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Nigeria has one of the cheapest mobile data prices in Africa

Data from UK-based price comparison website — Cable, has shown that Nigerian telecoms companies offer some of the cheapest mobile data rates in Africa.

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MTN, Airtel, Glo, other Telcos' operating costs drop to N1.756 trillion in 2019, Nigeria has one of the cheapest mobile data prices in Africa

A report from UK-based price comparison website — Cable, has shown that Nigerian telecom companies supposedly offer some of the cheapest mobile data subscription rates in Africa.

According to the report, Nigeria rank 11th out of 57 African countries, with an average price of $2.22 for 1 Gigabyte (GB).

Cable gathered the data for 6,313 mobile data plans in 230 countries of the world.

 Highlights of the report

  • Rwanda has the cheapest average price of $0.56 for 1 GB data. Hence, it ranked 1st.
  • Sudan and Congo (Democratic Republic) rank second and third respectively with an average price of 1 GB data sold for $0.68 and $0.88 respectively.
  • Nigeria ranks 11th on the list of 57 African countries, with an average price of $2.22 for 1GB.
  •  Zimbabwe has the highest average price of $75.20  for 1GB and thereby rank 57th.
  • Saint Helena and Equatorial Guinea rank 55th and 56th as one of the highest average prices of 1 GB data. In both countries, 1 GB of data go for an average price of $55.47 and $65.83 respectively.

High data prices in some large African economies

  • Contrary to what one might expect, South Africa has one of the most expensive data subscription rates in Africa. According to the ranking, the country occupied the 41st position because South Africans pay an average price of $7.19 for 1 GB. Note that South Africa is one of the most developed countries on the continent.
  • Similarly, Algeria has an average price of $5.15 for 1 GB data, which is why the country was ranked 32nd on the list.
  • Also, in Angola, 1 Gb of data goes for an average price of $7.95. The country is ranked 42nd.

Other African countries with low data prices 

  • Data shows that Egypt has one of the lowest average prices of $1.49 and the country is ranked 4th on the list.
  • Similarly, Ghana is ranked 6th with an average price of $1.56 for 1GB.
  • Likewise,  Morroco as one of the biggest economies in Africa is ranked 7th on the list with an average price of $1.66 data for 1GB.
  • Nigeria is ranked 11th with an average price of $2.22 for 1GB.
  • Other African countries within the top 10 of low average prices of data include Sudan ($0.68), Congo Dr ($0.88), Western Sahara ($1.66), Cameroon ($1.71), Guinea ($1.94) and Burundi ($2.00).

What the statistics imply

Low data subscription rate will encourage more people to to buy and be connected to the internet. Recall that an earlier analysis by Nairametrics suggested that the more people are connected to the internet, the greater the chances for the ICT sector to contribute to the country’s GDP.

Moreover, cheap data rate is good for the Nigerian economy, especially now that many companies use the internet as a veritable for a whole lot of functions. For instance, access to internet avails small and medium-sized enterprises (SMEs) immense opportunities and useful information.

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Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

1 Comment

1 Comment

  1. Dex

    March 8, 2019 at 9:38 am

    Data is not truely cheap be in Nigeria, You buy 1,000ngn for 1G on the average, you are told it’s valid in 1 month ,at the end you get to buy more than 3times in a month because it’s last for a few days at times for heavy users less than 48hours

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Economy & Politics

Governors to meet on Wednesday over rising insecurity

The governors of the 36 States of the federation will hold an emergency virtual meeting to discuss growing insecurity in the country.

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Oil Price Crash: Governors to meet on budgetary and economic issues, Insecurity: Governors to meet on Wednesday over rising insecurity

The Nigerian Governors Forum (NGF) has announced that the Governors of the 36 States will hold an emergency virtual meeting to discuss the recent killings and kidnappings by terrorist groups, and agree on a new national security plan to secure the lives of citizens.

This was disclosed in a statement by Head, Media and Public Affairs of the NGF, Mr Abdulrazaque Bello-Barkindo, on Monday in Abuja.

(READ MORE: Labour leaders reportedly walk-out on Ministers over fuel, electricity price hike)

The NGF disclosed in its statement that the Governors would also receive updates on the events following the disbandment of the SARS alongside the rising insecurity.

Other issues that will be discussed by the Governors include:

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  • CACOVID funding palliatives and updates across the states.
  • Joint meetings between the CBN and Kaduna State Governor, Nasir el-Rufai, on accessing pension funds to finance infrastructure development.
  • Updates on the ASUU strike. Issues related to Stamp Duty and the Water Resources Bill will also be discussed at the meeting.

What you should know 

There has been a rise in reported cases of kidnappings and killings by terrorists groups and bandits, especially in Northern Nigeria.

Nairametrics reported earlier that President Muhammadu Buhari had condemned the killing of farmers by Boko Haram on Saturday. The President added that the Federal Government had given the armed forces support to tackle insecurity in the country.

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Coronavirus

Covid-19: FG to reduce fatalities by strengthening capacity – Health Minister

The Minister said that the ministry plans to increase its capacity to battle the disease through personnel supervision.

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Minster for health, FG ignores travel ban calls despite Uganda, US, others move against coronavirus, FG reports 10 new cases of COVID-19, COVID-19: FG to inaugurate 18-man vaccine task team

The Federal Ministry of Health (FMOH) has announced plans to reduce case fatalities of the Covid-19 pandemic by focusing on improving the capability to manage the virus.

This was disclosed by the Minister of Health, Dr. Osagie Ehanire, during the daily Joint National Briefing of the Presidential Task Force (PTF) on Covid-19 in Abuja.

The Minister said that the ministry plans to increase its capacity to battle the disease through personnel supervision.

He said, “We hope to reduce case fatalities by strengthening our capacity to manage cases, but it is only possible if persons test themselves early. All cases, whether home-based or institutional are to be supervised by medical personnel. This is particularly  important, given the threat posed by the spiralling rate of infection in countries with which Nigeria has strong political, business, social, and family relations.”

(READ MORE: FG may stop interstate and inter-town travels)

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He urged Nigerians to cut off travel to high-risk countries, as the travel rate determines the risk the ministry could contain with.

“There is a correspondingly high volume of travel between Nigeria and those countries, which is what also determines the risk. I also urge all Nigerians to cut off all travels, especially international travels, most especially travels to high risk countries, except it is very urgent.”

He stated that it might take Nigeria a while before securing the vaccines, even though the country had started the process of securing access to a vaccine.

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“Although we are positioning our country for access to the Covid-19 vaccine, it may still take a while for countries to access it and for all citizens to be vaccinated. It is, therefore, more realistic that we adopt preventive measures which have proven to be successful in controlling the pandemic,” Ehanire added.

What you should know: Nairametrics reported in October that Dr. Ehanire said Nigeria increased its daily testing capacity for Covid-19 to over 3,500/day.

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Financial Services

Fidelity Bank MD/CEO purchases 5 million additional shares worth N12.97 million

The MD/CEO Designate of Fidelity Bank Nigeria Plc has purchased an additional five million units of the bank’s shares.

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Fidelity Bank M.D purchases 5 million additional shares worth N12.97 million

The Managing Director/CEO Designate of Fidelity Bank Nigeria Plc, Mrs. Nneka Onyeali-Ikpe has purchased an additional five million units of the bank’s shares totalling N12.97million.

This is according to a notification, signed by the bank’s Secretary, Mr. Ezinwa Unuigboje, and sent to the Nigerian Stock Exchange Market yesterday, as seen by Nairametrics.

What you should know

The breakdown of the disclosure showed that the transaction took place in five tranches with an average share price of N2.56.

  • First tranche: 260,190 units of the bank’s share were bought at N2.52 each, amounting to N655,678.8
  • Second tranche: 400,000 units of the bank’s share were bought at N2.55 each, amounting to N1.02million.
  • Third tranche: 130,000 units of the bank’s share were bought at N2.58 each, amounting to N335,400.
  • Fourth tranche: 2,870,000 units of the bank’s share were bought at N2.60, amounting to N7.46million.
  • Fifth tranche: 1,339,810 units of the bank’s share were bought at N2.56, amounting to N3.43million.

(READ MORE: Fidelity Bank slashes growth forecast, readies Eurobond coupon ahead of due date)

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In summary, the total transactions incurred by the MD in buying 5 million additional shares grossed N12.97million.

What this means

The recent corporate action indicates growing optimism in the bank’s future and potentials, which could be a pull factor to other investors.

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