Dons EzeNCC APPROVES TARIFF HIKE FOR GLO, MTN, OTHERS
NCC APPROVES TARIFF HIKE FOR GLO, MTN, OTHERS The Nigerian Communications Commission (NCC) has approved the request of telecommunications companies to raise tariff. According to Reuben Mouka, spokeman of the commission, the approval was granted In pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators. He said said telcos made the request as a result of prevailing market conditions. “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. “These adjustments will support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity, including better network quality, enhanced customer service, and greater coverage. “Recognising the concerns of the public, this decision was made after extensive consultations with key stakeholders across the public and private sectors.” Mouka added that Tlthe NCC 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. “Additionally, the NCC reaffirms its dedication to fostering a resilient, innovative, 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. “As a regulator, the NCC will continue to engage with stakeholders to create a telecommunications environment that works for everyone—one that protects consumers, supports operators, and sustains the ecosystem that drives connectivity across the nation.”
TELECOM SUBSCRIBERS REJECT MINISTER’S PROPOSED 60% TARIFF HIKE
TELECOM SUBSCRIBERS REJECT MINISTER’S 60% PROPOSED TARIFF HIKE The Association of Telephone, Cable TV, and Internet Subscribers of Nigeria has rejected the proposed telecom tariff hike of 30 to 60 percent, put forward by the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani. The advocacy group, representing over 220 million subscribers nationwide, argued that the minister’s statement contradicted an agreement reached with the Nigerian Communications Commission and other key stakeholders during a meeting held on January 9, 2025. In a press release issued on Sunday, ATCIS-Nigeria’s National President, ‘Sina Bilesanmi, expressed concerns that the minister’s proposal went against the consensus reached in Abuja. According to him, it was agreed that no telecom tariff hike would occur until all stakeholders, particularly subscribers, were adequately consulted and sensitised. He explained, “Telecom operators need to respect the telecom subscriber advocacy body and the NCC Act. “The NCC should direct telecom operators to engage with ATCIS first for consultation, involvement, enlightenment, and engagement. “Once we reach an agreement, we can call for public input on the percentage rate and communicate this to the NCC for approval. “Any deviation from this process is unacceptable, as subscribers are the ones paying for the services.” Bilesanmi noted that at the January meeting, stakeholders resolved that there would be no tariff hike until further deliberations were concluded with mobile network operators and subscriber representatives. He added, “The MNOs, through their representatives at ATCON and ALTON, were tasked with organizing enlightenment programs to address these issues. They were also expected to discuss potential percentage increases with subscriber representatives before taking it to the NCC for final approval.” During an interview with Arise TV, Tijani revealed that MNOs were pushing for a 100% tariff increase to stabilize the telecom sector. However, the government would not approve such a drastic hike and was instead considering a moderate increase of 30 to 60 percent. The minister emphasised that any adjustment must not harm the Nigerian people. ATCIS-Nigeria, however, insisted that pricing decisions should not be unilaterally made by the minister but should follow proper regulatory channels. “We strongly disagree with the minister’s proposal.“It is not the minister’s role to set telecom prices in a liberalised market,” Bilesanmi said. The NCC, in partnership with subscriber advocacy bodies like ATCIS, must lead to any discussions on tariff changes based on data-driven analysis. The group further warned that a tariff increase would disproportionately affect Nigerians, particularly small business owners who rely on affordable telecom services to run their operations. It stressed that such a hike would worsen the economic strain on citizens already grappling with the effects of other financial reforms. “The government’s push for a digital economy cannot succeed if we burden Nigerians with higher telecom costs. “This will have a devastating impact on businesses that depend on affordable communication services to thrive and will ultimately slow down progress in digital transformation across the country,” Bilesanmi said. ATCIS-Nigeria urged the government to prioritise consultation with stakeholders and ensure that any tariff adjustment aligns with the needs and interests of subscribers.
NLC FAULTS FRESH PETROL PRICE HIKE, SAYS FG INSENSITIVE
NLC FAULTS FRESH PETROL PRICE HIKE, SAYS FG INSENSITIVE The Nigeria Labour Congress has frowned on the recent hike in the pump prices of Premium Motor Spirit, popularly called petrol, describing it as the height of insensitivity against the masses. Senior NLC officials disclosed this in separate interviews with our correspondents on Sunday, as oil marketers refuted being blamed for the recent hike in PMS prices nationwide. Similarly, the Dangote Petroleum Refinery also said the rise in petrol price was not from the $20bn Lekki-based plant but due to an increase in the cost of crude oil, the major component for refined petroleum products. Recall that on Friday, the pump prices of petrol rose to between N1,050 and N1,150 per litre following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners. Dealers confirmed that PMS prices would continue to rise since the major component in fuel production, crude oil, has been on the upward swing lately. Reacting to this, the Deputy President of Nigeria Labour Congress Political Commission, Prof Theophilus Ndubuaku argued that in a saner clime, representatives of workers, the organised private sector and students would have been called to a roundtable to deliberate on the course of action and analysis of the consequences before the decision would be taken. He said, “This pump price hike will not only affect foodstuff and fare. There is the problem of inflation and the value of naira to contend with. Instead, what we are seeing is a situation we call Tinubunomics. It is something that has not been tested. “When you talk about subsidies, is there a country that doesn’t have it? It’s all over the world. Even most of the goods you see in this country from China are subsidised. You are refusing to subsidise fuel and also refusing to even facilitate the so-called CNG buses. How many years does it take to do something like this? “If you know the kind of game we (the NLC) and them are playing on this CNG thing. Now, they are not even involving the people in the so-called CNG conversion. If you promise to run an inclusive government, It’s not just you that should be doing the talking. Yet, when somebody talks, they send attack dogs to attack and label him a member of the Obidient movement.” Continuing, Ndubuaku emphasised that President Bola Tinubu will do well to borrow the template of former leaders like Olusegun Obasanjo, who he claimed held a monthly roundtable with stakeholders whenever sensitive issues that have a lot to do with workers’ welfare were being discussed. “Such discussions were held in the Villa. Every month people would be invited and issues would be discussed. We’re not saying you shouldn’t do it. But please, carry people along. Let us know why you want to do these things so people will be prepared. “But you can’t just keep changing the prices without any regard for us? This is what is causing all this frustration. They are not carrying the masses along. They have virtually made it difficult for the NLC to be involved in anything they are doing. Nigeria is not the personal property of anybody. “If you are going to do anything that will involve the masses, you should call the people who represent the workers at least. You have certain blocks and groups of people in this country that have representatives, even in the so-called business sector that you can talk to,” he explained. Labour tackles marketers Also speaking on the hike in petrol price, the Chairperson of the Nigeria Labour Congress in Lagos State, Sessi Funmi, accused oil marketers of being major contributors to Nigeria’s economic challenges, describing them as “enemies of…
WHY WE INCREASED PETROL PUMP PRICE – DANGOTE REFINERY
WHY WE INCREASED PETROL PUMP PRICE – DANGOTE REFINERY Dangote Refinery has clarified that “the recent adjustment in our ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices.” In a statement on Sunday, the refinery noted that “any fluctuation in its international price inevitably impacts the cost of the finished product.” Earlier this week, Dangote implemented a 5% increase in the depot price of petrol, raising it from N899.50 to N950 per litre. However, the statement clarified that “it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices.” The 15% increase in global crude oil prices has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets. Despite this, Dangote Refinery has maintained the Single-Point Mooring, SPM, ex-vessel price at N895 per litre. All its partners, including Ardova, Heyden, and MRS Holdings, will retail petrol to Nigerians at a price of N970 per litre nationwide.
PETROL PRICE SURGES TO N1,150/LITRE
PETROL PRICE SURGES TO N1,150/LITRE Saturday Telegraph had on Friday reported that the Dangote refinery notified its customers of a price increase, raising the ex-depot rate from N899 per litre to N955 per litre. According to the statement, Customers purchasing between 2 million and 4.99 million litres now pay N955 per litre, while those buying 5 million litres or more are charged N950 per litre. This adjustment reflects a N55 or 6.17% increase from the previous discounted rate of N899.50, which was introduced in December 2024. The hike has sparked varying retail price increases across fuel stations nationwide, with some locations already reporting prices exceeding N1,100 per litre. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that petrol prices are likely to surpass N1,100 per litre at member stations. He attributed the increase to rising logistics costs, which add approximately N50 per litre to the ex-depot price. “Commuters in distant locations may pay over N1,150 per litre, while those closer to depots might pay N1,100. “The rise in crude oil prices has made this adjustment inevitable,” Ukadike stated. Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), noted that while the exact retail price remains uncertain, higher costs are unavoidable due to logistics and operational expenses. In Abuja, filling stations have already implemented at least a N50 increase, while outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) are maintaining a price of N965 per litre as of Friday evening. The sudden increase in ex-depot prices by Dangote Refinery and other depot owners is expected to compound challenges for Nigerian commuters, who now face higher transportation and living costs. The situation highlights the direct impact of global crude oil price fluctuations on local fuel pricing. Further adjustments in retail prices are anticipated as marketers recalibrate their pricing strategies to reflect the updated ex-depot rates.
PETROL PRICE SURGES TO N1,150/LITRE
PETROL PRICE SURGES TO N1,150/LITRE Saturday Telegraph had on Friday reported that the Dangote refinery notified its customers of a price increase, raising the ex-depot rate from N899 per litre to N955 per litre. According to the statement, Customers purchasing between 2 million and 4.99 million litres now pay N955 per litre, while those buying 5 million litres or more are charged N950 per litre. This adjustment reflects a N55 or 6.17% increase from the previous discounted rate of N899.50, which was introduced in December 2024. The hike has sparked varying retail price increases across fuel stations nationwide, with some locations already reporting prices exceeding N1,100 per litre. Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that petrol prices are likely to surpass N1,100 per litre at member stations. He attributed the increase to rising logistics costs, which add approximately N50 per litre to the ex-depot price. “Commuters in distant locations may pay over N1,150 per litre, while those closer to depots might pay N1,100. “The rise in crude oil prices has made this adjustment inevitable,” Ukadike stated. Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), noted that while the exact retail price remains uncertain, higher costs are unavoidable due to logistics and operational expenses. In Abuja, filling stations have already implemented at least a N50 increase, while outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) are maintaining a price of N965 per litre as of Friday evening. The sudden increase in ex-depot prices by Dangote Refinery and other depot owners is expected to compound challenges for Nigerian commuters, who now face higher transportation and living costs. The situation highlights the direct impact of global crude oil price fluctuations on local fuel pricing. Further adjustments in retail prices are anticipated as marketers recalibrate their pricing strategies to reflect the updated ex-depot rates.
FG SPEAKS ON INCREASE IN PETROL PRICE
FG SPEAKS ON INCREASE IN PETROL PRICE The Federal Government has clarified its role in determining the price of fuel in the country. According to the Minister of State Petroleum Resources, Heineken Lokpobiri, the government is no longer involved in setting fuel prices. Speaking at the inaugural meeting of the Petroleum Industry Stakeholders Forum in Abuja, Lokpobiri explained that the downstream sector is now fully deregulated. He said, “The whole essence of deregulation is for price to find its level. Before now you will agree with me that every day you are hearing negative news about petrol subsidies. Today, you journalists have no negative news about petrol subsidies because it is completely regulated, and the price will find its level. “As oil price goes up, petrol price will go up, and as oil price comes down, the price will come up. During the Christmas season, I was in Bayelsa, and I tried to go around different filling stations. Some filling stations were selling N1,020, others were selling N999, while others were selling N1,015. “What we are concerned about, and I’ve always had that discussion with you, with the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, is that the government is more interested in quality control. The government is more interested in availability, and what the government is particularly interested in is the dispensation of the right quantity. “If you are buying 10 litres of PMS, let it be that you are not short-changed by the retail filling station. That is where we have issues. And once there is competition, people have a choice, and that’s why you don’t see any queues”. The minister’s comments come amid concerns over a potential increase in fuel prices. The cost of Brent crude, the global benchmark for crude oil, has recently crossed $80 per barrel. However, marketers have allayed fears of an imminent price hike, stating that any changes will not be immediate.
DANGOTE REFINERY ANNOUNCES NEW PETROL PRICE, LITRE NOW SELLS N955 AT LOADING POINT
DANGOTE REFINERY ANNOUNCES NEW PETROL PRICE, LITRE NOW SELLS N955 AT LOADING POINT In response to a sustained increase in the price of Brent crude, the global benchmark, the Dangote Petroleum Refinery, has announced a new price list for its customers for Premium Motor Spirit (PMS), commonly referred to as petrol or fuel.In a statement reportedly disseminated via email on Friday, The PUNCH quoted Dangote Refinery to have revealed that the new price for its refined products will be set at ₦955 per litre at the loading gantry, indicating a revision in its pricing framework The refinery specified that marketers purchasing between 2 million and 4.99 million litres will be charged ₦955 per litre, while those acquiring 5 million litres or more will benefit from a slightly lower rate of ₦950 per litre. This adjustment represents an increase of ₦55.5, or 6.17 per cent, from the ₦899.50 per litre price that was offered as a holiday discount to Nigerians in December of the previous year. The new pricing structure will apply to all stock balances that have not yet been lifted by the specified time, and any pending stock as of the effective time will also be subject to the revised rates. The statement further indicated that this new pricing regime will come into effect at 5:30 PM today. The notice titled, “Communication on PMS Price Review” read, “Dear Esteemed Customer, Trust this email finds you well. “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit. Quantity: Previous Price (NGN/Litre)2 million-9.99 million -N899.5010 million Litres & Above N895Quantity: New Price (NGN/ Litre)2 million – 4.99 million N9555 million Litres & Above N950“Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices. “We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.” Naija News reports that the anticipated rise in prices is likely to significantly impact the downstream petroleum industry, especially private depots and retail markets. An oil and gas specialist, Olatide Jeremiah, told newsmen that depots are expected to raise the loading prices of refined petroleum products due to the substantial influence exerted by the refinery. Jeremiah, who is the Chief Executive Officer of Petroleum Price.ng, said, “Dangote Refinery’s influence on Fuel price has become unmatched; private depots, Major marketers, and independent Marketers will compete with this new price. Therefore, Nigerians should expect an increase in Petrol Pump Price. “Brent Crude oil as of today is $81.84, highest in 2025, its one major factor for the increase.” On Thursday, the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the price of crude oil in the international market remains a significant force in driving the fluctuations in the pump prices of petrol. He said the downstream sector is now fully deregulated, and the government is no longer involved in setting prices.
LANDMARK GROUP PARTNERS WITH ENUGU STATE TO REVAMP NIKE LAKE RESORT
LANDMARK GROUP PARTNERS WITH ENUGU TO REVAMP NIKE LAKE RESORT The chief executive officer of Landmark Group, Mr. Paul Onwuanibe, has finalised an agreement with the Enugu State government on a 35-year lease to revitalise the Nike Lake Resort to a competitive standard in Nigeria and beyond. In line with the “Akurulo Igbo campaign” that’s calling all Igbo entrepreneurs to invest in Igbo land, Mr. Onwuanibe has taken the bold step to develop Nike Lake. The aim of the 150-hectare Nike Lake Resort acquisition, according to Mr. Onwuanibe, is to make Enugu state a high-venture tourist hub that would welcome high-profile tourism within and outside Nigeria. This agreement happened on Wednesday at the Enugu State Government House, where the Commissioner for Trade and Investment, Mrs. Adaora Chukwu, signed on behalf of the state government, and the Managing Director/Chief Executive Officer of the Landmark Group, Mr. Paul Onwuanibe, signed for his organisation. Other witnesses include the state Governor, Dr. Peter Mbah, and the Secretary to the State Government, Prof. Chidiebere Onyia. What to know about Nike Resort Nike Lake Resort was established in 1988. It is situated on the banks of Nike Lake in the Abakpa Nike district of Enugu. Initially, it was developed to blend modern comforts with the area’s natural beauty, offering guests a serene environment complemented by rich cultural heritage. However, over the years, the resort experienced a decline in infrastructure and services, diminishing its appeal to tourists and residents alike. Recognising its potential, the administration of former Governor Ifeanyi Ugwuanyi initiated efforts in 1980 to transform the resort, aiming to restore its status as a premier hospitality destination. But, it didn’t get to the peak expected, and the resort has trudged on along like an abandoned car. However, this lease agreement with the Landmark Group under the Peter Mbah administration looks promising as Enugu people are in high expectations this time. However, Governor Peter Mbah emphasised that this present partnership aligns with his administration’s broader strategy to position Enugu as a preferred destination for both tourism and investment. The revitalisation of Nike Lake Resort is a significant step towards achieving this vision, reflecting the government’s commitment to sustainable development and economic diversification. Anticipated Benefits of the Partnership The collaboration between Enugu State and Landmark Africa Group is poised to bring significant benefits to the state and to the country as a whole. Such benefits include economic growth, which will boost local employment, stimulate small businesses, and increase revenue generation. It will also lead to upgraded facilities and services at the resort, which will attract a higher tourist attention that will place Enugu as a key destination in Nigeria. Also, it will result in cultural preservation and display that will also offer visitors an immersive experience. The area of infrastructural development is not left as is. Improvements in and around the resort will lead to better infrastructure, benefiting the local community. The partnership between Landmark Africa Group and the Enugu State Government marks a pivotal moment in the journey to restore Nike Lake Resort to its former glory. With planned investments and developments, the resort is set to become a beacon of tourism in Nigeria, offering unparalleled experiences to visitors and contributing to the socio-economic growth of the region.
NNPCL REMITTED N10TRN TO FEDERATION ACCOUNT IN 2024 – KYARI
NNPCL REMITTED N10TRN TO FEDERATION ACCOUNT IN 2024 – KYARI The Nigerian National Petroleum Company Limited has remitted N10 trillion to the federation account, making it the highest taxpayer in the country and the only company in Nigeria that publishes 100% of its account statements annually. This is according to the Group Chief Executive Officer, Malam Mele Kyari, who stated this on Wednesday during a presentation on NNPCL’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance. The NNPCL boss also called for a forensic audit of the funds spent by NNPCL on fuel price stabilization and ensuring uninterrupted petrol supply between January and September 2024. “Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply. “A forensic audit is needed to determine the financial obligations of NNPCL and any owed entities. Our transactional accounts are transparent and published annually, reinforcing our status as the top taxpayer and the highest contributor of royalties and dividends”, he said. Regarding the company’s 2025 revenue projections, Kyari indicated that a definitive figure would be provided after the upcoming board of directors meeting in two weeks. He assured the committee that the parameters for the 2025 budget were both realistic and achievable. In a related development, the National Assembly raised the 2025 projected revenue for the Nigerian Ports Authority to N1.75 trillion, underscoring the need for increased revenue generation across key government agencies.