Business
Mixed Feelings Trail Telecom Tariff Hike …As Bayelsa Consumers Lament
Telecommunication consumers in Bayelsa State have continued to express mixed feelings over the recent fifty per cent tariff hike in telecom services by telecom firms in the nation.
The Tide learnt this through separate interviews conducted by newsmen in Yenagoa, the State capital and environs.
Consumers in their numbers expressed frustration over the development, which, according to them, has further worsened the economic struggles they face.
They urged the government and telecommunication operators to review the prices downwards to ease their financial burden.
Fielding questions from Journalists, some consumers, who spoke on condition of anonymity, said the record high cost of living and unprecedented inflation many Nigerians are witnessing, while also grappling with unbearable financial and economic burdens, has been worsened by the hike in telecom tariff hike.
According to a cross-section of respondents, soaring prices of petrol, gas, basic food stuff, and now the 50 per cent tariff in telecommunication services, particularly mobile data, has added to the misery faced by consumers.
According to Ms. Emilia, a Business woman and mother of four, the big jump in the price of mobile data by the major network service providers has worsened her economic woes.
She said having been unable to rent a shop, she opted to take her business online.
The newsmen, who also spoke with Chief Aherhoke Okioma, a Journalist with The Daily Times, who depends on mobile data to file his report and keep abreast of happenings in a modern society, expressed regret, saying the increase in prices by the telecom companies is “choking economically”.
The Tide further reports that respondents say the hike in data is “putting a big hole” in their pockets as money meant for other purposes is now spent to purchase more airtime.
It would be recalled that the House of Representatives, following a motion of urgent public importance raised by the member representing Yenagoa/Kolokuma/Opokuma Federal Constituency of Bayelsa State, Hon. Oboku Oforji, had directed the telecom regulator and the Minister of Communications, Innovation, and Digital Economy to suspend the tariff increase, arguing that Nigerians cannot afford higher telecom costs amid rising inflation and the removal of fuel subsidies.
While the National Association of Telecoms Subscribers has rejected the increase, describing it as insensitive and a more burden on consumers who are already grappling with economic challenges and poor network and service delivery, Industry stakeholders, particularly the Association of Licensed Telecommunications Operators of Nigeria, have defended the tariff increase, arguing that it is vital for the long-term sustainability of the sector.
In response to customer complaints, an official of a telecom service provider, who would not want his name mentioned, told The Tide that the tariff increases which was necessitated by rising operational costs was necessary to serve subscribers better.
The Tide also learnt that Nigeria currently has over 160 million mobile telecommunication line subscribers, making telecom services no longer a luxury, but a necessity.
“From job seekers using data to browse opportunities to small business operators relying on it to connect with customers and market products, the tariff hike is cutting deep into their pockets and suffocating their finances”, a group of subscribers said.
Ariwera Ibibo-Howells, Yenagoa
Business
Bank Supports Female Entrepreneurs With Grants
Kolomoni Microfinance Bank has awarded grants to five female entrepreneurs to boost their businesses as part of its commitment to promoting women in business.
The initiative, organized to mark International Women’s Day, was themed “Accelerate Her Growth.”
According to the bank, the decision to support women was inspired by World Bank data, which shows that 41 percent of Nigeria’s micro-businesses are owned by women.
Delivering the keynote address, business strategist, Ebun Akinwale, emphasized that entrepreneurship requires resilience, creativity, and passion.
She illustrated this by recounting her own business challenges and highlighting the critical role passion plays in overcoming obstacles.
The event underscored Kolomoni’s mission to empower women and support small businesses in Nigeria.
Other speakers at the occasion were Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert.
The beneficiaries said the financial support was a validation of their hard work and a boost of confidence towards scaling through in their businesses.
The winners were selected after sharing their entrepreneurial journeys and presenting business proposals for financial assistance from the bank.
Business
Nigerian SME Awards: Providus, Access, Others Compete For Honor
The 8th edition of the Nigeria Small and Medium Enterprises (SMEs) Summit and Awards (Nigeria SMEAwards) is set to take place in Lagos for the first time in its history, marking a significant milestone for this prestigious event.
Endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the annual awards celebrate the entrepreneurial spirit driving Nigeria’s economy.
The visionary convener of NigeriaSMEAwards 2025, Adedayo Olalekan, said, “Governors from Zamfara, Sokoto, Ebonyi, Borno, Enugu, Ekiti, Benue, and Kaduna States have all implemented transformative initiatives that have greatly benefitted local enterprises.
“Their contributions will serve as a beacon of inspiration for the nation.”
Speaking at a recent press conference in Lagos, Olalekan emphasised that the event would introduce a fresh and unique approach, moving away from tradition.
“Despite economic challenges, Nigerians continue to show an unwavering commitment to progress”, he said.
He noted that the awards will not only honor outstanding individuals, but also recognise the critical role state governments play in nurturing vibrant SMEs.
“State governments have been instrumental in fostering a supportive environment for SMEs, which in turn benefits both the awardees and the larger economy.
“With major banks like Providus, Access, and First Banks competing for top honors, the 8th NigeriaSMEAwards promises to be a night of celebration, recognising exceptional contributions to Nigeria’s SME landscape”, Olalekan added.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians continue to show remarkable resilience.
Their efforts, according to reports, have contributed to job creation, economic growth, and overall prosperity, with SMEs at the forefront of this success.
This year’s awards will recognise governors who have made significant strides in advancing the SME sector within their states.
Business
SMEs Experts Urge MSMEs To Remain Focused
Small and Medium Enterprises (SMEs) consultants in Rivers State have called on entrepreneurs to be focused and avoid distractions.
The experts, who were speaking on the recent developments about the change of leadership in the state, said entrepreneurs need to put more efforts in their businesses in order to break even in the present situation in Rivers State.
Speaking in a chat with The Tide, an international SMEs consultant, Amb. Larry Goodwill Ajiola, said the political moves is capable of distracting SMEs who are not grounded in their businesses, adding that “the serious minded business men and women would utilise the opportunity to increase their revenues”.
Amb Ajiola, who is the President and Chief Executive Officer (CEO) of Rumuomasi Co-operative and Credit Society Limited, Port Harcourt, said, “Rugged entrepreneurs look out for business opportunities in situations around them, whether good or bad”.
He reiterated that the loan facility given to 3,000 SMEs in the state revived and expanded businesses, adding that the empowered businesses should continue to push, no matter the situation.
“credit is a powerful tool for achieving financial security.
“We can only keep imagin the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the Local Government Areas in terms of Gross Domestic Prooduct (GDP), increased tax returns, employment creation, income distribution, and production of goods and services”, he said.
Another SMEs Expert, a business consultant and SMEs trainer, Mr. Chisom Sam-Orji, in his advice, noted that every SME in the state should realize that change is the only constant thing.
He said SMEs should also know that “tough times never last, but tough people do”, adding the need for every entrepreneur to stay focused on creating value and remain resilient.
“This is not the time to be distracted by every noise around your space, but to maximize every time you have to focus on the essentials and keep creating value.
“For some people, it may just be the time to diversify, create new products and services to serve a new or existing market. But this must be based on the facts available to you via research and market surveys”, he said.
The SMEs expert also said the present time in the life of an entrepreneur is a time to cut off unnecessary excesses that surround one’s business.
“Those extra costs that may hamper your growth in this season and beyond, and focus on just essentials.
“SMEs should find certain leverages that are available to aid their business growth. This could be in form of grants, knowledge, and other leverage tools.
“Collaboration is one big way to grow in this season. Finding ways to collaborate with like minds instead of competing could enable a product or service gain advantage in the market and beyond.
“They should also find ways to sustain and grow their customer relationship as this is key to sustaining business flow. They must seek new and efficient ways to serve their customers and gain their loyalty”, he stated.
He further called on every entrepreneur to keep building capacity and never take their eyes off their visions, adding the need to muster every courage it takes to keep building and moving forward.
Lilian Peters
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