Business
Govt Must Do All to Prevent Monopoly in Telecom Sector, Allow Telcos Breathe With Lesser Taxes – Ogunbanjo
*Govt Must Do All to Prevent Monopoly in Telecom Sector, Allow Telcos Breathe With Lesser Taxes – Ogunbanjo*
Chief Adeolu Ogunbanjo, President, National Association of Telecommunications Subscribers (NATCOMS) in this no holds barred interview with The Guardian x-rays the state of the economy and how the President Bola Tinubu-administration and its policies is affecting the telecom sector, among other developing events in the outgoing year.
*What is your assessment of the general state of the Nigerian economy?*
May 29, 2023 saw the emergence of subsidy removal, that’s fine. Sincerely few individuals, like powerful individuals, you know were conning the resources of the petroleum sector in the country and it needed to be stopped, which was done by President Bola Tinubu. However, the unification of the naira was the mistake the current President did. Those two things shouldn’t have come in the immediate succession.
Subsidy removal, yes, but the unification of the naira was the big blow that actually scattered Nigeria’s economy. Subsidy removal will have its effect, yes we do appreciate that, but to now unify the naira plus subsidy removal that i think in my mind was the mistake the President made.
That is now giving rise to a situation where you now have to drive taxes to make more money for the government. That will lead me to the excise duty of 5% on the telecom sector.
*What is your reaction to the 5% excise duty on the telecom sector?*
Yes, we are currently in court and we will still continue to pursue that, because, recently somebody hinted me that they (the government) may revisit the excise duty tax, which again will spell disaster for the citizenry. I must say that if you remove telecoms and ICT, a lot of people’s business will suffer – that is the only thing we are now leveraging on to showcase ourselves and businesses on social media platforms like Facebook, Instagram, X which was formerly Twitter and WhatsApp that we are enjoying today.
However, on taxes, they (the federal government) should leave telecoms alone, because there are over 40 different types of taxes that are killing the industry. Unfortunately, the banks are not helping matters in the telecoms industry as they are still owing the Mobile Network Operators (MNOs) over N200 billion as we speak.
A huge amount that the telcos would have spent on network expansion, quality of equipment to deploy their services and all that. Well unfortunately that’s the economy as I see it.
*Recently, the telecoms industry ecosystem was disrupted by media reports that MTN Group was in negotiations with Emerging Market *Telecommunications Services (EMTS) – owners of the nation’s fourth GSM operator- to acquire 9mobile’s spectrum. What’s your view about this deal?*
*
We’ve been back and forth on this and I have had the course to put my mouth on this issue, and again I will say that MTN is going through the backdoor to acquire that spectrum. I’m sorry, but that’s the sad truth and the regulator shouldn’t encourage that at all, they should keep it open.
However, coming to your question, unfortunately with just about 6% of the market share, they (9mobile) are not doing that well. For me, I really do not know why they could not recapitalize and why they want another network to acquire them and that another operator (MTN) will now become the dominant service provider. It’s not going to be tidy for the telecoms sector. And in my opinion it should be discouraged. However, even if the merger and acquisition should be done, the regulator should keep it open.
Again, you may want to ask, Why can’t, Glo and Airtel buy it (9mobile) at least they are about, I think one is 20 something per cent and the other about 30 something per cent market share and the regulator should encourage those ones to come to terms with building their network as well.
*Considering 9mobile’s debt history, do you think the other MNOs that you made mention of, have the liquidity to acquire 9mobile?
They will and they can. Don’t forget that there are some funds from multilateral finance organizations. If they apply, it will be granted, because it’s telecoms and we have the market, we’ve got the subscribers base, we’ve got everything. But for 9mobile, they should at least go to town and recapitalize and then come up again and increase their market shares rather than just having a single digit market share which is too low to play and dominate in the Nigerian Telecoms sector, and perhaps that might be the driving force for the board members to say, look we are still single digit market penetration, so why shouldn’t we just sell out.
But, in my honest opinion, I oppose selling out, they should rather recapitalize, they shouldn’t sell out. But if they are going to sell out, it should be thrown open back to the NCC and I expect the NCC to do the needful.
*Some stakeholders believe that, should MTN acquire 9mobile, it will make them more powerful. Do you share in the belief sir?
Very well, Yes. They will be too powerful. They will have bigger control of the market and dictate the direction of things in the sector. In their (MTN) early days they had a lot of funds to play with at a very low interest rate in the 2000-2001 days. They’ve been favored in a way, because the South African Government is ready to assist them as well, plus the fact that multilateral financial organizations are also ready to fund them because of their success stories. But nonetheless, others should not die or go out of extinction because of one particular network operator. They should be encouraged to compete and thrive.
The moment MTN acquire that (9mobile) with their 43 or 44 per cent market share, that means they will have a minimum of about 50 something per cent, and that is half of the Nigerian telecoms market. They’ll have so much power and control over the sector and that means they will be dictating the pace. While I agree it’s a free market, nonetheless we can’t afford to have one dominant force in this space.
Our President is marketing the country’s economic potential to attract more foreign direct investments, so it will be wise not to kill the ones available here. We should encourage others to be major players in the sector. Airtel is there also, they have about 20 whatever per cent, the other one (Glo) is also about 20 something percent. Encourage these ones as well to be major players in the sector, they shouldn’t allow only one player to overtake the entire industry, which is going to be a disadvantage to the benefits of the other players.
Aside from that, if you look at Multichoice, I’m sorry, I don’t know if I can talk about that, they have dominated the pay TV sector in the country, and they have made three increases this year alone to their subscription rate. We don’t want to see that happen in the telecoms sector. No! we don’t. They will be dictating the pace because they have the volume and they control more than 50 per cent market share. And that won’t be tidy for the Nigerian telecoms industry.
*So, what is your advice to the NCC, in terms of strengthening the operations of the Nigerian Telecoms Industry?
As a regulator that they are, they should regulate and ensure that every Mobile Network Operators (MNOs) competes pretty well within the space and also ensures that the competition is healthy. They should regulate the entire telecoms sector without giving any form of preferential treatment to another at the detriment to the growth and development of others.
Let NCC keep its operations open and be fair to all parties concerned by ensuring that they are transparent in whatsoever spectrum that they want to sell or return or give back to the NCC, so that other MNOs can take advantage of the potential in the market and if possible acquire this spectrum.
For instance, I know that some of them have now started deploying the 5G, though China is already looking at the 6th Generation already, but let’s get ours right first. So, it’s good, let them keep exploring other things, but to acquire another MNOs spectrum is unacceptable. But, if the likes of Airtel and Glo say, look we don’t have the money oo, then it is good and fine for a takeover. But, it has to be through the right channel and not the backdoor.
Now, ALTON, the Association of Licensed Telecom Operators of Nigeria is now saying if the government decides to introduce any other taxes, we are going to pass it on. Well on the part of the consumers we will stop the government from going ahead to introduce any taxes, because already the sector is faced with multiple taxes.
Anambra is a fantastic state, they have made a law that makes it free with no tax on laying the Right of Way (RoW) cables. All states should be like Anambra. Governor Charles Soludo, wonderful governor, with what he has done, he is encouraging telecom sector to come to the state and invest by giving them economic friendly terms. And I want other governors to emulate that too.
*Finally, what is your call to action for the Federal Government, NCC and other stakeholders in resolving this spectrum trade off issue?*
Thank you very much for that question. First, let them stop harnessing too much taxes in the telecoms Industry. Let the government now expand their tax net, not just by increasing tax policies, but by getting more people into paying tax. For instance, if we have about 20 per cent of people paying tax now, they should extend it to about 40, 50, or even 60 percent of people to pay tax and they can get more money from there.
The telecoms industry is really suffering, so to help them gain a good balance, let them declare telecoms infrastructure as a critical national asset. Maybe it is because NEPA mast is dangerous to their health, that’s why they are critical national assets, so why shouldn’t all telecom base stations be included as critical national assets. They should do that to avoid poor services and loss to the operators.
Each time, we (NATCOMS) make noise about poor services, ALTON, will say they have burgled our base stations, they have removed this generator, they have killed this and they have killed that. We hear that story all the time, so, the moment they become key critical assets, then it will be protected and service quality of the network operators will be improved upon and will now be enjoyed by the subscribers.
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for Salary Earners, Entrepreneurs and the Diaspora
The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Taking the First Step
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Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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