FG Slashes Data Prize In Nigeria By 50%

 FG Slashes Data Prize In Nigeria By 50%

The Federal Government on Thursday, December 10, said it has reduced the curent cost of internet data by 50%.

This was revealed by the Minister of the Federal Ministry of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami who stated that the reduction was made possible in line with his directives to the service providers through the industry regulator, the Nigerian Communications Commission, NCC.

According to him, this directive came to effect earlier in November 2020. Pantami explained that the average cost of 1GB data was reduced from N1,000 cost of January 2020 to N487.18 in November 2020.

The Minister stated that the new internet data prices was a resolution from a government committee inaugurated in December 16 2019 to develop the Nigerian National Broadband Plan (2020-2025) which was unveiled and launched by President Muhammadu Buhari in March 2020.

“One of the goals of the Plan is to reduce the average cost of 1GB of data to a maximum of N390 by 2025,” Pantami said.

“With the January 2020 baseline of N1,000 per GB, the maximum projected steady decrease for the end of each year was as follows: 2020 (N925), 2021 (N850), 2022 (N775), 2023 (N700), 2024 (N545) and 2025 (N390)”.

“In line with Dr. Pantami’s commitment to under promise and over deliver, the measures have caused the current cost of data to reduce significantly beyond the December 2020 projection of N925″, the statement read.

“Based on the report by NCC, the average cost of N1,000 data as of November 2020 was N487.18, which amounts to 47.33% lower than the projected value. “The report also indicates that the cost of data in November 2020 was less than 50% of the cost of data in January 2020,” the statement said.

Pantami assured that the Ministry of Communications and Digital Economy through the NCC, will continue to ensure that consumers enjoy a price regime that supports fairness and is friendly to consumers.

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