In Nigeria, staying connected now feels like a luxury
Not the way you want to start the new year.
If you live in Nigeria where there has been a massive cost of living crisis and record inflation in the past few years, staying connected might feel like a luxury right now.
A 40% hike in calls, SMS, and data is expected to take effect pretty soon – and coming 11 years ago after the last tariff increase when the country's telecom sector was thriving. The telcos have argued that inflation, currency depreciation, and rising energy costs have eroded their profit margins, so the country's telco regulator appears to have folded to the pressure.
But it’s not just local telcos. Starlink, the Elon Musk-owned internet service, is also doubling its subscription fees starting January 27, a move which could negatively impact a sector that is already grappling with a 29% subscriber loss.
For the Nigerian people, this feels like a punch in the gut, especially at the start of a new year.
– Kelechi
How to Enhance Photo Quality with AI: A Detailed Guide
Learn how to enhance photo quality with AI and make your photos flawless and HD quality within five seconds.
LEARN MORE📰 News & Insights
What it means: iPhone owners since 2014 could receive up to $20 per Siri-enabled device from the $95 million settlement.
Why it matters: The funding raised represented a 25% drop from 2023, when startups secured $2.9 billion, marking the continent’s first decline in years.
- Anthropic is reportedly in advanced talks to raise $2 billion in a funding round that would value it at $60 billion.
- BRICS has officially welcomed nine new countries as "partner states."
- In 2024, venture capital funding in the U.S. rose by 30% compared to 2023.
