary share of 50 kobo.
This represents a 115% increase from the ₦13 per share paid in 2024, translating to a total payout of approximately ₦504 billion, subject to approval by shareholders at the company’s 2026 Annual General Meeting.
Chairman Abdul Samad Rabiu highlighted the results, stating that the substantial dividend hike underscores the company’s dedication to rewarding investors while continuing to invest in business expansion and operational efficiency.
BUA Foods, a major player in Nigeria’s food processing sector controlled by billionaire Abdul Samad Rabiu, has continued to benefit from scale advantages, market expansion, and resilient demand for essential food products despite broader economic headwinds.
The company’s shares have reacted positively in recent trading, reflecting investor optimism over the strong earnings and generous dividend proposal.
Full details of the financial statements were filed with the Nigerian Exchange (NGX) on Monday.
Analysts view the performance as a testament to BUA Foods’ robust business model and ability to navigate Nigeria’s macroeconomic challenges through volume growth and cost discipline.
Business
OPay launches new office in Jos
” Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
OPay has officially launched its new office in Jos, Plateau State.
Speaking at the event, OPay’s Chief Operations and Technology Officer, Dotun Adekunle, said that the new Jos office reflects OPay’s continued commitment to putting customers first and advancing financial inclusion across Nigeria.
He said :” Our customers are at the center of everything we do.
Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
Business
Governor Otti Commissions Ultimum Manufacturing Plant in Aba
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State.
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Located in the Osisioma Industrial Layout, the new plant was commissioned by the Governor of Abia State, Dr. Alex Chioma Otti.
Otti described the investment as a clear signal of economic revival and growing investor confidence in Abia State.
“This investment confirms that we are creating the right conditions for businesses to grow, thrive, and succeed. Investors will always go where there is clarity, stability, and opportunity.
Our focus has been to build that environment, and today’s commissioning shows that the strategy is working,” he said.
The Chairman of Ultimum Limited and representative of the investor group, Mr. Whalen Kadji, emphasized the company’s long-term commitment to Aba and Nigeria.
“We did not come here by chance. We came because of the energy and entrepreneurial spirit of Aba. This city has always been a center of enterprise, and we believe strongly in its future.
This plant is more than an investment in beverages; it is an investment in people, in jobs, and in the growth of local industry. We are here for the long term, and this is just the beginning of what we intend to build here.”
The Managing Director of Ultimum Limited, Mr. Austin Ufomba, described the plant as a bold step in the company’s journey.
“Ultimum Limited started with a simple idea, to build world-class products right here in Africa,”he said.
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