Nigeria News (Standard)
ATCON Warns High Interest Rate Threatens Nigeria’s $1trn GDP Ambition at NCC Meeting in Abuja
Telecom operators urge urgent regulatory action as 33% lending rate, forex challenges endanger sector growth and digital economy targets
Telecom operators urge urgent regulatory action as 33% lending rate, forex challenges endanger sector growth and digital economy targets
The Association of Telecommunications Companies of Nigeria (ATCON) has raised alarm that the prevailing 33 per cent commercial interest rate is endangering the sustainability of Nigeria’s telecom sector and jeopardising the federal government’s target of achieving a $1 trillion Gross Domestic Product by 2030. This warning was delivered in Abuja on Tuesday during a stakeholders’ consultation convened by the Nigerian Communications Commission (NCC) on Mobile Termination Rates (MTR).
During the meeting, ATCON’s Coordinator of Telephone Operators, Chidi Ibisi, outlined how the high cost of borrowing, coupled with persistent foreign exchange volatility and inflationary pressures, is eroding the gains made since the sector was liberalised in 2001. According to Ibisi, investment in telecoms has grown from just $500 million at inception to over $75.6 billion today, but mounting economic headwinds now threaten future expansion and service delivery.
Ibisi stated that “High Interest Rates of over 33 per cent, high Foreign Exchange rates, high inflation,” among other challenges, have left operators struggling to finance network upgrades and expansion. He warned that unless regulators promptly implement cost-reflective termination rates for mobile calls, many operators may be forced to scale back operations or halt planned investments, with serious consequences for broadband access and job creation nationwide.
The telecom industry is considered a critical pillar of Nigeria’s digital economy strategy. Experts say any slowdown could undermine efforts to attract foreign investment and meet national targets for internet penetration and financial inclusion. ATCON emphasised that regulatory support is essential to cushion operators from harsh macroeconomic conditions.
While government has so far resisted calls from international bodies like the International Monetary Fund (IMF) to impose new taxes on telecom services and fuel, stakeholders insist that policy stability and improved access to affordable credit remain vital. The NCC said it would consider all submissions before issuing new MTR guidelines, while industry groups plan to continue lobbying for relief measures in the coming months.
Nigeria News (Standard)
Iyabo Obasanjo Returns to PDP, Clinches Ogun Central Senatorial Ticket
Obasanjo’s comeback marks key shift in Ogun politics as PDP leaders welcome her re-entry ahead of 2026 elections
Obasanjo’s comeback marks key shift in Ogun politics as PDP leaders welcome her re-entry ahead of 2026 elections
Former Senator Iyabo Obasanjo has officially rejoined the Peoples Democratic Party (PDP) and secured the party’s ticket to contest for Ogun Central Senatorial District in the upcoming general elections. The development took place in Abeokuta, Ogun State, on Thursday, 18 June 2026, as party stakeholders endorsed her candidacy.
Obasanjo’s return was confirmed during a PDP meeting attended by local party executives and delegates from Ogun Central. Sources within the party said her nomination was unopposed after rival aspirants stepped down, paving the way for her to emerge as the consensus candidate. Party leaders described her return as a strategic move expected to strengthen PDP’s chances in the South-West zone.
Obasanjo previously represented Ogun Central in the Senate and is widely regarded for her legislative experience. Her re-entry into the PDP comes at a time when the party is seeking to reclaim lost ground in Ogun State, following recent electoral setbacks. Political analysts say Obasanjo’s profile could help mobilise grassroots support and attract undecided voters ahead of next year’s polls.
PDP officials present at Thursday’s meeting welcomed Obasanjo back into the party fold, stating that her decision would boost internal unity and increase women’s participation in politics. “We believe Senator Iyabo Obasanjo will deliver quality representation for Ogun Central,” one local chieftain said during the endorsement ceremony. Efforts to reach opposition All Progressives Congress (APC) representatives for comment were unsuccessful as at press time.
With this development, attention now shifts to how other parties will respond ahead of their own primaries. Political observers expect a keen contest for Ogun Central as major parties finalise their candidate lists before the Independent National Electoral Commission (INEC) deadline.
Nigeria News (Standard)
Peter Obi Declares Readiness to Sacrifice Life for Nigeria Amid Rising Insecurity
Former LP presidential candidate urges leaders to prioritise national security over politics as non-state actors gain ground
Former LP presidential candidate urges leaders to prioritise national security over politics as non-state actors gain ground
Former Labour Party (LP) presidential candidate, Peter Obi, has stated his willingness to lay down his life for Nigeria if required, calling on political leaders across the country to put the nation’s security and unity above personal safety or ambition. Obi made this declaration during a recent interview addressing the persistent insecurity affecting states nationwide.
Speaking from Lagos on Tuesday, Obi emphasised that effective leadership demands courage and a readiness to make sacrifices, especially as armed groups continue to challenge the authority of government in several regions. “If you’re ready to live, you must be ready to die. If you’re not ready to die, go home,” he said, adding that he would not hesitate to return from abroad if war broke out in Nigeria. “I’m ready to die here. It’s one country. We cannot have non-state actors take over the state,” Obi affirmed.
Obi’s remarks come at a time when communities in the North-West and North-Central face ongoing threats from banditry, kidnapping and terrorism, while southern states contend with communal violence and other security challenges. Many Nigerians have expressed concern that political activities ahead of future elections are overshadowing efforts to restore safety and order across local government areas.
The former Anambra State Governor insisted that governments at all levels must focus on safeguarding lives and property rather than prioritising electoral calculations. He argued that no nation can progress if criminal elements operate unchecked or undermine state authority. “Leaders must be willing to make difficult decisions in the interest of the country,” he added.
Obi’s comments have attracted mixed reactions on social media. Supporters praised his patriotism and commitment, while some critics argued that genuine solutions require robust policies alongside personal sacrifice. The opposition could not be immediately reached for comment on Obi’s statements. As insecurity continues to dominate national discourse, stakeholders are urging both federal and state governments to increase support for security agencies and implement reforms aimed at ending attacks by armed groups.
Nigeria News (Standard)
Kenneth Okonkwo Rejects Peter Obi’s ₦5bn Lawsuit Threat Over Public Comments
Labour Party chieftain insists he will not retract statements despite legal action; dispute highlights deepening rift within party
Labour Party chieftain insists he will not retract statements despite legal action; dispute highlights deepening rift within party
Kenneth Okonkwo, a prominent Labour Party (LP) member and Nollywood actor, has said he will not retract statements that prompted a ₦5 billion lawsuit threat from Peter Obi, former Anambra State Governor and the party’s 2023 presidential candidate. Okonkwo made this known in Lagos on Thursday, responding to the legal notice recently issued by Obi’s legal team.
The controversy began after Okonkwo made remarks about Obi’s political activities, which the latter considered defamatory. In reaction, Obi’s lawyers demanded a public retraction and apology from Okonkwo within a stipulated timeframe or face a ₦5 billion suit for damages. However, Okonkwo dismissed the demand and insisted on his right to express personal opinions on party matters.
The disagreement has heightened existing tensions within the Labour Party as stakeholders debate issues of internal democracy and accountability following the 2023 general elections. Some LP supporters say public disputes among top members could weaken the party ahead of future polls, while others argue that open criticism is necessary for reform.
Obi’s representatives have maintained that they are only seeking to protect his reputation against what they describe as unfounded allegations. However, Okonkwo has stood his ground, saying he will not be intimidated into silence over issues affecting the party’s direction. “I have said nothing but the truth as I see it. I will not retract my words,” Okonkwo stated.
It remains unclear whether Obi will proceed with court action if Okonkwo fails to comply with the demands. Political analysts say the outcome could further influence public perceptions of unity and transparency within Labour Party leadership as preparations continue for upcoming state and national elections.
Iyabo Obasanjo Returns to PDP, Clinches Ogun Central Senatorial Ticket
Peter Obi Declares Readiness to Sacrifice Life for Nigeria Amid Rising Insecurity
Kenneth Okonkwo Rejects Peter Obi’s ₦5bn Lawsuit Threat Over Public Comments
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