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 Foundation Takes Over Aliko Dangote Skills Acquisition Centre Kano
Under the agreement, the Foundation will manage the multi-million naira facility for a number of years and operate programmes aimed at equipping young people with technical, digital and industrial skills.
The Aliko Dangote Foundation has taken over the management of the Aliko Dangote Skills Acquisition Centre in Kano state.
The Memorandum of Understanding was signed between the Foundation and the Kano State Government, on Friday.
Under the agreement, the Foundation will manage the multi-million naira facility for a number of years and operate programmes aimed at equipping young people with technical, digital and industrial skills.
Chairman of the Manufacturers Association of Nigeria (MAN), Kano-Jigawa Branch, Muhammad Bello Isyaku Umar, described the intervention as “far-reaching and impactful,” saying skills acquisition remained one of the most effective ways of addressing youth unemployment in Nigeria..
“Programmes such as the Aliko Dangote Skill Acquisition Centre can equip young people with practical skills that enable them to become entrepreneurs, artisans or employees. The emphasis should increasingly be on modern technical, digital and industrial skills,” Umar said.
He described Kano as the economic and commercial hub of northern Nigeria and said the Foundation’s interventions across the region had extended to several sectors.
Business
Okin Biscuits Set For Comeback After 17 Years, Targets Revival Of Jobs, Local Manufacturing
Founded in the 1980s by the late Chief Emmanuel Olatunji Adesoye, an illustrious son of Offa, Okin Biscuits grew into a household name with products including Okin Coasters, Shortcake and Okin Cabin Biscuits.
By Ochefa
After 17 years off the shelves, Okin Biscuits, one of Nigeria’s once-popular indigenous biscuit brands, is set to return to production as efforts intensify to revive the Ijagbo, Kwara State-based factory.
The planned comeback marks a significant attempt to restore one of the country’s old manufacturing brands while potentially reopening a major source of employment and economic activity in the community.
Founded in the 1980s by the late Chief Emmanuel Olatunji Adesoye, an illustrious son of Offa, Okin Biscuits grew into a household name with products including Okin Coasters, Shortcake and Okin Cabin Biscuits.
At its peak, the company provided direct and indirect employment to more than 2,000 people before production was eventually halted in 2009.
The shutdown reflected some of the structural problems that have continued to undermine Nigeria’s manufacturing sector, including harsh operating conditions, intense competition, inadequate infrastructure, vandalism and the theft of critical production equipment.
With the factory no longer producing, its products gradually disappeared from retail outlets and homes in Kwara, Lagos and other parts of the country.
Factory Undergoing Major Rehabilitation
However, the industrial facility is now showing signs of renewed activity.
A visit to the factory in Ijagbo showed that extensive rehabilitation work is underway across the complex.
The main factory building, which houses the production machinery, as well as the administrative block and other facilities, are undergoing comprehensive renovation.
The premises have already assumed a significantly different appearance, suggesting that the revival project has moved beyond plans and into physical reconstruction.
The management recently announced through its official Facebook page that production machinery was being test-run.
It said biscuits rolled off one of the rehabilitated production lines on August 25, 2026, marking the first production from the factory in 17 years.
The development is significant not merely as the return of a nostalgic consumer brand, but as an example of how the rehabilitation of abandoned industrial assets could contribute to renewed domestic production and employment.
For Nigeria, where manufacturers continue to contend with high energy and logistics costs, infrastructure constraints, foreign exchange pressures and strong competition from imported products, the reopening of an existing manufacturing facility could offer a potentially faster route to industrial capacity expansion than building an entirely new factory.
Community Backs Revival
…biscuits rolled off one of the rehabilitated production lines on August 25, 2026, marking the first production from the factory in 17 years.
The planned resuscitation has also attracted strong support from the Offa community.
The Aare Bobaselu of Offa, Chief Abdulatif Adekunle Ajeigbe, described the development as “heartwarming,” linking it to the broader Offa Mega City project championed by the Olora of Offa, Oba Muftau Mohammed Gbadamisi, Esuwoye II.
According to him, members of the community had made several efforts to revive the moribund factory, including exploring the possibility of group financing.
“We did our best to see that the factory came back to life, but it was the children of the late Asiwaju of Offa and the founder of the factory, Chief Emmanuel Olatunji Adesoye, who insisted on carrying on their father’s legacy through the factory,” he said.
Ajeigbe commended the founder’s children for their determination to preserve the family’s industrial legacy and bring the factory back into operation.
More Than A Brand Revival
The return of Okin Biscuits also highlights the wider economic value embedded in Nigeria’s abandoned industrial assets.
The company’s earlier success created employment not only within the factory but across its supply and distribution networks, including raw-material suppliers, transporters, distributors, retailers and other service providers.
A successful reopening could therefore have an economic impact extending beyond the factory gates, particularly if production eventually returns to significant capacity.
The bigger test, however, will be whether the revived company can operate sustainably in an increasingly competitive Nigerian consumer market.
The new investors will have to contend with production costs, energy supply, distribution challenges, consumer purchasing power and competition from both established domestic manufacturers and imported brands.
For Okin, the challenge is therefore not simply to restart the machines, but to build a commercially viable manufacturing operation capable of sustaining production, protecting jobs and reclaiming market share.
If successful, the return of Okin Biscuits could become more than a nostalgic homecoming for Nigerian consumers.
It could provide a practical demonstration that some of the country’s dormant industrial assets can be rehabilitated, modernised and returned to productive use.
After 17 years of silence, the sound of Okin’s production lines running again may therefore signal the beginning of a new chapter for one of Nigeria’s forgotten manufacturing brands.
Business
Dangote to launch Refinery’s IPO September 14 or 16
Dangote disclosed this on Thursday while speaking to investors and analysts in Botswana.
Aliko Dangote, chief executive officer (CEO) of the Dangote Group, says the initial public offering (IPO) of Dangote refinery will open in the next 10 to 12 days.
Dangote disclosed this on Thursday while speaking to investors and analysts in Botswana.
The refinery had announced plans to launch a Pan-African IPO, offering at least 10 percent of its refining business to fund a $40 billion expansion objective.
On August 18, the refinery said it had completed a $1 billion underwriting programme ahead of the planned IPO.
Speaking during his visit to the southern African country, Dangote said his ambition was to double the refinery’s capacity.“So our dream is that we want to make sure we double the capacity of the refinery… which will take us to 1.4 million barrels per day. The IPO will open in the next 10 to 12 days,” he said.
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