Business
NLC threatens to shut down telecom services nationwide on February 4 Over 50% tariffs hike
The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.
▪︎ NLC President, Joe Ajaero
The Nigeria Labour Congress (NLC) warns that unless the 50 percent telecom tariff hike recently approved by the Federal Government, is reviewed downward, it will embark on a nationwide mass rally on February 4 .
The NLC therefore urges the Ministry of Digital Economy and Innovation and the Nigeria Communication Commission (NCC), to engage in meaningful dialogue with critical stakeholders to review the proposed tariff adjustment.
Mr Joe Ajaero, NLC President, said that should this not be heeded, the Nigeria Labour Congress will escalate its actions, including the possibility of a nationwide boycott of telecommunication services.
“Others are further mass actions that may involve nationwide withdrawal of our service to resist policies that exacerbate poverty and inequality,” he said.
In a communique issued at the end of the Congress’s National Administrative Council (NAC) meeting held on Wednesday in Abuja, Ajaero said that the NAC in session totally rejected the 50 percent telecom tariff hike as it was considered too harsh for the citizens.
“To express our collective opposition to this arbitrary tariff hike, the NLC will embark on a nationwide mass rally on Tuesday, February 4, 2025.
“The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.
“A population that has suffered outrageous hike in the price of petrol, high cost of food, hike in electricity tariff, and general rising inflation.
All NLC affiliates and state councils are directed to begin full mobilisation in preparation for the February 4, 2025, nationwide protest rally.”
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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