As hands get itchy to start snapping up .ng second-level domains come Tuesday April 16th, we’ve learned that domain registrar, 101Domain.com has put an exorbitant $199 price tag (over N31,000) on each purchase of one of the world’s most valuable extensions.
Last week, Techloy exclusively reported that starting from April 2013, the country’s official domains registrar, NiRA will open up the .ng 2nd level domain for general registration at a price of N15,000 (about $95 USD) per domain name, per year.
According to an industry source, NiRA reportedly said that this fee is fixed and accredited domain name registrars/resellers would not be allowed to mark up the price. However, we speculated that this would happen as most registrars would expect to make some margins from the sale of what could become the most popular domain name extension on the Internet in years to come.
As if the $199 price tag wasn’t enough, 101Domain would also charge you a $15 pre-registration or application fee before you can purchase any .ng SLD through them and this registration process may take up to 3 days.
Granted, 101Domain may be providing an alternative solution for those who may not feel comfortable and safe enough to purchase the .ng domain names from domain registrars based in Nigeria, due to the country’s reputation for Internet-related scams.
But to most people (like me) who’ve found it safe and secure to buy domain names through local domain name registrars with the country’s Interswitch-powered Verve debit cards and Mastercards, this may seem ridiculous considering the fact that you can get the same domain name from local domain registrars for less than $95 in a matter of minutes.
While we wait to see the outcome of the .ng SLD sales in the next couple of weeks, we wonder if other international domain name registrars such as GoDaddy would make the .ng SLDs available for sale on their sites.