TheNewsGuru

Tag: Airtel

  • 24hrs to Valentine’s Day, NLC orders workers, citizens to boycott MTN, Airtel, Glo over tarriff hike

    24hrs to Valentine’s Day, NLC orders workers, citizens to boycott MTN, Airtel, Glo over tarriff hike

     

    24hours to Valentine’s Day, the Nigeria Labour Congress, NLC has asked Nigerian workers, willing citizens to boycott the services of MTN, Airtel and GLO services from today, February 13, 2025.

    Saint Valentine’s day is celebrated worldwide.

    The umbrella labour body also asked telecommunication companies to reverse the implementation of tariff hike until a committee set up by the Federal Government completes its work.

    The Congress said that beginning from Thursday, Nigerian workers and other willing citizens should boycott the services of MTN, AIRTEL, and GLO daily between 11:00 AM and 2:00 PM until the end of February 2025.

    The NLC took the decision at the end of its Central Working Committee (CWC) meeting in Lokoja, Kogi State.

    This was contained in a communique signed by NLC President, Joe Ajaero and General Secretary, Emmanuel Ugboaja, the Congress directed all workers and citizens to suspend the purchase of Data from these companies which has also become one of their greatest tools for exploiting Nigerian citizens.

    The communique reads: “CWC demands an immediate reversal of the tariff hike, which took effect today, and insists that the companies revert to the previous tariff until the committee completes its deliberations and reaches a conclusive agreement.

    As a first step in resisting this arbitrary tariff hike, the CWC has directed that, beginning Thursday, February 13, 2025, Nigerian workers and other willing citizens shall boycott the services of MTN, AIRTEL, and GLO daily between 11:00 AM and 2:00 PM until the end of February 2025.

    All workers and citizens are urged to suspend the purchase of Data from these companies which has also become one of their greatest tools for exploiting Nigerian citizens.

    We also demand the repatriation of all funds siphoned out of the country by these companies.

    “If the telecommunications companies fail to revert to the old tariff by the end of February 2025, a total shutdown of their operations nationwide will commence from March 1, 2025.”

    The NLC directed its affiliates to commence immediate sensitisation and mobilisation of their members and the general public within their jurisdictions.

    “All NLC Affiliate Unions are requested to mobilize their members across the country to observe electronic silence during the designated hours.

    “We implore all of our Civil society allies and other interested stakeholders are to join us in making this action effective,” the Congress said.

    On the tax reform bills, the NLC said: “The CWC also reviewed the ongoing discussions around the Tax Reform Bills being considered by the government. While acknowledging the need for fiscal reforms, the Congress insists that any tax policies must be designed to alleviate the burdens on Nigerian workers and not worsen the existing economic hardship. The NLC shall engage with relevant authorities to ensure that tax reforms are fair, equitable, and worker-friendly,” it said.

    It added: “The Nigeria Labour Congress remains committed to defending the rights and welfare of Nigerian workers and citizens. The CWC calls on all Nigerians to unite in this struggle against exploitative economic policies and to actively participate in the outlined actions to demand justice and fairness in telecommunications, taxation, and transportation policies.”

  • Tariffs hike: Despite complaining about high cost of doing business, Airtel reports 20.4% revenue growth

    Tariffs hike: Despite complaining about high cost of doing business, Airtel reports 20.4% revenue growth

    Airtel Africa Plc has reported a 20.4 per cent growth in revenue to $3,638 million for the nine-month ended Dec. 31, 2024.

    Airtel Africa announced the 20.4 per cent revenue growth in a report on Thursday, despite complaining about high cost of doing business in Nigeria.

    Airtel Nigeria had joined other mobile network operators in the country to complain about high cost of doing business and clamoured for tariffs hike.

    TheNewsGuru.com (TNG) reports the clamours resulted in the Nigerian Communications Commission (NCC) approving tariff adjustments for telcos in the country by 50%.

    However, the company has said its total customer base grew by 7.9 per cent to 163.1 million, with data customer penetration increasing by 13.8 per cent to 71.4 million.

    According to Airtel Africa, data usage per customer increased by 32.3 per cent to 6.9 GBs, with smartphone penetration increasing by 5.2 per cent to reach 44.2 per cent.

    The report said the company’s mobile money subscribers also increased by 18.3 per cent to 44.3 million, with transaction value in the third quarter increasing by 33.3 per cent in constant currency.

    It said annualised transaction value was $146 billion, with Average Revenue Per User (ARPU) growth of 15.0 per cent and mobile money ARPU growth of 11.8 per cent in constant currency.

    “Airtel Africa’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) during the period declined by 11.9 per cent in reported currency to $1,681 million, with EBITDA margins of 46.2 per cent impacted by increased fuel prices and the lower contribution of Nigeria to the group.

    “The company’s capital expenditure decreased by 7.8 per cent to $456 million, with capex guidance for the full year remaining between $725 million and $750 million.

    “Airtel Africa’s leverage has increased from 1.3x to 2.4x primarily reflecting the 1.2 billion dollars increase in lease liabilities arising from the extension of its tower lease agreements,” the report reads.

    It noted that Airtel Africa’s Operating Company debt was now mostly in local currency, with only 8 per cent denominated in foreign currency.

    Commenting, Airtel Africa’s Chief Executive Officer,  Mr Sunil Taldar said: “We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy.

    “Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant.

    “The scale of data traffic growth across our markets had an increase of 49 per cent over the last year, is a testament to the investments we have made and the relentless focus on our strategy to create value for all our stakeholders.

    “We continue to focus on further margin improvement. Furthermore, our capital structure remains robust with just 8 per cent of OpCo debt in foreign currency, a substantial improvement over the last year,” Taldar said.

    He noted that continued confidence in the outlook for the business, had enabled the board to announce a second share buyback programme, which will return up to $100 million to shareholders.

    “The recent signs of currency stabilisation in some markets and the recent decision from the Nigerian Communications Commission regarding tariff adjustments in Nigeria are encouraging and signals a more stable operating environment.

    “While challenges remain, these developments provide a firm foundation for growth and improved market conditions,” Taldar said.

  • Airtel Nigeria appoints new CEO

    Airtel Nigeria appoints new CEO

    Airtel Africa, a telecommunications and mobile money services provider, says it has appointed Dinesh Balsingh as the new Chief Executive Officer of Airtel Nigeria.

    Airtel Africa, Chief Executive Officer, Sunil Taldar in a statement on Tuesday said the appointment was effective on Nov. 1, 2024.

    He noted that with the appointment, Balsingh had also become a member of the Executive Council for the Airtel Africa Group.

    Taldar said Balsingh was taking over from Carl Cruz, who returned to his home country, the Philippines, at the end of October.

    According to him, Balsingh has extensive experience across the telecommunications industry and comes back to Nigeria, after his serving out his appointment as Managing Director and Chief Executive Officer of Airtel Tanzania in 2022.

    “Prior to his move to Tanzania, he served as the Chief Commercial Officer (CCO) at Airtel Nigeria and therefore, brings with him considerable experience of the Nigerian telecommunications market.

    “Balsingh’s career in the telecommunications industry spans over 24 years, having began his career in 2000 with Hutchison Essar, before moving to Airtel India as a marketing director in 2006 and then Tata Docomo in 2011.

    “Balsingh joined Airtel Nigeria as marketing director in 2013, before taking over as CCO in 2018, ” he said.

    Taldar said that during his tenure at Airtel Tanzania, Balsingh led the business to achieve record growth through intelligent pricing, product enhancements and disciplined execution of projects, resulting in strong Revenue Market Share (RMS) gains in the highly competitive market.

    “Balsingh’s deep telecommunications experience and strong operational execution, combined with his knowledge of the Nigerian market, will be instrumental in further supporting our corporate purpose of transforming lives across Nigeria, “Taldar said.

    He added that Balsingh had a masters in business administration from Thiagarajar School of Management.

  • MTN, Airtel, others in fresh trouble with Reps

    MTN, Airtel, others in fresh trouble with Reps

    The House of Representatives Committee on Corporate Social Responsibility (SCR) has resolved to sanction MTN, Airtel, and other companies for failing to perform their Corporate Social Responsibilities.

    The committee said that it would enact laws to sanction any offenders in that regard.

    Rep. Oby Orogbu, the Chairman of the Committee on Corporate Social Responsibility, said this during a public hearing in Abuja on Tuesday on “a Bill to regulate corporate social responsibility in Nigeria.

    She, however, gave MTN and Airtel the last warning to honour the committee’s invitation or face the arrest warrant.

    According to Orogbu, some companies operating in the country have overtime violated the law, hence the need for punishment to be imposed on them.

    She also frowned at the conduct of the National Communications Commission, MTN and Airtel, adding that they had several times ignored the invitation of the Committee.

    She said that the committee had no choice but to invoke its powers by issuing a warrant of arrest.

    “Section 89, 8 of the Constitution mandates individual companies as invited to make themselves available to parliament, but they break the law.

    “I want to tell MTN and Airtel that they take so much from our nation and they feel too big to appear before the parliament; we will not tolerate that.

    “We gave them the powers to operate in Nigeria, so to refuse to honor the invitation of the parliament is a no-no; we take exception to it.

    “I have taken all friendly measures to make them understand the need to appear before the parliament, but they have refused.”

    “If you feel you are responsible, then you should appear before the parliament. We want you to be responsible and accountable,” she said.

    She said that in spite of operating from across the country, they had disrespected the same nation by not honoring the House invitation.

    Mr. Wondi Ndanusa, who spoke on behalf of the Governor of the Central Bank of Nigeria, said that the CBN is in support of the bill.

    He expressed concern about the proposed penalty of imprisonment for defaulting companies, stating that the penalty should rather be persuasive.

    He also said that many companies were faced with a lot of financial burdens and responsibilities, adding that the proposed SCR should be domiciled with the Corporate Affairs Commission.

    Mr Bala Wuoir, the representative of the Oil Producers Trade Section, expressed concern that the PIA already mandates oil companies operating in Nigeria to make a financial contribution of three per cent of their profits to NDDC.

    He said that mandating them do so again would be burdensome, adding that oil companies should be exempted from the bill.

  • BREAKING: Airtel quietly hikes price of data subscription

    BREAKING: Airtel quietly hikes price of data subscription

    Airtel Nigeria has quietly hiked the price of data subscription for its N5,000 monthly data bundle.

    TheNewsGuru.com (TNG) observed the hike on Sunday, following threats by Association of Licensed Telecommunications Operators of Nigeria (ALTON) to hike voice and data tariffs.

    The N5,000 monthly data subscription bundle that used to be 20 GIG is now 18 GIG, ie. 2 GIG short. However, Airtel stated it only modified the data bundle.

    “Hello @oyiboediri, we empathize. Kindly be informed that the data bundle has been modified. Please note that N5,000 activation is now 18GB  + 2GB YouTube Night  + 200MB Youtube Music / Spotify 30 Days. Thank you,” stated in response to an inquiry by TNG.

    BREAKING: Airtel quietly hikes price of data subscription

    Recall ALTON had during a recent visit to the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, sought approval for a price review mechanism in the telecom sector.

    The association blamed the increased cost of doing business and harsh economic realities for the price hike proposal.

    According to ALTON chairman, Gbenga Adebayo, other sectors of Nigeria’s economy, including insurance and power, have implemented different degrees of tariff increment in the last six years but there has been no increase in the telecoms sector.

    “Consumer prices in other sectors have seen a steep rise over the last six years as they adjust to reflect macroeconomic realities.

    “However, telco prices have remained flat and even declined. Contrary to the price trends in other sectors, telcos have had to adjust for the macroeconomic headwinds caused by an increasing erosion of margins.

    “Other highly regulated sectors, such as power and insurance, have implemented price increases over the last year. Insurance prices have risen 200 per cent with power raising prices by over 40 per cent,” he stated.

    In his response, the Communications Minister said he would look into all that ALTON had tabled, stressing that the challenges are not insurmountable.

    TNG reports Airtel, the Minister of Communications and the Nigerian Communications Commission did not immediately respond to calls for clarification on the hike.

  • Airtel Africa set to launch 5G to rival MTN in Nigeria

    Airtel Africa set to launch 5G to rival MTN in Nigeria

    All is set for Airtel Africa to launch commercial 5G networks for 5G-enabled smartphones and other devices in Nigeria to rival MTN in the country.

    TheNewsGuru.com (TNG) gathers that Airtel Africa will launch its 5G networks in key cities across the geopolitical zones of Nigeria later this month.

    Recall that Airtel in January announced the acquisition of 5G spectrum and an additional spectrum for its 4G network for a total sum of $316.7 million.

    The company purchased 100 MHz of spectrum in the 3500 MHz band and 2×5 MHz of 2600 MHz from the Nigeria Communications Commission (NCC) for a gross consideration of $316.7m, payable in the local currency.

    According to a statement by the local unit of Airtel Africa, the decision is part of its commitment to deepen higher-speed connectivity in Nigeria by way of 5G cellular technology.

    TNG gathered that Airtel, barring any last minute changes, is set to launch the 5G networks later this month.

    Meanwhile, little is known about the details of the launch. However, a source in the telecom firm, who refused to be named, confirmed: “the launch will happen before the end of this month”.

    Recall that MTN became the first mobile network operator to launch a 5G network in Nigeria after NCC auctioned spectrum for the network in December 2021.

    Since its commercial launch in September 2022, MTN has rolled out 5G networks in over 588 sites and brought the 5G network to 5G-enabled smartphones, starting with iPhone users.

    Airtel gave up an early chance to run 5G technology in Nigeria when rival MTN and little known Mafab Communications snapped up the two available permits at the premier auction by NCC.

    While MTN teed off operations in August 2022, Mafab sought a five-month extension from the regulator for its own launch.

    Mafab’s 5G rollout was delayed by its Unified Access Service Licence and Numbering plan. However, a source confirmed that the firm has now launched 5G services on some sites.

    TNG reports Nigeria is the biggest market of both Airtel Africa and the MTN Group, the parent company of MTN Nigeria.

  • For 5G, little lessons that build an industry – By Okoh Aihe

    For 5G, little lessons that build an industry – By Okoh Aihe

    What seemed a miscarriage of reality last year was righted last week when mobile service  provider, Airtel, became the sole contender in a 5G Auction scheduled for this month. As the sole bidder, Airtel will now shell out the sum of $273.6m as payment for a Lot of 100MHz in the 3.5GHz spectrum band.

    A statement released by the Commission through the Director of Public Affairs, Reuben Muoka, informed that while only two companies had expressed interest in the Auction by the close of business on Monday, December 5, 2022, only Airtel was able to pay the Intention to Bid Deposit (IBD), which is 10 percent of the Reserve Price (RP). 

    The other company, Standard Network & Connections Limited (Standard Network), had communicated with the Commission via an email, appealing for the deadline to be extended by twelve (12) working days which was not acceptable in view of the auction timetable.

    “Having met all the provisions in the IM, Airtel has therefore emerged as the sole Bidder,” Muoka said.

    How times and fortunes change! The first 5G Auction held in Nigeria last year with MTN and a hardly known MAFAB becoming the pioneer winners, with each paying the sum of $273.6m for a Lot of 100MHz. Airtel posted an Exit Bid of $270m. This writer gathered at the time that the Nigerian Communications Commission (NCC), the telecoms regulator which sold the licenses on behalf of the Nigerian government, had given a firm word that there would be no 5G Auctions for two years. 

    After all, the financial windfall was good and those dropping such hefty sums needed to be reassured that the system would keep their back and ensure they make some returns on their investments that would eventually run into billions because of the cost of 5G deployment. 

    But with a band of politicians ready to exit government in the next few months, pressure came on the regulator to put the remaining two Lots in the market with the narrow excuse that so much money could be raised for a government in dire need of cash. 

    The drama began with the Information Memorandum published on October 21, 2022. Stakeholders were encouraged to raise questions and comments on the Memorandum. Some of the concerns boiled over at the Stakeholders Engagement Forum which held on November 15,2022. While Airtel argued to be allowed to pay the RP, MTN canvassed a position that it be allowed to participate in the Auction although it currently holds a license. 

    Definite decisions. Airtel’s wish was refused. The window of 100MHz as the upper limit for an operator was adjusted to 200MHz, meaning MTN could participate and that even a bidder could snap up the two Lots. 

    These are interesting times. This writer has a little conservatism on his side, spiced with some regulatory experience. This was why we warned that the Auction be suspended for the following reasons: the election period would breed some uncertainties to frighten investors, the regulator needed to be firm and not yield to the greed and manipulation of politicians, the regulator should not break its promise to previous winners or even industry operators, and that the industry and its investment needed to be protected. 

    This was only a suggestion that was contemptuously ignored. Not that we expected otherwise. There is always a feeling that we can conjure up magic to impact on our wishes and designs. Unfortunately, magic belongs to the realm of deceit; oh, the ambience of abracadabra. 

    So, ironies conspired to collapse the plans. MTN froze on its plans, perhaps taking a cautionary appraisal of the market it has invested so much in, Airtel had its way to pay the Reserve Price (RP), while the little other outfit that had interest couldn’t survive the heat of an unpredictable market. Nobody would be ready to lay out that kind of money to an upstart in an industry where sharks could be complimented as friends. Generally, interests cooled in the industry because there are things that are not right at the moment.

    The drama ended before it could start. No climax. No denouement. A simple slapstick. But what lessons have we learnt from this insipid episode?

    Airtel attracts my first attention here. The company should build some more trust in countries where it is doing business. Each time there are spectrum sales in Nigeria, the service provider would behave like an organisation frozen in time, not too much effort to hit the glass ceiling.

    But the parent company, Bharti Airtel, in August 2022, had to pay $5.45bn for 5G spectrum in India before it could begin to place a value on the cheap product it declined to pick in Nigeria. This writer was reliably informed that plus the unwholesome pressure from the politicians, Airtel, since then, has mounted pressure on the regulator.

    Unfortunately for the operator, which has now won a 5G license in Nigeria, it is one year behind its competitor, MTN, in service rollout. 

    I also want to point at the operators and industry bodies who are ever so afraid of ever testing the activities of the regulator with available regulatory instruments. There is too much silence, too much acquiescence to regulatory inconsistencies and infractions from the regulator. You don’t build a big industry that way. 

    My last appeal is to the regulator. Beyond the adulatory sloganeering of best practices and regulatory transparency, there will be the need to audit its activities in the over seven years of this administration, highlight its successes but also be very sincere enough to look at its failures and be able to make corrections that can revive the fortunes of the industry.

    I do not want to submit that there is too much focus on legacy glory but the path to a great future is always missed by those who constantly look behind. 

    At the expiration of the lifespan of the Buhari administration, the regulator will have to do a lot of work to clean up its image and reinvent its activities.

    Meanwhile congratulations to Airtel, and may their service rollout come with speed.

  • BREAKING: Airtel emerges sole bidder for second 5G spectrum auction

    BREAKING: Airtel emerges sole bidder for second 5G spectrum auction

    Airtel Nigeria has emerged as the sole bidder for the second auction of the 5G spectrum by the Nigerian Communications Commission (NCC).

    TheNewsGuru.com (TNG) reports Reuben Mouka, NCC’s Director of Public Affairs made this known in a statement on Wednesday.

    According to the statement, at the close of business on Monday, December 5, 2022, only two companies expressed interest in the auction of the remaining 3.5GHz spectrum band for 5G deployment.

    The two companies, according to the statement, are Airtel Networks Limited (Airtel) and Standard Network & Connections Limited (Standard Network).

    TNG gathered that Standard Network, a little-known entrant in the telecoms sector, however, failed to pay the Intention to Bid Deposit (IBD) amount as stipulated in the information memorandum.

    The information memorandum pegged the IBD at USD27,360,000.00, being 10% of the reserve price per lot, which NCC disclosed Airtel has paid.

    The reserve price is the minimum price for one Lot of 100MHz TDD for a ten (10) year licence tenure fixed at USD273,600,000.00 only or its equivalent in Naira at the prevailing Central Bank of Nigeria (CBN) rates at the time of the auction.

    NCC disclosed that there will be no further bidding with the emergence of Airtel as the sole bidder for the remaining 5G spectrum.

    The telecom firm that fell out in the first auction will now proceed to the assignment stage in line with the published information memorandum guiding the licensing process.

    Meanwhile, it is yet to be confirmed if Airtel will go for the remaining two lots in the 3.5 MHz spectrum band on offer.

  • BREAKING: Airtel, Glo, 9mobile get another chance to join 5G race in Nigeria

    BREAKING: Airtel, Glo, 9mobile get another chance to join 5G race in Nigeria

    The Nigerian Communications Commission (NCC) has set in motion modalities to auction the remaining 3.5 GHz spectrum for the deployment of 5G networks in the country, presenting multinational telecommunications companies operating in Nigeria, Airtel, Glo and 9mobile another opportunity to join the 5G race.

    TheNewsGuru.com (TNG) reports this is as the independent regulatory authority for the telecommunications industry in the country has published the draft information memorandum on the auction of the remaining 3.5 GHz spectrum.

    The information memorandum defines the process that the Commission will adopt for the licensing of the remaining 3.5 GHz spectrum. It also provides information on the Nigerian communications market, details of the spectrum on offer, the prequalification process, the auction process, and indicative timetable.

    Barring any last-minute amendments by the NCC, the auction of the remaining 3.5 GHz spectrum for the deployment of 5G in the country will hold on 19 December 2022 at a yet-to-be-determined venue with a mock auction expected on 16 December 2022.

    The auction closure will occur when the public announcement is made by the auction overseer/manager, revealing the provisional winners to be awarded the licences under the process, at which point each successful bidder will automatically be deemed to have been awarded a provisional licence.

    However, to stand a chance, Airtel, Glo, 9mobile and any other interested telecom firms are expected to pay a mandatory Intention-To-Bid Deposit (IBD)of USD27,360,000.00 tentatively by 5 December 2022, which is also the tentative deadline for the submission of applications for the auction.

    According to the draft information memorandum, the NCC is offering the remaining lots of the 100MHz in the 3.5GHz spectrum band to support 5G deployment in Nigeria in order to ensure reliable communications services and innovative digital technologies in the country.

    The Commission is offering the remaining two lots in the band ranging from 3400-3500 MHz and 3600-3700 MHz, totalling 200 MHz for auction. This will be awarded to winning bidders in 100MHz lot. The auction will be an Ascending Clock Auction.

    Each lot of 100 MHz TDD represents 1 eligibility point. This means that only two telecom firms stand a chance to succeed in the final outcome of the auction.

    While 3400-3500 MHz represents Lot A, 3600-3700 MHz represents Lot C and are available for auction. Lot B (3500-3600 MHz) had been won by MTN and Lot D (3700-3800 MHz) had been won by Mafab in 2021 with the Guard Band of 100 MHz in the range of 3800-3900 MHz not available for auction.

    Recall that NCC had in December 2021 conducted an auction of the first two lots of 100 MHz TDD in the 3.5 GHz band to deepen broadband penetration and support the delivery of ubiquitous broadband services in the country. Mafab and MTN scaled through, defeating Airtel to emerge successful during the 2021 auction.

    TNG reports that the reserve price, the minimum price for one lot of the remaining 100 MHz TDD, for a ten (10) year licence tenure, has been fixed by NCC at USD273,600,000.00 or its equivalent in Naira at the prevailing Central Bank of Nigeria (CBN) rates at the time of the auction.

    However, the fee for the 5G spectrum licence will be determined at the auction. The opening bid will be an increment higher than the reserve price in the opening round of the auction. A successful bidder at the auction will be expected to pay a sum equal to the amount of the winning bid minus the IBD, as well as an operational licence fee, where applicable.

    The balance (winning bid amount less the IBD) of the auction fee shall be paid to the Commission on or before 20 January 2023.

    Inviting comments from the public and interested stakeholders, the Commission disclosed that it will hold a public consultation in respect of the draft information memorandum on 15 November 2022 in line with it’s participatory rule-making process for the communications sector.

    TNG gathers that if a bidder is disqualified from the process, the Commission reserves the right to impose a penalty. The maximum penalty may result in forfeiture of the full IBD paid and the bidder may be barred from future auctions.

  • MTN, Airtel, others ordered to reverse tariff increase for voice, data services

    MTN, Airtel, others ordered to reverse tariff increase for voice, data services

    The Federal Government has directed MTN, Airtel and other affected Mobile Network Operators (MNOs) in the country to reverse the unilateral upward tariff adjustments.

    The Nigerian Communications Commission (NCC), through a letter dated Oct. 12, gave the directive following media reports of unilateral implementation of the recently approved 10 per cent upward tariff adjustments.

    The adjustments were for some voice and data services by the service providers on their networks.

    NCC’s Director, Public Affairs, Dr Reuben Muoka, made this known in a statement on Wednesday in Abuja.

    Muoka said that the consideration for 10 per cent approval was in line with the mandates of the commission as provided by the Nigerian Communications Act, 2003.

    He also said that it was in line with other extant Regulations and Guidelines, as this was within the provisions of existing price floor and price cap as determined for the industry.

    He said that the decision was taken after a critical and realistic review, analysis of the operational environment and the current business climate in Nigeria, as it affects all sectors of the economy.

    “The tariff adjustment was proposed and provisionally approved by the management, pending the final approval of the Board of the Commission.

    “However, in the end, it did not have the approval of the Board of the Commission. As a result, it is reversed,” he said.

    He said that the Minister of Communications and Digital Economy, Prof. Isa Pantami, had maintained that his priority was to protect the citizens and ensure justice to all stakeholders involved.

    He quoted the minister as saying: “As such, anything that will bring more hardship at this critical time will not be accepted.

    “This was also why he obtained the approval of President Muhammadu Buhari for the suspension of the proposed 5 per cent excise duty, in order to maintain a conducive enabling environment for the telecom operators.

    “Much as there is an increase in the cost of production, the provision of telecom services is still very profitable and it is necessary that the subscribers are not subjected to a hike in charges.”

    In view of the above, he said the Commission would carry out further consultations with all industry stakeholders on the best approaches to protect and uphold the interest of both the consumers and the service providers.

    “The commission will continue to entrench very transparent processes and procedures for rates determination in the industry.

    “The process is usually carried out with wide industry consultation.

    “It is through these processes that price floors and price caps for data and voice services are benchmarked, regularly reviewed, and determined from time to time.

    “The commission will continue to abide by this time-tested process and international best practice to ensure efficient pricing mechanism for the telecommunications industry in Nigeria,” he said.