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MTN To Offer 365,000 Smartphones Through Financing Scheme

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MTN Nigeria Communication Plc is set to enable 365,000 Nigerians with access to smartphones by 2023.

The telecommunication firm is set to achieve this through its device financing partnership with Intelligra. This partnership will afford individuals the opportunity to own smartphones with “a buy now, pay later” option.

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According to the Alliance for Affordable Internet, only about 44 per cent of Nigerians have access to smartphones. Smartphones offer individuals a gateway into the digital world, but with its high price, many Nigerians are unable to afford it

Speaking at the launch event, the Chief Marketing Officer, MTN Nigeria, Adia Sowho, said, “Smartphones have become the computer for many Nigerians today.

“Unfortunately, the high costs of these devices have made them out of reach for many. Factors such as forex fluctuation, chipset shortages, and inflation are continuously driving up the cost of phones.”

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She explained that while MTN had been working on a partnership with Intelligra for a while, its partnerships came to life in January 2022 and had since taken form in 200 outlets where people could walk in and get smartphones with zero initial deposit and repayment overtime with airtime.

She added, “Through this initiative, we have financed over 20,000 devices. With the launch of 5G, MTN is deepening its partnership with Intelligra to drive 5G mobile device growth.

READ ALSO: SIM-NIN: 22 Days After Ban, Telcos Lose N76bn, Subscribers Stranded

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“By 2023, we want to achieve 1,000 units of devices daily transactions even as we onboard more outlets, especially in the North.”

Sowho stated that with the partnership, customers would have the opportunity to subscribe to any MTN bundle plans for as low as N7,000/month and walk away with smartphones of their choice and pay within six to 12 months.

They can also get bundle plans with up to 100 GB of data, 250 voice minutes monthly and redeem a one-time free screen replacement when broken.

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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