NCC Flags Telecom Risks as Local Fintechs Challenge Airtime Loan Monopoly

The Nigerian Communications Commission (NCC) is intensifying its campaign to safeguard the nation’s telecoms infrastructure, reminding stakeholders that any disruption could have dire consequences for both the economy and national security.

This renewed warning follows a recent industrial dispute in which oil suppliers threatened to embark on a strike that would have crippled fuel supply nationwide. The potential fallout was far-reaching: without fuel for backup generators, mobile voice and data services for millions of Nigerians could have gone dark. The swift suspension of the strike averted a nationwide connectivity crisis, but the NCC insists that the incident underscores how fragile Nigeria’s communications lifeline can be.

At the same time, fresh NCC market data reveals a subtle but telling shift in the country’s internet landscape. Active subscriptions across mobile, fixed, and VOIP networks slipped slightly from 141.5 million in May to 141.1 million in June, a 0.3% drop. The dominance of the “big four”, MTN, Airtel, Globacom, and T2 formerly 9mobile, remains unshaken, controlling 140.6 million of those connections, leaving very limited space for smaller operators to compete.

But while infrastructure stability remains a pressing concern, another battle is brewing in Nigeria’s telecom ecosystem: the fight to open up the ₦5.6 trillion airtime lending market. For years, MTN’s exclusive partnership with South Africa-owned Nairatime has given the latter an overwhelming grip on the sector. The arrangement, which sees revenues split 75-25 in MTN’s favor and charges consumers a flat 15% interest on airtime loans, has long drawn criticism from consumer advocates.

Now, with the 2025 lending regulations approaching, local fintech companies are circling. Civil society groups and fintech associations are lobbying the Federal Government to fast-track enforcement of the rules, which they say will finally break the foreign monopoly, level the playing field, and open the door for homegrown innovation.

This moment in Nigeria’s telecoms story is about more than numbers, it’s about resilience and control. The oil suppliers’ near-strike showed just how interconnected fuel supply, telecom operations, and national stability are. Meanwhile, the looming end to an airtime lending monopoly could mark a turning point for Nigerian innovation, where local companies are given a fair shot at a massive market. The question is whether regulators can act fast enough to protect both the backbone of communication and the future of competition.

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