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NCC Orders MTN to reverse tariff hikes in Nigeria

by Radarr Africa
written by Radarr Africa

NCC, Nigerian Communications Commission said in an emailed statement that its board didn’t approve the increase, which had been initially agreed with the companies. “As a result, it is reversed,” it said. 

Wireless service providers in the West African nation are facing increased operating costs, with inflation accelerating to a 17-year high of 20.8% in September. Cost pressure have been compounded by a weakening currency and more than a 200% jump in the price of diesel, which is required to power towers across the country due to the poor power supply. 

MTN Nigeria is the biggest wireless operator in Africa’s most populous nation, while Airtel Africa, which listed in Lagos and London in 2019, vies with local operator Globacom for the No. 2 slot. 

The regulator said that it had forced the reversal of a proposed 5% tax on telecommunication services earlier this year, “in order to maintain a conducive enabling environment for the telecom operators”. 

ALSO READ: Nigeria’s telecoms regulator shuns ‘unilateral’ tarrif hike, directs telcos to make a reversal

The government’s priority is “to protect the citizens”, and “anything that will bring more hardship at this critical time will not be accepted”, it said in its statement.  

Rising living costs are a key issue in the country as it gears up for national elections in February next year. The ruling party faces stiff competition from the main opposition Peoples Democratic Party and the Labour Party, whose candidate has emerged as the frontrunner in three separate opinion polls. 

Source: News 24

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AfricaAFRICA NEWSAirtelBusinessBusiness InsightsDangote IndustriesMobile Telecommunications Network (MTN)NewsNigeriaTelecommunicationsWestern Africa

Top 5o Brands: Dangote emerges most valuable brand in Nigeria

by Radarr Africa
written by Radarr Africa

The 2022 annual top corporate brand evaluation report, “TOP 50 BRANDS NIGERIA” has been released. Dangote Group, a fully integrated Conglomerate has again emerged as the Most Valuable Brand in the country.

Dangote emerged top with an aggregate score of 83.7 Brand Strength Measurement (BSM) Index score. This is followed by MTN, Globacom and Access Bank in fourth place.

Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank and UBA at fifth to tenth positions respectively.

The annual top brands evaluation report which is now like a report card, with which top corporate brands have an independent opinion about their brand performance, from the consumers’ points of view has also become a sort of ‘bragging’ right and a source of pride for the brands that made the top 50 league table, particularly, those that took the lead.

In a statement after the public presentation, the rating firm said: “The annual top brand evaluation is a qualitative, non-financial estimation of value of top corporate brands in the country.

A measure of consumers’ perceptions and how positive or otherwise towards a brand, and how this affects its overall strength, using the Brand Strength Measurement (BSM)index, a model that tests a brand’s ability to deliver on its promise to the consumers from the consumers’ points of view.

Brands today have become a necessary part of our everyday’s life, from waking moment to going to bed, even the choice of bedding.

This is so much more in the light of emergence of concepts of consumer awareness, differentiation, purchase justification and the new world economy, the brand is playing a quintessential role.

In his address TOP 50 BRANDS NIGERIA, CEO, Taiwo Oluboyede said, “Brand has become a critical differentiator that helps consumer’s choice and also separates the top corporate organisations from the others and even much more.

He likened the task of building formidable and continuously strong brand to a flower, he said “When you plant a flower, you keep watering and pruning it to grow and until it blossoms, and this you do for its lifetime.

“If you omit or forget to prune or water, regardless of how beautiful it is at the beginning, it dies. The same is applicable to brands.

ALSO READ: Dangote Sugar commits billions to CSR schemes in Adamawa, Nasarawa

That is why we have seen brands that dropped from the 50-league table in recent times, while new ones emerge.”

He said further “So, the responsibility lies with the owners and promoters to consistently maintain compelling propositions and live up to their promises.

As we all know, it’s not just about making propositions, but living up to its demands and consistently so. This is what makes a top brand.”

Source: Techeconomy

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