Business
NCC cancels plan to hike Data services tariff as Federal Government, Senate kick against act
Minister of Communications, Mr. Adebayo Shittu, yesterday, absolved the Federal Government of complicity in the bid by the Nigerian Communications Commission, NCC, to increase the price consumers pay on data services. The Minister distanced his ministry from the controversial data tariff increase, denying that it authorized it. This came as the Senate also, yesterday, condemned in totality the planned tariff increment and asked network providers to immediately stop implementation of the new tariff billed to take effect today. Reacting, telecoms regulator, the Nigerian Communications Commission, NCC, announced immediate suspension of the new minimum pricing template for data services by mobile operators in the country, explaining that its decision was informed by the need to make more consultations.
Speaking on RayPower FM’s Fact File programme, yesterday, Adebayo maintained that the Federal Government never issued any directive to either the regulator, the NCC, or the telecommunications operators in the country authorizing increases in prices of data from today as claimed.
“I can tell you that I was never a party to it (data tariff hike). Government never gave any such instruction. This government believes in democratic process and we would continue to protect the interest of Nigerians,” he said’’.
On its part, the Senate condemned in totality the tariff increment by service providers in Nigeria and asked network providers to immediately stop the implementation of the new tariff billed to take effect today. Noting that the new tariff regime was ill-timed and anti-people, because of the present economic situation in the country, the Senate summoned Shittu, NCC, and network providers to appear before its Committee on Communications to intimate it on why they must increase data tariffs. The Senate also asked its Senator Gilbert Nnaji-led Committee on Communications to commence a comprehensive investigation into the matter that has, among others, generated controversies across the country and report back within one week. The resolutions of the upper chamber were sequel to a motion moved by Deputy Senate Leader, Senator Bala Ibn Na’Allah, during which he condemned the planned hike in data tariffs, saying it would further impoverish the people. It will be recalled that some telecommunications service providers had issued statements to customers, through customised Short Message Services, SMS, intimating them of imminent plans to increase tariff on all mobile data purchased with effect from Thursday, December 1, 2016. According to service providers, the development is in connection with new guidelines by the regulator, NCC.
Also speaking, Vice Chairman of the Committee on Communications, Senator Solomon Adeola (APC, Lagos West), who described the policy as not only ‘unholy’ but also ‘unfriendly’, however, assured the Senate that the committee would act on the mandate and report back to it next Tuesday. “We are up to the task, and I can assure the Senate that we will swing into action immediately. “We will invite all the necessary agencies that are involved in this policy that is unholy and unfriendly and get back to the Senate unfailingly on Tuesday,” Adeola said. In his remarks, Senate President, Bukola Saraki, who accused the NCC of failing to carry out enough consultations before announcing the policy, also asked the committee to investigate allegations of non-compliance with laid-down regulations by telecoms operators. NCC had in a letter addressed to telecoms operators on November 1, 2016, put the interim floor price for data services at 0.90k/MB for big operators, adding that “this rate will subsist, pending the finalization of the study on the determination of cost-based pricing for retail broadband and data services in Nigeria. “In order to provide a level-playing field for all operators in the industry, small operators and new entrants to acquire market share and operate profitably, small operators and new entrants are hereby exempted for the price floor for data services. “For the avoidance of doubt, a small operator is one that has less than 7.5 per cent market share and a new entrant is an operator that has operated less than three years in the market. All operators are to ensure that subscribers are not automatically migrated to pay-as-you-go platform. Also, note that effective date for the interim price floor is December 1, 2016.” Acting on this directive, some telcos sent text messages to their subscribers on Monday, announcing the hike in its data tariffs beginning today.
Meanwhile, NCC, yesterday, announced the immediate suspension of the new minimum pricing template for data services by mobile operators in the country.
“Following concerns that visited the directive to introduce price floor for data segment of the telecommunications sector, beginning from December 1, 2016, the Nigerian Communications Commission, NCC, has suspended any further action in that direction. “The decision to suspend this directive was taken after due consultation with industry stakeholders and the general complaints by consumers across the country.”
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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