Telecom
Smile to Sink $292m in Nigeria’s Investment Portfolio

Smile Communications, the 4G LTE broadband service provider of choice, has disclosed plans to invest larger share of the funds it recently raised on the Nigerian business portfolio.
Smile Telecoms Holdings Ltd (‘Smile’), which owns and operates mobile wireless 4G LTE broadband networks in the 800MHz band in Nigeria, Tanzania and Uganda, recently announced that it has raised USD 365 million of debt and equity financing (‘the funding’).
Speaking to journalists in Lagos over the weekend, Dr. Azudialu Obiejesi, chairman, Smile Communications Limited (Nigeria), disclosed that about 80% of the funds shall be invested in Nigeria, representing about $292million of the total sum.
The funding is comprised of USD 50 million of equity, raised from the Public Investment Corporation on behalf of Government Employees Pension Fund (‘PIC’) and a USD 315 million multi-tranche, multijurisdictional debt facility led by African Export-Import Bank, with participation from the Development Bank of Southern Africa, Diamond Bank PLC, Ecobank Nigeria, the PIC, the Industrial Development Corporation of South Africa Limited and Standard Chartered Bank.
Smile’s shareholders now comprise the Al Nahla Group, a Saudi Arabia-based company, which is the majority shareholder; Renven Investment Holdings, a pan-African investment vehicle in which Nigerian investors, including the Obijackson Group, own the majority share; Verene, representing Smile senior management and social entrepreneurs from South Africa; Telecom Investments, a Saudi Arabia-based investment company; Capitalworks, an active alternative-management company specialising in investment in the African mid-market; the PIC; and Smile employees.
Under the terms, the funding will be used to accelerate national network roll-out, including equipment and services provided by Alcatel-Lucent and Ericsson, a full MPLS (Multiprotocol Label Switching) network, a London point of presence and expanded international backhaul services, as well as to fund operational expenditure and working capital.
On what percentage of the funds is Smile doling out for investment in Nigeria, Obiejesi said, “If you look at the analysis with regards to Smile as a pan-African company, but the majority of the business is in Nigeria. This is market where about 80% of Smile business comes from. So, it is also expected that about 80% of that money will be spent in Nigeria.
“This is the economy the company hopes to invest and recoup its resources too. This is where we have the population, growth tendencies, the businesses, and the oil and shows you that Nigeria is very large and sustainable for businesses too. Therefore, both in infrastructure deployment and the funds usage, it is expected that Nigeria will have a fair share. Other market will be sharing the remaining percentage.
“This simple analysis was part of the reasons the pan-African banks doled out the funds. They know Nigeria has the capacity to give back what is invested”.
The Chairman reiterated that Smile’s objective is “to become the broadband provider of choice for superfast data and clear voice in each of its markets and to provide over 300 million potential customers in its four countries of operation with a fast, reliable and high-quality platform to accelerate development and wealth creation”.
Telecom
Reps Approve NCC’s N479.508Bn Budget for 2026

House of Representatives, during Tuesday’s plenary, approved the sum of N479.508 billion budget for the Nigerian Communications Commission (NCC) for the 2026 fiscal year.

The resolution was passed after the clause-by-clause consideration of the report at the Committee of Supply.
While giving synopsis of the report, Peter Akpatason, chairman, House Committee on Communications, explained that the total sum of N479,508,260,000 is to be issued from the Statutory Revenue Fund of the Nigerian Communications Commission.
Out of the issued sum, N124,440,652,000 is meant for Recurrent Expenditure; N26,779,045,000 is for Capital Expenditure; N32,011,492,000 is for Special Projects, while the sum of N20 billion is for Transfer to Universal Service Provision Fund (USPF), N276,277,071,000 is for Transfer to Federal Government for the financial year ending 31st December, 2026.
Telecom
NCAN Commends NCC for Mandating Telcos to Compensate Subscribers for Poor Services

National Consumers Advocacy Network (NCAN), a consumer advocacy group focused on protecting the rights of consumers, has commended the Nigerian Communications Commission (NCC),for introducing a policy compelling telecom operators to compensate subscribers for poor network service.

In a statement issued on Tuesday and signed by Dr Tobi Olanrewaju, its president, the group described the directive as a bold and consumer-focused intervention.
The group noted that the move, which has already seen major telecom operators begin compensating subscribers with airtime credits, marks a shift from what it described as regulatory leniency to measurable accountability.
“For years, Nigerian telecom subscribers have endured suboptimal service quality with little or no consequence for operators,” the statement read.
“What we are witnessing under Dr Aminu Maida is a clear assertion that regulatory oversight must translate into tangible benefits for consumers. This is not merely about compensation; it is about restoring trust in the system.”
According to Olanrewaju, the policy’s provision for automatic compensation without requiring subscribers to lodge complaints demonstrates a strong understanding of the challenges faced by many Nigerians.
“This intervention acknowledges a fundamental principle that the burden of service failure should not rest on the consumer,” he said.
He added that linking compensation directly to actual service disruptions at the local level sets a new standard in regulatory practice.
The group also praised the Commission’s decision to monitor service quality at the Local Government Area level, describing it as a step towards capturing real user experiences rather than relying on general national data.
Olanrewaju further commended the Commission’s simultaneous push for telecom operators to invest in network upgrades, noting that the approach addresses both immediate and long-term concerns.
“While consumers receive immediate value for past deficiencies, the root causes of poor service are being systematically addressed,” he said.
The advocacy group urged telecom operators to embrace the directive as an opportunity to rebuild consumer trust and improve service delivery.
It also called on other regulatory agencies to adopt similar people-centred approaches in tackling systemic challenges across sectors.
“Dr Maida has demonstrated that regulation, when properly executed, can serve as a powerful tool for social and economic justice,” Olanrewaju added.
The group reaffirmed its support for the Commission’s ongoing reforms and called for sustained collaboration between regulators, operators, and consumers.
It added that the true success of the policy would be measured by lasting improvements in network performance across the country.
Telecom
Telcos Recover N2 Trillion following Crackdown on Indebted Subscribers

Telecommunications operators in Nigeria have reportedly recovered over N2 trillion from subscribers in a sweeping debt recovery campaign that has left millions unable to make calls due to unpaid airtime and data loans.

The aggressive enforcement follows new compliance requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC), which telecom operators reportedly failed to meet, according to The News Chronicle.
This led to the suspension of airtime and data lending services and triggered a nationwide push to recover outstanding debts.
As part of the measures, indebted subscribers have had their lines restricted from making calls until their loans are fully repaid.
The move has disrupted daily life across Nigeria, particularly for small business owners and workers who depend heavily on mobile connectivity.
The lending service, valued at over N400 billion annually, has long served as a financial lifeline for many Nigerians, especially those without access to formal credit systems.
However, its sudden suspension has forced users to seek alternative means to clear their debts or abandon their lines altogether.
Meanwhile, a legal dispute involving Nairtime Nigeria Limited has added another layer of complexity.
A Federal High Court in Abuja recently ordered MTN Nigeria and Airtel Nigeria to maintain access to key telecom infrastructure, including USSD and SMS services linked to the platform.
Despite the court’s interim injunction, lending services tied to the platform remain unavailable, indicating ongoing tensions between telecom providers, regulators, and fintech firms.
Industry stakeholders warn that the disruption highlights deeper challenges within Nigeria’s digital economy, where telecom infrastructure increasingly supports financial services.
Millions of users who rely on airtime and data borrowing remain disconnected, caught between regulatory policies, corporate disputes, and the need for affordable communication.
As pressure mounts, both regulators and telecom operators are expected to seek a resolution that balances consumer protection with uninterrupted access to essential digital services.
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