Business
Nigeria telecoms operators warn of poor services after unsuccessful data tariff hike plan
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) on Thursday told consumers to expect poor data services, a day after the Nigerian Communications Commission was compelled by public backlash to suspend a planned tariff raise.
The chairman of ALTON, Gbenga Adebayo, said in a statement in Lagos that there was need for an upward review of the tariff, so as to offer better data services to subscribers.
Mr. Adebayo said the operators fully understood the public sentiments that greeted the announcement of a minimum data tariff being introduced by the Nigerian Communications Commission (NCC).
He said the NCC intervened to set the data tariff floor in view of its statutory responsibility to promote healthy competition, by periodically reviewing voice and data tariffs in the industry.
According to him, the commission’s intervention was to ensure the sustainability of the Nigerian telecommunications industry.
He also said the regulatory body had extensive consultation with the industry prior to the finalisation of the data tariff floor.
“Further, the commission has since Wednesday suspended the implementation of its determination on the data tariff floor.
“ALTON notes that it is within the statutory remit of the NCC for it to make decisive interventions to address the data price concerns which had led to data prices falling to unreasonably low levels.
“This is with the effect that telecommunications operators were unable to recover the cost of providing data services and reinvest in capacity expansion to accommodate the increased usage arising from lower tariffs.
“The situation has been compounded by the recent economic challenges characterised by the steep depreciation of the naira.
“It is characterised by the need to resort to the parallel market and foreign exchange scarcity, which have considerably increased the capital and operational cost of providing telecommunications services.
“This has made current data tariffs unsustainable.
“This situation, if left unaddressed, could result in a sustained deterioration in the quality of data services across all networks and the attendant poor quality of experience for users.
“In this regard, our members await the conclusion of NCC’s market study, when the commission will be in a position to determine its requisite intervention,” Mr. Adebayo said.
He said that NCC introduced the minimum price for data services to help ensure cost recovery and drive the continued investment in the telecommunications sector.
The ALTON chairman said it was necessary for the provision of world-class data services for the overall benefit of the Nigerian subscriber and the Nigerian economy.
“It is our belief that interventions such as these are in keeping with the NCC’s tradition of implementing customer-centric regulatory initiatives such as the Do-Not-Disturb Service and the Mobile Number Portability Scheme.
“These were introduced to enhance customer satisfaction with telecommunications services.
“ALTON also notes that price changes for data services across all networks following any intervention by the NCC are not expected to have a detrimental effect on broadband penetration contrary to some sentiments being expressed in the media.
“ALTON wishes to emphasise that while it is imperative that telecommunications operators continue to explore opportunities to provide their subscribers with more value for their money, it is important that prices be set at realistic levels.
“This will ensure that subscribers are not only able to afford services, but that operators are also in a position to provide first-rate Quality of Service to their subscribers,’’ he said.
The News Agency of Nigeria (NAN) reports that NCC on Wednesday suspended any further action on the directive to introduce price floor for data segment of the telecommunications sector beginning from December 1, 2016.
The Director, Public Affairs, NCC, Tony Ojobo, said in a statement that the decision to suspend the directive was taken after due consultation with industry leaders and the general complaints by consumers across the country.
Mr. Ojobo said the commission had weighed all of these and consequently asked all operators to maintain the status quo until the conclusion of study to determine retail prices for broadband and data services in Nigeria.
He said the regulatory body wrote to the Mobile Network Operators (MNOs) on November 1, on the determination of an interim price floor for data services after the stakeholder’s consultative meeting of October 19. (NAN)
FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament
Lagos, 30 March 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.
ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.
Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”
Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”
Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”
Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”
The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.
FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.
Business
Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning
Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning
Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.
The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.
Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the Bank’s commitment to supporting institutions that drive intellectual growth and national development.
As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com
PHOTO
L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr. Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026
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