- MTN begs Nigerians over 200% data bundle hike, says adjustment was an error
- NLC threatens nationwide strike over tariff hike March 1
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has called for increased backward integration in the telecommunications sector, urging telecom companies to localize key supply chains to reduce dependence on foreign exchange and boost economic growth.
Cardoso made this appeal on Wednesday when he received Airtel Africa’s management team at the CBN headquarters in Abuja.
The delegation was led by the company’s Group Chief Executive Officer, Sunil Taldar.
Cardoso emphasised the necessity for telecom companies to manufacture necessary components like SIM cards, cables, and towers domestically, highlighting the CBN’s work over the previous 16 months to stabilise the foreign currency market, strengthen the Naira, and increase investor confidence.
He said the move would not only ease pressure on the dollar but also create jobs and improve economic resilience.
In addition to boosting local manufacturing, Cardoso also stressed the CBN’s commitment to expanding financial inclusion and improving digital payment solutions for ordinary Nigerians.
He revealed plans for a high-level meeting in which the apex bank will work with industry participants to create measures for enhancing financial services accessibility.
“The CBN is dedicated to making sure that more Nigerians have access to financial services, particularly in underserved and rural areas.
“Through collaboration with relevant agencies and industry players, we aim to build a more inclusive and digitally-driven financial ecosystem,” Cardoso stated.
He also assured Airtel and other telecom operators of the CBN’s support in creating a favorable environment for financial service providers, fostering competition, innovation, and broader access to digital services.
The Group CEO of Airtel Africa, Sunil Taldar, responded by endorsing the CBN’s economic reforms and voicing support for backward integration.
He agreed that telecom companies will eventually benefit from less reliance on the dollar.
Taldar, who was accompanied by Airtel Nigeria CEO, Dinesh Balsingh; Group CFO, Jaideep Paul; and Director of Corporate Communications & CSR, Femi Adeniran, reaffirmed Airtel’s commitment to advancing financial inclusion in Nigeria through technology-driven solutions.
He also pledged continued collaboration with regulators to drive digital transformation and economic growth.
MTN begs Nigerians over 200% data bundle hike, says adjustment was an error
Meanwhile, MTN Nigeria has publicly apologized to its customers following widespread backlash over a sudden 200% increase in the price of its 15GB digital bundle plan.
The telecommunications giant admitted the adjustment was an error and assured subscribers of better decision-making in the future.
In a statement posted on its official Instagram handle on Thursday, MTN acknowledged the frustration caused by the price hike.
“You dey vex. We know,” the company stated, recognizing the anger among its users.
“We know how upsetting it must have been to suddenly wake up to a 200% increase on your favourite digital bundle,” MTN noted.
While the company refrained from offering detailed explanations, it accepted responsibility for the pricing change.
“We could share several reasons, and provide explanations, but omo, all that one na story. We don cast. We get it and admit it. Let’s just say na mistake,” the statement read.
In a bid to mend its relationship with customers, MTN appealed for forgiveness, particularly during the Valentine’s season, emphasizing its appreciation for loyal subscribers.
“In this love season, don’t stay angry with us. Please forgive and forget. You matter, die, and we will never stop showing you how much,” the statement continued.
The company concluded by reaffirming its commitment to customer satisfaction, saying “Let’s continue our relationship. Thank you for your understanding.”
MTN’s apology comes amid growing concerns over rising data costs and telecom services in Nigeria.
The sudden price hike, which raised the cost of a 15GB weekly data plan from N2,000 to N6,000—a 200% increase—caught many internet subscribers off guard and sparked widespread outrage on social media on Wednesday.
The statement, however, did not mention whether the tariff had been reduced.
NLC threatens nationwide strike over tariff hike March 1
However, the Nigeria Labour Congress has vowed to embark on a nationwide strike from March 1, 2025, if telecommunications companies fail to revert to the previous tariff structure.
The decision follows the controversial 50 per cent hike in telecom charges, which the labour union insists was implemented without due process.
At its Central Working Committee meeting in Lokoja, Kogi State, on Thursday, the NLC condemned the tariff adjustment, arguing that no changes should have been made while negotiations with the government were still ongoing.
“The CWC received with grave concern the news that telecom companies have commenced the implementation of a 50 per cent tariff hike despite an earlier agreement reached with the Nigerian government and the NCC.
“A 10-man committee had been set up to review the matter within two weeks before any final decision on the new tariff structure was to be made,” the union stated.
As an immediate response, the NLC directed Nigerians to boycott major telecom operators, including MTN, Glo, and Airtel, beginning February 13, 2025.
It also demanded the recovery of funds allegedly siphoned abroad by these companies.
“If telecom operators fail to reverse the tariff to the old rate by the end of February, we will embark on a total shutdown of their operations nationwide from March 1, 2025,” the union warned.
The National Association of Telecoms Subscribers of Nigeria has also rejected the tariff hike, calling for sanctions against telecom providers.
Its President, Deolu Ogunbanjo, accused operators of disregarding an agreement to allow a committee to review the hike before implementation.
“Subscribers are complaining that what they are experiencing is not a 50 per cent increase but a 200 per cent hike,” Ogunbanjo said, urging the NCC to clarify the approved adjustments.
Meanwhile, telecoms lawyer, Ayoola Oke, urged President Bola Tinubu to halt the tariff hike, accusing MTN of using its market dominance to dictate industry prices.
He stated, “MTN now controls over 51 per cent of the market, a position it has achieved through anti-competitive practices.”
