Home > Breaking news > Nigeria Slashes Internet Data Prices By 50%

Nigeria Slashes Internet Data Prices By 50%

Nigeria government on Thursday said it has reduced the prices of internet data by more than 50 percent.

Communications and digital economy minister Isa Ibrahim Pantami disclosed that the slashed data prices came to effect since November 2020.

“The average cost of 1GB of data has reduced from the January 2020 cost of N1,000 to N487.18 in November, 2020,” Pantami said in a statement by his technical aide Femi Adeluyi.

He stated that the new internet data prices was a resolution from a government committee inaugurated in December 16 2020 to develop the Nigerian National Broadband Plan (2020-2025). The plan was unveiled and launched by President Muhammadu Buhari.

“One of the goals of the Plan is to reduce the average cost of 1GB of data to a maximum of N390 by 2025,” Pantami said.

“In line with Dr Pantami’s commitment to under promise and over deliver, the measures have caused the current cost of data to reduce significantly beyond the December 2020 projection of N925.”

With the January 2020 baseline of N1,000 per GB, the maximum projected steady decrease for the end of each year was as follows: 2020 (N925), 2021 (N850), 2022 (N775), 2023 (N700), 2024 (N545) and 2025 (N390).

He said the communications and digital economy ministry through the NCC, will ensure that consumers enjoy a price regime that supports fairness and friendly to consumers.

Pantami assured consumers that “Policies are in place to ensure that operators adopt competitive pricing that eschews unjustifiable margins.

“The general public may also wish to note that complaints about rapid data depletion are also being investigated.”

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

x

Check Also

Covid-19: FG To Deny Travelers Entry From India, Brazil, Turkey

•Imposes heavy fine on defaulting airlines •Issues new guidelines on coronavirus prevention Olawale Olaleye Concerned ...

COVID-19: NAFDAC Approves Pfizer Biotech Vaccine For Emergency Use Authorisation

The National Agency for Food and Drug Administration and Control (NAFDAC) says it has approved ...