Economy
Decline In Nigeria’s Telephone Penetration Noted As NCC Reevaluates Metrics
In November, Nigeria’s telephone penetration witnessed a decline, as revealed by the Nigerian Communications Commission (NCC). This adjustment in statistical indicators aimed to incorporate new population growth figures and align with international best practices. The revision, based on the Nigerian Population Commission’s 2022 projection of the country’s population at 216,783,381, replaced the previous 2017 projection of 190 million people……CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
The NCC reported that teledensity, a measure of telephone penetration, dropped to 102.97% in November 2023, down from 115.63% in August 2023. The adjustment aligns with the International Telecommunication Union’s teledensity calculation standards. September saw a decline in teledensity to 102.30%, and broadband penetration dropped from 45.47% to 40.85%.
Despite the decline, active voice subscription statistics experienced marginal growth from 220,361,186 to 221,769,883 in September 2023. Internet subscriptions also witnessed a slight increase, rising from 159,034,717 in August 2023 to 160,171,757 in September 2023.
The NCC clarified that teledensity is an index prescribed by the ITU, measuring telephone penetration as one line per 100 individuals in the population. This adjustment follows the mandate outlined in Section 89 Subsection 3(d) of the Nigerian Communications Act 2003, emphasizing the monitoring and reporting of the telecommunications industry’s state.
Executive Vice Chairman of the NCC, Dr. Aminu Maida, highlighted the importance of this adjustment for maintaining data integrity and accurately measuring progress in broadband penetration, quality of service, and population coverage.
The delay in publishing industry statistics since September 2023 was attributed to the NCC’s methodology change.
In a related development, MTN Nigeria’s CEO, Karl Toriola, emphasized the impact of high phone costs on digital inclusion. He mentioned the role of 5G in digitization and suggested local assembly to reduce production costs and eliminate customs duties, making smartphones more affordable. Toriola also highlighted the significance of aggregate credit scoring history for citizens to finance their mobile devices, working towards addressing device affordability and promoting digital inclusion in Nigeria.
The ongoing conversation about smartphone affordability in Nigeria is crucial for expanding digital inclusion, considering the challenges posed by taxes and duties contributing to increased costs. According to GSMA, 68% of Nigerians in rural areas and 58% in urban areas do not own smartphones.
Despite a significant drop in global crude oil prices—with Brent falling to $73.14 and WTI to $69.85—petrol prices in Nigeria remain stubbornly high. While global markets have stabilized following the US-Iran conflict, domestic pump prices have barely budged, hovering between ₦1,200 and ₦1,300 per litre.....KINDLY READ THE FULL STORY HERE▶
Although industry insiders argue that ex-depot prices should be closer to ₦700, experts warn that a direct price drop is unlikely. Dr. Ayodele Oni, an oil and gas analyst, explains that in a deregulated market, the naira’s exchange rate is just as critical as the price of crude. He emphasizes that while falling crude prices help, the cost of petrol will only truly stabilize if the naira remains strong, as refined product imports are dollar-denominated. Consequently, relief for the average Nigerian may remain elusive unless both crude prices and the currency improve simultaneously.
Option 2: Accessible and Direct (Best for blogs or general reading)
Global oil prices are nearing pre-conflict levels, but Nigerians aren’t seeing the expected relief at the pump. Even though international oil benchmarks have dropped significantly since the US-Iran tensions cooled, local fuel prices remain stuck at ₦1,200 to ₦1,300 per litre.
Many marketers believe pump prices should be much lower, suggesting a price point closer to ₦700 per litre given current market conditions. However, analysts caution that it isn’t that simple. Because Nigeria’s fuel market is deregulated and reliant on imported refined products, the value of the naira is a major factor. Essentially, even if the price of crude oil falls, the cost of petrol will stay high as long as the dollar remains expensive against the naira. For now, experts believe that significant price relief depends as much on currency stability as it does on global oil trends.
Key Takeaways (Bullet Points)
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The Disconnect: Global oil prices have returned to pre-conflict levels, yet domestic petrol prices remain high (₦1,200–₦1,300 per litre).
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The Expectation: Marketers and the public believe current crude prices warrant a drop to around ₦700 per litre at the depot level.
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The Complication: Experts note that the deregulation of the sector means the naira-to-dollar exchange rate is now a more powerful driver of pump prices than global crude costs alone.
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The Outlook: Relief for consumers is unlikely to happen based on oil prices alone; it requires a combination of lower crude costs and a more stable naira.
Despite a significant shift toward domestic production and a drop in imports, the price of Liquefied Petroleum Gas (LPG) has surged to ₦2,000 per kilogram in various parts of Nigeria. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicates that local facilities—including the Dangote Petroleum Refinery—have become the primary suppliers of LPG between April 2025 and April 2026, with daily domestic supply reaching 4,500 tonnes by April 2026. Conversely, imports have plummeted, falling from 1,600 tonnes per day in November 2025 to just 200 tonnes per day by March 2026.....KINDLY READ THE FULL STORY HERE▶
Market Challenges and Consumer Hardship
Even with consistent local output, consumers are facing prohibitive costs and localized shortages, leading many households to abandon gas in favor of charcoal and firewood. Key issues contributing to the crisis include:
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Supply Chain Barriers: Marketers report that sourcing the product has become increasingly difficult, and they are now paying between ₦25.2 million and ₦26.2 million for 20 metric tonnes of LPG.
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Economic Impact: The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) stated that these high costs are causing severe hardship for families, food vendors, and small businesses.
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Policy Setbacks: Stakeholders warn that these trends threaten to reverse years of progress in promoting clean energy adoption and may lead to increased environmental damage.
Infrastructure Progress
While market prices remain high, the Nigerian Gas Infrastructure Company reports that several critical projects designed to improve gas transportation are nearing completion. As of the latest data:
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The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project is 93.40% complete.
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The OB3 River Niger Crossing stands at 93.88% completion.
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The ELPS Midline Compressor Project has reached 94.45% completion.
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The Odidi-Warri Expansion Project is 70.28% complete, while the Escravos-Odidi project is in its early stages at 17.49%.
Despite this infrastructure progress, industry experts emphasize that addressing distribution bottlenecks remains essential, as increased domestic production alone has so far failed to lower retail prices for the average Nigerian.
Is there a specific aspect of this situation—such as the infrastructure projects or the marketers’ stance—that you would like to explore further?
Economy
REVOLUTIONIZING THE SKIES: How Nigeria’s New $7 Billion AfDB Deal Will Transform Air Travel Forever!.
Nigeria has officially signed a Letter of Intent with the African Development Bank (AfDB) to advance aviation development across the continent. Minister of Aviation and Aerospace Development, Festus Keyamo, formalized the agreement during a dialogue in Brazzaville, Congo, where he served as the African Champion of the AfDB’s Integrated Aviation Transformation Programme.....KINDLY READ THE FULL STORY HERE▶
During the session, Minister Keyamo showcased President Bola Tinubu’s “Renewed Hope Agenda,” emphasizing the need for capital to support key infrastructure and the newly established Nigeria Aircraft Leasing Company. To attract this investment, the Minister highlighted Nigeria’s recent regulatory reforms, including the domestication of the Cape Town Convention and updates to insurance frameworks. In response, AfDB President Dr. Sidi Ould Tah pledged the bank’s support for the programme, signaling a shared commitment to strengthening aviation finance and infrastructure throughout Africa.
Nigeria Moves to Boost Aviation Sector Through AfDB Partnership
Nigeria has taken a major step toward modernizing its aviation industry by signing a Letter of Intent with the African Development Bank (AfDB). Aviation Minister Festus Keyamo, representing the country in Brazzaville, Congo, utilized the platform to present Nigeria’s aviation roadmap under President Tinubu’s “Renewed Hope Agenda.”
A core focus of the discussion was the Nigeria Aircraft Leasing Company, which is expected to improve aircraft financing for local operators. Minister Keyamo assured stakeholders that Nigeria is ready for increased investment, citing significant reforms such as the domestication of the Cape Town Convention and modernized insurance policies. The AfDB has signaled strong support for these initiatives, agreeing to collaborate on the Integrated Aviation Transformation Programme to drive sustainable growth for Nigeria and the wider African aviation market.
Option 3: Short & Punchy (Best for social media or newsletters)
Nigeria is accelerating its aviation growth through a new partnership with the African Development Bank (AfDB). Aviation Minister Festus Keyamo recently signed a Letter of Intent in Brazzaville to unlock funding for the sector, specifically targeting the new Nigeria Aircraft Leasing Company. By implementing key reforms—like the domestication of the Cape Town Convention—Nigeria is positioning itself as a hub for aviation investment. The AfDB has officially pledged its support, marking a key milestone in efforts to modernize air travel infrastructure across the African continent
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