Elon Musk’s internet service company, Starlink, has increased the monthly subscription for its service in Nigeria, citing “excessive inflation.”
The company hiked its monthly subscription fee by 97% from N38,000 to N75,000. According to Starlink, the new subscription rate would take effect from October 31 for current customers while it takes effect immediately for new customers.
Starlink kits (hardware) for new users, was also increased by 34% from N440,000 to N590 000.
This is the second time Starlink has increased subscriptions although it has also reviewed the prices downward several times.
“Due to excessive levels of inflation, the Starlink monthly service price will increase from current rates to the respective rates below: Standard (Residential): N75,000; Mobile- Regional (Roam Unlimited): 167,000; Mobile – Global (Global Roam): N717,000,” it said in message to its customers Tuesday morning.
“As a current customer, your monthly service price will increase in 1 month, beginning 31 October 2024. For new customers, the price increase is effective immediately.”
“If you do not wish to continue your service, you can cancel at any time.”
Starlink officially announced its presence in Nigeria in January 2023 and changed its price initially quoted in dollars at $600 for the hardware and $43 for the subscription, to naira upon its official announcement.
Its hardware and monthly subscription at the time stood at N268,584 and N19,260, however, that was at the official dollar exchange rate, which stood at around N450/$1 at the time.
The prices later rose to N378,000 and N38,000 for the hardware and subscription following the unification of exchange rate.
The prices were reduced by 21% in October, 2023 to N299,500 for the hardware but in November 6th, it reverted to N378,000. It however increased the hardware price N800,000 in March 2024 and later revised it downwards to N440,000.
As at the last quarter of 2023, Starlink has 23,897 active customers in Nigeria.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
