Telecommunication subscribers under the aegis of Association of Telephone, Cable TV and Internet Subscribers of Nigeria (ATCIS-Nigeria), at the weekend rejected the 30-60 per cent tariff increase proposed by Bosun Tijani, minister of Communications, Innovation and Digital Economy, insisting that there should be no increase for now.

ATCIS-Nigeria said Tijani cannot speak for them, saying there is no conclusion on the tariff increase yet.

Sina Bilesanmi, national president, ATCIS-Nigeria in a statement, said a tariff hike was not one of the issues agreed upon with the regulator in Abuja, wondering why the minister is interested in hiking tariffs to the detriment of struggling Nigerians still reeling under the impact of economic reforms.

He said the minister’s statement was contrary to the agreements reached between the Consumer Bureau Department of the Commission of the  Nigerian Communications Commission (NCC) and stakeholders at a meeting convened on January 9, 2025, at the NCC headquarters in Abuja.

According to him, what was agreed upon at the January 9 Abuja meeting was that there would be no telecoms tariff hike for now until all the stakeholders, particularly the subscribers, are sufficiently enlightened and sensitised.

Recall that the minister, in a TV interview, had said even though the mobile network operators (MNOs) were demanding a 100 per cent increase to stabilise the sector, the government knew that such a level of increase would be harmful to the people.

On the threshold of the expected hike, he said: “I think it should not be more than anywhere between 30 to 60 per cent. We have already made it clear that we are not going to approve 100 per cent. These companies are asking for 100 per cent, stating clearly that this is what they believe they need to get.

“But what we are looking at in terms of the sector is that if this is the sector that is responsible for driving growth in our country, it will be harmful to our people to allow MNOs to increase by 100 per cent.”

However, Bilesanmi said it was not the duty of the minister to speak for tariff pricing, insisting that it is the responsibility of the NCC which has already started doing the consultation to do data-based empirical cost analysis.

He said the minister has no power to fix prices in a liberalised market.

“Our resolution was, one, that the telecom operators need to respect the telecom subscriber advocacy body and the act of NCC; that the NCC should tell the telcos to first meet with ATCIS being the telecom subscriber advocacy body for consultation, involvement, enlightenment, and engagement; that once telecom subscriber advocacy body agreed, it will call for public opinions on the per cent rate, and that ATCIS will then write NCC for approval, and anything outside of these may not work.

“As subscribers, we should be in collaboration with NCC because we’re the ones paying the money involved. We agreed at the meeting that there will be no hike but further deliberation and consultation on the issue with relevant stakeholders, especially the MNOs and the subscribers would continue.

“The MNOs, through their representatives (ATCON and ALTON), were supposed to organise an enlightenment/sensitisation programme to address the issues. The MNOs were supposed to discuss the percentage increment with the subscribers’ representatives after which it will be taken to the subscribers for discussion. At the end of the meetings, we were expected to communicate an equilibrium price (a fair price agreeable to all) to the NCC for final approval,” he said.

According to Bilesanmi, any tariff hike will do more harm than good to the subscribers at a time when they are struggling to cope.

“It will further impoverish our members, especially small business owners whose offices and shops are their mobile phones and laptops. A hike in voice and data prices without recourse to the subscribers will spell doom for their business,” he said, adding that it might slow down the gains of the government’s digital economy ambition.

“ATCIS is the leading telecom subscriber advocacy body in Nigeria with over 220 million members across 36 states in the six geo-political zones in Nigeria.

“It has a mission to promote mutual co-existence, and fair play, and defend the rights of telecom subscribers, by endorsing and ensuring good products and network service delivery from network operators and service providers to our corporate and individual members, while providing a platform to advance the rights of Telephone, Cable Tv and Internet Subscribers.”

Recent data from the International Trade Centre (ITC) has revealed that Nigeria’s electricity exports have reached a value of $112m.

According to the ITC’s website, Nigeria is currently exporting electricity to two neighbouring African nations: the Republic of Benin and Niger.

As of January 18, 2025, Nigeria’s electricity exports to Benin amounted to $66m, with a potential export value of $82m. However, there remains an unrealised export potential of $16m, according to the Punch.

Similarly, electricity exports to Niger were valued at $46m, with the potential for $51m in exports, leaving an unrealised potential of $4.1m.

“The products with greatest export potential from Nigeria to Benin are electrical energy, Urea, and Bars & rods of iron/steel,” the ITC noted.

It also highlighted that the largest absolute difference between potential and actual exports was in electrical energy, with an additional $4.1m in exports still unrealised.

The ITC further indicated that Nigeria’s exports to Niger include electrical energy, Portland cement, and soups, broths and preparations.

While the export data paints a picture of growth in the sector, concerns remain about the state of electricity supply in Nigeria.

According to the Punch, Chief Princewill Okorie, executive director, Electricity Consumer Protection Advocacy Centre, questioned the country’s priorities.

He said, “Are the electricity companies in those countries they export electricity to serve the consumers the way they serve Nigerian consumers? We cannot be celebrating electricity export when at home in Nigeria we are experiencing blackout and extortion in violation of our consumer protection laws. A good parent first takes care of his home before caring for outsiders.”

He further criticised the export of electricity, questioning whether the money generated was benefiting the Nigerian power sector.

“Is it the wellbeing of Nigerians that is more important or the money generated from export of electricity? If such money is generated, why not inject it into electricity when they are telling us they lack liquidity? What sense does it make for our local industries and economy to be dying because of electricity while export is building other countries’ economies?” Okorie asked.

He added that Nigeria’s economic struggles, including the exodus of professionals and youths, were exacerbated by power shortages, questioning the rationale behind celebrating electricity exports under these conditions.

“It is a shame. Charity begins at home. Let them also explain what the money has been used for when we keep borrowing from the World Bank,” he added.

The global adoption of cryptocurrency has reached a historic milestone, with over 562 million people now owning digital assets, according to a new industry report.

This figure represents a significant increase from previous years, underscoring the growing popularity of cryptocurrencies across diverse demographics and regions.

The report, published by a leading blockchain analytics firm, attributes the growth to several key factors:

Increased Accessibility: Advancements in blockchain technology and user-friendly platforms have made it easier for individuals to buy, store, and trade cryptocurrencies.

Institutional Support: Major financial institutions have embraced digital assets, offering cryptocurrency investment products and payment solutions, thereby legitimizing the market.

Inflation Hedging: In countries experiencing economic instability and currency devaluation, cryptocurrencies have become a preferred alternative for preserving wealth.

Younger Generations: Millennials and Gen Z are leading the charge, viewing cryptocurrencies as a way to participate in decentralized finance and break away from traditional banking systems.

Regional Breakdown

The report highlights varying adoption rates across different regions:

Asia: Leading the charge with over 200 million cryptocurrency owners, driven by strong participation from countries like India, China, and Vietnam.

North America: Approximately 90 million owners, fueled by widespread institutional adoption and regulatory clarity in the United States and Canada.

Europe: Close to 80 million owners, with a focus on Bitcoin and Ethereum as popular investment assets.

Africa and Latin America: Rapid adoption in nations such as Nigeria, Argentina, and Brazil, where cryptocurrencies are seen as a hedge against hyperinflation and unstable local currencies.

Broader Implications

The rise in cryptocurrency ownership reflects shifting attitudes toward digital finance. Experts note that this growing user base enhances the utility and value of cryptocurrencies in everyday transactions and investments

“The increasing adoption of digital assets signals a new financial paradigm where individuals have greater control over their wealth,” said a senior economist from a major financial think tank.

“It also highlights the urgent need for governments and institutions to establish comprehensive regulatory frameworks.”

Challenges and Opportunities

Despite its growth, the cryptocurrency market faces challenges, including regulatory uncertainty, environmental concerns, and security issues. However, the potential for financial inclusion and innovation remains immense.

Companies and governments are responding to this trend by developing blockchain-based solutions, from decentralized finance (DeFi) platforms to central bank digital currencies (CBDCs). Additionally, crypto education initiatives are helping new users navigate the complexities of digital assets.

The Road Ahead

As cryptocurrencies become more integrated into mainstream finance, experts predict that ownership numbers will continue to rise.

Innovations in blockchain technology and increasing acceptance of digital assets in global commerce are likely to drive further growth.

The milestone of 562 million cryptocurrency owners marks a turning point in the evolution of finance.

With more people embracing the opportunities offered by digital currencies, the future of money is becoming increasingly decentralized and digital.