The Nation Newspaper

Category: Business

  • Telcos, banks refund N10b to subscribers

    Telcos, banks refund N10b to subscribers

    • Customers get cashback for failed airtime, data transactions

    Telecom sector regulator, the Nigerian Communications Commission (NCC) yesterday said mobile network operators (MNOs) and Deposit Money Banks (DMBs) have refunded subscribers over N10billion cash for failed airtime and data purchase.

    Director of Consumer Affairs at the NCC, Mrs. Freda Bruce-Bennett who disclosed this said the framework jointly drawn by the Commission and the Central Bank of Nigeria (CBN) has established a Central Monitoring Dashboard to be jointly hosted by the NCC and the CBN.

    Head, Public Affairs at the NCC, Nnenna Ukoha, assured that the Commission has the data of all the failed transactions, adding that when the framework becomes up and running by March1, 2026, every subscriber affected by such failures would be refunded.

    According to Mrs. Bruce-Bennett, failed top-ups rank among the top three consumer complaints, adding that the Commission is committed to addressing these priority issues.

    “So far, pending the approval of management of both regulators on the framework, MNOs and banks have collectively made refunds of over N10 billion to customers for failed transactions,” she said.

    She said the NCC and the CBN have drawn a framework to address consumer complaints arising from unsuccessful airtime and data transactions during network downtimes, system glitches, or human input errors.

    READ ALSO; Still on Nigeria’s re-designation as ‘country of particular concern’

    The framework, she said, is the outcome of several months of engagements involving the NCC, the CBN, Mobile Network Operators (MNOs), Value Added Service (VAS) providers, Deposit Money Banks (DMBs), and other relevant stakeholders. These engagements were prompted by a rising incidence of failed airtime and data purchases, where subscribers were debited without receiving value and experienced delays in resolution.

    The Framework represents a unified position by both the telecom and financial sectors on addressing such complaints.

    It identifies and tackles the root causes of failed airtime and data transactions, including instances where bank accounts are debited without successful delivery of services. It also prescribes an enforceable Service Level Agreement (SLA) for MNOs and DMBs, clearly outlining the roles and responsibilities of each stakeholder in the transaction and resolution process.

    Under the new framework, where a purchaser is debited but fails to receive value for airtime or data—whether the failure occurs at the bank level or with an NCC licensee—the purchaser is entitled to a refund within 30 seconds, except in circumstances where the transaction remains pending, of which the refund can take up to 24 hours.

    The framework further mandates operators to notify consumers via short message service (SMS) of the success or failure of every transaction. It also addresses erroneous recharges to ported lines, incorrect airtime or data purchases, and instances where transactions are made to the wrong phone number.

    According to her, the dashboard will enable both regulators to monitor failures, the responsible party, refunds, and track SLA breaches in real time.

    She said: “Failed top-ups rank among the top three consumer complaints, and in line with our commitment to addressing these priority issues, we were determined to resolve it within the shortest possible time.

    “We are grateful to all stakeholders—particularly the CBN and its leadership—for their tireless commitment to resolving this issue and arriving at this framework, and for ensuring that consumers of telecommunications services receive full value for their purchases.

    Mrs. Bruce-Bennett further noted that implementation of the framework is expected to commence on March 1, 2026, once the two regulators have made final approvals, and technical integration by all MNOs, VAS providers and DMBs is concluded.

  • Credit available to manufacturers dips by N810b

    Credit available to manufacturers dips by N810b

    Operators in the real sector, particularly manufacturers, have cried out over Nigeria’s current average lending rate of 36.6 per cent, which they describe as “high and restrictive.”

    They lamented that the asphyxiating lending rate of 36.6 per cent has forced a reduction in credit access to the manufacturing sector to N7.72 trillion as at March 2025, down from N8.53 trillion in December 2024, representing N810 billion dip.

    Manufacturers, under their umbrella association, Manufacturers Association of Nigeria (MAN), said the high lending rate hinders production and reduces the sector’s competitiveness.

    MAN, in its ‘Manufacturing State of Affairs’ which reviewed the sector’s last year’s performance and outlook for the current year, said the Central Bank of Nigeria (CBN’s) recent benchmark interest rate cut is “commendable and signals a welcome policy shift.”

    READ ALSO: Kano’s unfolding power game

    The Association, however, insisted that the time has come for the apex bank to take a bolder step by introducing a deeper rate cut that can meaningfully lower the cost of credit and stimulate real sector investment.

    “Growth cannot thrive where capital remains prohibitively expensive,” MAN Director General Segun Ajayi-Kadir, said, in the document which was made available to The Nation, during the week.

    The CBN, citing progress in disinflation, made its first policy easing in five years, trimming the Monetary Policy rate (MPR) by 50 bps to 27 per cent.

    Monetary policy remained tight for most of last year, with the CBN holding the Monetary Policy Rate (MPR) at 27 per cent to anchor inflation expectations and stabilise macroeconomic conditions.

    Towards year-end, the CBN adopted a cautious easing stance, lowering the MPR to 27 per cent as inflation moderated, signalling a gradual shift towards disinflation while preserving macroeconomic stability.

    Despite the rate easing, Ajayi-Kadir said high interest rates still restricted lending, with credit to the private sector falling to N75.83 trillion in August 2025 from N76.13 trillion in June 2025, for instance.

    He, therefore, called for further reduction in the benchmark interest rate to reduce the cost of borrowing for manufacturers.

    The MAN DG insisted that it is essential to reduce the cost of funds to encourage borrowing for expansion and investment.

    He further stated that persistent high lending rates will further limit access to affordable credit for manufacturers, especially those within the Small and Medium Industries (SMI) cadre.

    “The situation is complicated with prevailing structural challenges like poor infrastructure, high logistics costs, inadequate electricity supply, high energy cost and insecurity that cumulatively raise production costs and weaken competitiveness,” Ajaiyi-Kadir said.

    He also sought a relief for manufacturers by way of launching a Manufacturing Refinancing and Rediscounting Facility (MRRF) that allows banks to refinance approved manufacturing loans at single-digit rates for up to seven years.

    Ajaiyi-Kadir also called for the creation of a publicly accessible dashboard tracking lending flows, interest rate spreads, loan approvals and sectoral disbursement patterns in real time.

    “CBN should consider additional policy instruments or incentives that facilitate credit flow to the real sector of the economy, especially the manufacturing sector,” the MAN chief added.

    He also called on the federal Government to approve the N1 trillion stabilization fund for manufacturers and direct the CBN to increase the capital base of the Bank of Industry (BoI) to meet the credit demand of industries.

    On its part, MAN, he said, will advocate for specialised financing mechanisms for manufacturing, including a Manufacturers Bank offering long-term concessionary credit.

    Manufacturers’ outcry over lending rate come n the heels of projection by PwC Nigeria that credit conditions may remain tight in 2026, as both supply and demand-sides constraints may limit private-sector borrowing.

  • Togo, Niger, Benin owe Nigeria $17.8m for electricity supply

    Togo, Niger, Benin owe Nigeria $17.8m for electricity supply

    Though Nigerians are struggling with poor electricity supplies and estimated billings neghbouring African countries may just be enjoying our electricity more than us because there are indications that the sub Saharan countries that get supplied light from Nigeria enjoy steady supplies.

    Millions of Nigerians have decried the situation they see as unfortunate with millions of households living daily and deprived of electricity forcing them to provide electricity themselves through Solar panels, Inverters, Generators etc which consume a greater part of their income monthly.

    According to the NERC, Togo, Niger, and Benin owe Nigeria $17.8million, about N25billion at the current exchange rate of the Naira, for electricity supplied under the existing bilateral arrangements.

    In its 3rd quarter  2025 report  NERC disclosed that the three international customers were invoiced a total of $18.69million by the Market Operator for electricity supplied during the period, but unfortunately they remitted only $7.125million, leaving an outstanding balance of $11.56million.

    Similarly, the international bilateral customers had legacy invoices of $14.7million, out of which they paid only $7.84m, leaving a balance of $6.23million.

    READ ALSO: Kano’s unfolding power game

    It added that the international off takers of power included Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of the Republic of Benin, and Société Nigérienne d’Électricité of the Republic of Niger.

    According to NERC, the three international bilateral customer’s purchasing power from the grid-connected GenCos made a cumulative payment of $7.125million against the $18.69million invoice issued to them by the Market Operator for services rendered in the third quarter 2025.

    It stated that the remittance level represented a 38.09 per cent remittance performance, with over half of the invoices remaining unpaid at the end of the quarter.

    It explained that the electricity supplied to the three countries was generated by grid-connected Nigerian generation companies and delivered through bilateral cross-border power arrangements.

    “The three international bilateral customers being supplied by GenCos in the NESI made a payment of $7.12million against the cumulative invoice of $18.69million issued by the MO for services rendered in 2025/Q3, translating to a remittance performance of 38.09 per cent”.

    In contrast, NERC said that domestic bilateral customers performed better, remitting N3.19billion out of the N3.64 billion invoiced to them during the quarter, representing a remittance rate of 87.61 per cent.

    “The domestic bilateral customers made a cumulative payment of N3.19bn against the invoice of N3.64bn issued to them by the MO for services rendered in the 3rd quarter of 2025, translating to 87.61 per cent remittance performance,” it added.

  • NUPRC, NMDPRA meet to resolve overlapping issues

    NUPRC, NMDPRA meet to resolve overlapping issues

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have pledged deeper cooperation to streamline regulation, resolve overlapping issues and attract greater investment into Nigeria’s oil and gas industry. 

     The commitment was sealed during a high-level meeting at NUPRC headquarters in Abuja where both agencies agreed to establish dedicated liaison teams and institute quarterly joint meetings to proactively address regulatory challenges.

    NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, described the oil and gas sector as “the heartbeat of the nation’s economy” and stressed that seamless collaboration between the two regulators is indispensable for sustained growth. 

    READ ALSO: Senator Kalu replies Otti, says Tinubu, APC will win Abia in 2027

     “We are enablers for the industry,” she said. “Sometimes there is no fine line between upstream, midstream, and downstream. If we are not working together, that becomes a problem. Today marks the beginning of many more productive interactions as we put forces together to ensure the industry grows astronomically.” 

    Eyesan also invited NMDPRA to support the ongoing 2025/2026 licensing round, which offers 50 oil and gas blocks, and extended a formal invitation to the Authority Chief Executive to attend the pre-bid conference scheduled for January 14, 2026, at Eko Hotels and Suites, Lagos. 

    In response, NMDPRA Authority Chief Executive, Engr. Saidu Aliyu Mohammed, highlighted the shared heritage of both agencies as successors to the former Department of Petroleum Resources (DPR). He called for stronger “brother-and-sister” relations and urged that any differences be resolved internally and amicably.

  • PwC: Nigeria’s GDP to grow by 4.3%

    PwC: Nigeria’s GDP to grow by 4.3%

    Nigeria’s real Gross Domestic Product (GDP) will grow at about 4.3 per cent this year, supported by higher crude oil production and stronger performance in dominant sectors, PwC Nigeria has projected.

    Headline inflation is also projected to moderately ease, supported by the Central Bank of Nigeria (CBN’s) tight monetary policy stance, rebasing effects, and improved stability in the foreign exchange market.

    PwC Nigeria, which gave these projections in its ‘Economic Outlook 2026’ released on Wednesday, also said the naira is expected to remain broadly stable through 2026, underpinned by ongoing CBN reforms and improved portfolio inflows.

    With regards to interest rate, the PwC report said with inflation trending down, the CBN may cautiously ease its monetary policy stance this year.

    The report, however, said fiscal sustainability risks are expected to persist, driven by low revenue to GDP, fiscal leakages, higher spending and elevated debt service obligations.

    PwC Nigeria said with fiscal constraints persisting, they reinforce the importance of capital efficiency and balance-sheet discipline.

    Against this backdrop, PwC Nigeria highlights practical imperatives for business leaders in 2026: making selective investment bets in attractive sectors and regions, and scenario-planning for macroeconomic and geopolitical shocks.

    Other imperatives for business leaders include adapting business models and cost structures for resilience, accelerating digital transformation and responsible AI adoption, and strengthening regulatory and tax compliance as reforms move from design to execution.

    PwC Nigeria’s Economic Outlook 2026 examines how recent gains in macroeconomic stability are reshaping the operating environment for businesses, investors, and markets as Nigeria moves into 2026.

    The report, which was made available to The Nation, finds that Nigeria recorded improvements in macroeconomic stability in 2025 following key monetary and foreign-exchange reforms, with inflation easing, exchange-rate conditions stabilising, and external reserves strengthening.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

    PwC’s Outlook highlights how this stability is influencing strategic business choices this year, particularly around investment, cost and funding decisions, and regulatory, tax, and digital priorities.

    Country Senior Partner, PwC Nigeria, Sam Abu, said: “PwC Nigeria’s Economic Outlook 2026 provides forward-looking analysis of key macroeconomic indicators and what they signal for the economy and for business leaders.

    “Nigeria has achieved improved macroeconomic stability over the past year. The focus now is how that stability is translated into sustainable economic growth, and how businesses position for 2026. For companies, this stability provides a more predictable operating environment for planning, investment, and growth decisions.”

    The Outlook identifies seven key issues shaping Nigeria’s economic performance in the year ahead, spanning global and domestic forces.

    These include monetary policy effectiveness, fiscal sustainability and reform execution, global economic and geopolitical dynamics, domestic security and social pressures, uneven sectoral growth, consumer affordability constraints, and the expanding role of the digital economy and Artificial Intelligence.

    Also speaking on the outlook, Partner and Chief Economist, PwC Nigeria, Olusegun Zaccheaus, said: “The seven themes in the Outlook show how global and domestic forces will shape economic performance in 2026.

    “Globally, growth is projected at around 3.1 per cent, while merchandise trade growth slows to about 0.5 per cent, keeping oil prices, capital flows, and access to foreign inflows as key channels influencing Nigeria’s growth and FX liquidity.

    “Domestically, improved monetary effectiveness has reduced volatility and clarified pricing, cost, and funding signals, even as fiscal pressures, security challenges, and weak household purchasing power continue to shape sector outcomes.”

    According to Zaccheaus, “growth is more likely to remain concentrated in services and selected capital-intensive sectors, placing a premium on disciplined capital allocation and sector selection.”

  • ‘Tax-to-GDP ratio lower than Africa’s average’

    ‘Tax-to-GDP ratio lower than Africa’s average’

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the country’s tax-to-Gross Domestic Product (GDP) ratio is below Africa’s average.

    This was contained in the Policy Brief the watchdog organization published titled: “Beyond Assent: Pathways for Implementing Nigeria’s New Tax and Revenue Framework.”

    The document, which was released to The Nation exclusively yesterday said, “Despite its economic potential and resource wealth, Nigeria’s tax-to-GDP ratio of just 9.4 – 10.86 per cent below the African average of 16.8 per cent and the minimum 15 per cent threshold recommended by the African Union for sustainable development.”

    According to NEITI, the result is a chronic revenue shortfall that has undermined public investment, widened the infrastructure gap, exacerbated inequality, and increased Nigeria’s exposure to debt and external vulnerabilities.

    The document further noted that at the same time, decades of extractive industry audits and analyses have consistently exposed systemic inefficiencies in revenue assessment, collection, and remittance.

    It added that the inefficiencies are compounded by data opacity, un-remitted revenues, arbitrary tax waivers, weak inter-agency coordination, all of which contribute to the loss of billions of Naira annually.

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    NEITI, however, stressed that the new tax reform offers an opportunity to correct these structural deficiencies, modernize Nigeria’s tax administration, and build a stronger foundation for domestic fiscal sustainability.

    On the other hand, the document said while the objectives of the reform are laudable, their realization hinges on how the framework is designed and implemented.

    The document also throws light on the features of the tax reform as it relates to designated revenue accounts.

    NEITI said in addition to the comprehensive classification of revenues, remittances are required to be into separate accounts designated for each revenue type/stream.

    It also said that alternatively payments are required to be separated in bank statements to show, for each payment, the name of the paying entity, the receiving entity, and the purpose of the payment for proper revenue tracing and reconciliation.

    On penalties, the document said non-compliance with tax remittances range from fines to revocation of licenses.

    It noted that the Petroleum Profit Tax Act (PPTA) requires entities to file and pay their tax within five months of the end of the accounting year.

    Failure to file and pay within the stipulated time, according to NEITI, is to attracts penalty of 10 per cent of the amount due, as well as interest at the prevailing commercial rate.

  • Economy resilient despite uncertainty, says FirstBank chief

    Economy resilient despite uncertainty, says FirstBank chief

    Despite macroeconomic pressures—currency adjustments, inflationary cycles, shifting trade dynamics and global uncertainty Nigeria economy continues to demonstrate resilience, CEO FirstBank Group, Olusegun Alebiosu has said.

    Speaking at the FirstBank Nigeria Economic Outlook 2026 with theme: “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth” in Lagos, he said the there is need to position Nigeria competitively in a recalibrating global economy, understand the sectors that will drive resilient growth and how businesses and institutions build durability amid volatility.

    He said: “At FirstBank, resilience is not a slogan, it is a legacy spanning over 131 years. We have navigated cycles, supported businesses through transitions, financed ambition and stood as a stable partner to individuals, enterprises and government alike. Today, we remain deeply committed to being the institution of choice—trusted, capital-strong, digitally enabled and positioned to partner Nigeria’s next phase of growth,” he said.

    He said that looking ahead to 2026 and beyond, the opportunities before us are significant. Demographics, technology, climate imperatives, regional trade and capital flows are reshaping competitiveness. For Nigeria, success will depend on disciplined reforms, investment in human capital, scalable infrastructure and strong financial intermediation.

    “It will also depend on partnerships; between the public and private sectors, between capital and enterprise and between insight and execution. Today is therefore not about abstract diagnosis. It is about direction and decisions. The conversations here will shape strategies in boardrooms, influence investment flows and inform policy and business choices in the months ahead,” he said.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Continuing, he said FirstBank, believes that informed decisions are the foundation of sustainable progress.

    “That belief underpins this platform and our broader role in the economy. We are proud to convene leading economists and researchers, industry leaders, digital and technology experts, as well as policy and strategic thinkers who will provide practical insight, challenge assumptions and illuminate the road ahead,” he said.

    Other speakers also gave insights on their expectations on the domestic economy. 

    The keynote speaker, Group Chief Economist & Managing Director of Research & Trade Intelligence, Afrexim Bank, Yemi Kale, said falling inflation numbers, gradual monetary easing, improved external reserves and managed FX flexibility are indicators of macroeconomic stabilization.

    He also listed infrastructure gaps, energy constraints, skills mismatch and security and governance risks as indicators of structural challenges in the economy.

    He advised economic managers to find ways to unlock long-term domestic capital, that would translate growth to jobs.

    He said that naira devaluation will not go away soon, adding that devaluation in naira happens every five to six years.

    He advised companies to hedge against naira devaluation through market diversification.

    Head, Treasury Sales & Derivatives Marketing, FirstBank, Ayokunle Ojo, spoke on the need for companies to build strong cash flows that will make their operations resilient.

    He also spoke on the need for compliance and also found ways to navigate the uncertainty in today’s energy world.

    Also speaking, Managing Partner, Verrak, Niyi Yusuf, said companies should focus on their core competent areas, and provide quality services to sustain their market control.

    Head, Equities and Alternative Solutions, First Asset Management, Laura Fisayo-Kolawole, said the domestic economy is currently benefiting from disinflation, which makes the investment climate profitable to investors.

  • ‘Nigeria can earn $10b yearly from cashew industry’

    ‘Nigeria can earn $10b yearly from cashew industry’

    the National Cashew Association of Nigeria (NCAN) has said that Nigeria stands to earn as much as $10 billion annually from the cashew industry if appropriate policies, strategic investments and effective value-addition measures are implemented,

    The National President of NCAN, Dr Ojo Joseph Ajanaku, made this known during a press briefing in Abuja ahead of the forthcoming Nigeria Cashew Day.

    He said Nigeria has the landmass, human resources and market access required to become a major global player in cashew production and processing, but is held back by weak policy frameworks, poor data management and inadequate local processing capacity.

    Ajanaku explained that the Nigeria Cashew Day initiative, launched in Benin in 2023, was designed to convene stakeholders across the entire value chain  from farmers and processors to marketers and service providers  to highlight the enormous but largely untapped potential of the sector.

    He said the event, which moved to Enugu in 2024 and Lagos in 2025, is scheduled to hold in Abuja in 2026 to allow direct engagement with the federal government at the highest level.

    “Our aim is to have a national cashew policy that is owned by Nigerians, not one imposed by external interests. We want a policy that protects the industry, promotes organic cashew, and allows us to fully own what we produce,” Ajanaku said.

    He noted that while Nigeria has about 92 million hectares of land  with over 34 million hectares of arable land currently unused, it still lags behind countries like Côte d’Ivoire, which has a far smaller landmass but records higher cocoa and cashew output.

    “With proper harnessing, the Nigerian cashew industry can create jobs for over 50 million Nigerians. There is nothing lacking, we have the land, the population and the financial capacity to be the number one cashew producer in the world,” he said.

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    Ajanaku emphasised the need for Nigeria to go beyond raw production and become a major processing hub, warning that exporting unprocessed cashew nuts results in huge losses in revenue, employment and foreign exchange.

    He expressed concern that many top cashew-producing states do not have processing plants, pointing to Kogi State as an example.

    “Kogi is one of the leading cashew-producing states in Nigeria, yet it has no single cashew factory. If factories are located in producing areas, our children will be employed, and rural economies will grow,” he said.

    The NCAN president urged state governments to provide incentives that would attract investors to establish processing facilities, while also encouraging local entrepreneurs to invest in their states of origin.

    He also decried the lack of reliable production data, noting that Nigeria currently depends on export figures to estimate its cashew output.

    “We don’t have the correct statistical structure to determine how much cashew we produce. Worse still, a large volume of cashew leaves the country without records, as exporters bypass official procedures to avoid repatriating proceeds,” he said.

    According to NCAN, officially documented exports from the last season exceeded 400,000 metric tonnes, valued at about $700 million, although the actual volume is believed to be significantly higher.

    Ajanaku said Nigeria could increase production to more than 2 million metric tonnes annually within five years, and possibly surpass 4 million tonnes in the long term.

    “At a conservative price of $1,500 per tonne, producing 2 million tonnes would generate $3 billion, excluding by-products,” he explained.

    He further highlighted the economic value of cashew by-products such as Cashew Nut Shell Liquid (CNSL) and residue cake, which are often wasted locally but sell for about 95 cents per kilogram on the international market.

    “If we process what we produce locally and fully exploit the value chain, Nigeria can earn a minimum of $10 billion annually from the cashew industry,” he said.

    He however noted that the upcoming Nigeria Cashew Day would be used to demonstrate to global investors that Nigeria is ready to do business and capable of taking a leading role in the international cashew market, provided the right policy choices are made.

  • Marketers partnering Dangote may crash pump prices below N739

    Marketers partnering Dangote may crash pump prices below N739

    Some of the independent marketers partnering with Dangote Refinery may vend the pump prices of the Premium Motor Spirit (PMS) below N739 per litre very soon, The Nation learnt yesterday.

    It was also learnt that the refinery commenced the virtual training of the affiliate retail outlets staff on Tuesday.

    Soon after the training, the refinery will commence the free direct delivery of products to the filling stations that are affiliated to it.

    Some of the partnering companies are MRS, Ardova Petroleum (AP), Garima, Heyden, and Optimal.

    The Nation reported in December that the partners aside from MRS were yet to sell petrol at the refinery’s rate because they were yet to receive the product from the direct delivery.

    Read Also: Nigeria can earn $10bn yearly from cashew industry, says NCAN

    Speaking with The Nation on phone on Tuesday, the Independent Petroleum Marketers Association of Nigeria (IPMAN), National President, Alhaji Abubakar Maigandi revealed that owing to the profit margin between the N699 per litre gantry rate and the N739/l, it is possible for some of the independent partners of the refinery to sell the product below N739/ litre.

    His words: “Some of the independent marketers that will take the free delivery from Dangote may sell it lower than N739/l.

    “ If you check the gantry rate of N699/l, there is over N25/l profit that makes the adjustment easy in a competitive market.”

    The Nation observed that the petrol market in the Federal Capital Territory (FCT) hovered around N739 to N930 per litre.

    While MRS vended the product at N739/l with relative queues, A.A. Rano sold it at N840/litre as Total maintained N920/litre and other independent marketers sold it for N930/ litre and so on.

    The product was accessible hitch-free from the other retail outlets in accordance with the market fundamentals.

  • Limited Time Offer: 25% discount on Starlink and more on Konga Jara

    Limited Time Offer: 25% discount on Starlink and more on Konga Jara

    As the nation embraces the possibilities of a fresh calendar year, Konga, Nigeria’s leading composite e-commerce platform, has officially announced the launch of its inaugural shopping campaign of 2026, tagged Konga Jara. It is designed to help shoppers transform new year aspirations into tangible realities through exceptional deals, setting the tone for a year of value-driven shopping, customer-focused innovation, and accessible technology for Nigerians nationwide.

    Konga Jara brings a combination of mouthwatering deals across multiple product categories, with a standout offer of 25 per cent discount on Starlink internet kits, alongside free nationwide delivery.

    The campaign draws its name from the beloved Nigerian concept of “jara” — that delightful extra portion traders add to purchases. It reflects Konga’s philosophy of consistently delivering more value for every naira spent.

    To qualify for the Starlink discount, customers are required to meet specific activation and verification conditions. After purchase, customers must activate their kits at starlink.com/activate, ensuring the activation process is fully completed, although powering on the kit is not required at that stage. Customers must then submit their activation details via email to starlinkactivation@konga.com. The activation date and time must match Starlink’s system records, as the rebate is validated only after verification. All discounts and rebates are subject to applicable terms and conditions.

    Read Also: DisCos raked in N570b in Q3, install 228,614 meters

    According to Konga, the decision to spotlight Starlink during the Konga Jara campaign reflects the growing importance of reliable internet access in today’s digital-first economy. Connectivity now underpins work, learning, entrepreneurship, and everyday communication. By making Starlink kits more affordable and easier to access, Konga is responding directly to a pressing need faced by households and businesses across Nigeria.

    “We listened carefully to what Nigerians said they needed to truly kickstart 2026 on the right footing,” said Onochie Melvin, Head of Commercial Planning at Konga. “Reliable internet connectivity emerged as the foundation upon which other aspirations depend. Students need it for online learning, entrepreneurs need it to scale digital businesses, and professionals rely on it for remote work. This Starlink offer is not just about selling products; it is about removing barriers that prevent Nigerians from fully participating in the digital economy.”

    Beyond connectivity, Konga Jara empowers shoppers with access to genuine, high-quality products sourced directly from original equipment manufacturers (OEMs). Through strong partnerships with leading global brands, Konga ensures that discounted pricing never comes at the expense of quality or authenticity. Customers benefit from transparent pricing, trusted warranties, and the peace of mind that comes with buying from a reliable platform.

    As a composite e-commerce ecosystem, Konga integrates shopping, payments, and logistics into a seamless experience. From product discovery on Konga.com to secure payment options and efficient nationwide delivery, the platform is structured to save time, reduce friction, and simplify shopping for customers everywhere.

    Shoppers are also encouraged to follow Konga’s official social media channels for exclusive offers from other verticals within the Konga Group. These platforms will feature time-sensitive deals, bundle offers, and special incentives throughout the campaign period.

    As Nigerians settle into 2026 with renewed optimism, Konga Jara offers an opportunity to make smart purchases, invest in reliable technology, and enjoy meaningful savings without compromise. With its blend of generous discounts, free delivery, and trusted sourcing, Konga once again reaffirms its role as a dependable partner in the daily lives and ambitions of millions of Nigerians.

    Shoppers can explore the Konga Jara deals by visiting www.konga.com and following Konga’s official social media pages for ongoing updates and additional offers across the Konga Group ecosystem.