Business

MTN CEO Sparks Debate Over ‘Unlimited Data’ Claim as Nigerians Abroad Disagree

Published

4 months ago

June 8, 2026

Preport

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has sparked online debate after stating that truly unlimited data plans do not exist anywhere in the world unless customers are paying extremely high prices.

Toriola made the remark while speaking at a recent event, where he addressed concerns about data pricing and network capacity in Nigeria’s telecommunications sector.

According to him, unlimited mobile data offerings are largely unsustainable due to infrastructure limitations.

“The issue of unlimited data on mobile networks: it doesn’t exist anywhere in the world except if you’re paying a fortune. There’s a limit because you can never build enough capacity for everyone to be on an unlimited bundle, and you think you’ll provide a quality of service that is decent,” he said.

However, his comment has triggered widespread reactions, particularly from Nigerians living abroad, who disagreed with the claim and shared screenshots of their own mobile subscriptions.

Some users in countries such as the United Kingdom argued that they pay for unlimited data plans at relatively low monthly rates, often equivalent to a few hours of minimum wage work, challenging the CEO’s assertion.

The debate has since gained traction on social media, with users comparing global telecom pricing models and questioning the affordability and structure of data services in Nigeria.

Related Topics:MTN CEO Nigerians Unlimited Data

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GCR upgrades Fidelity Bank rating on stronger capital position

Published

2 hours ago

September 22, 2026

Preport

GCR Ratings has upgraded Fidelity Bank Plc‘s national-scale long-term issuer rating to A Plus (NG) from A (NG), while affirming its short-term issuer rating at A1 (NG). The outlook remains stable.

The upgrade reflects Fidelity Bank’s significantly strengthened capital position following the addition of NGN227.0 billion to its total core capital. GCR also recognised the bank’s strong domestic market position, stable funding base and healthy liquidity profile.

Fidelity Bank’s competitive position remains a key rating strength, supported by its strong domestic franchise and nearly four decades of operating experience. With total assets of NGN10.5 trillion and an estimated 8.0 per cent share of the banking industry’s gross loans as of December 2025, the bank ranks as Nigeria’s sixth-largest bank.

The bank also plans to leverage its international banking licence to enter three additional African markets over the medium term. The expansion is expected to diversify its country exposure and further strengthen its competitiveness among rated peers.

Fidelity Bank raised NGN227.0 billion in additional equity capital in 2025, enabling it to fully comply with the revised capital requirement for its licence category. The capital was officially recognised as the core capital in 2026.

Consequently, the bank’s GCR core capital ratio increased substantially to 29.4 per cent at the end of March 2026, from 17.2 per cent in December 2025. Its stage three loan loss reserve coverage also remained strong at more than 100.0 per cent.

GCR expects the bank’s core capital ratio to remain above 20.0 per cent over the outlook period, supported by good earnings retention. The rating agency also noted that Fidelity Bank’s exposure to the oil and gas sector is diversified across the upstream, downstream and services segments. Foreign currency exposure is further moderated through natural hedging.

Fidelity Bank’s funding profile remains positive, underpinned by a large and stable deposit base. Customer deposits grew by 16.1 per cent as of December 2025 and by a further 7.1 per cent as of March 2026, reaching NGN7.4 trillion.

Customer deposits accounted for 89.5 per cent of the bank’s total funding base in March 2026. Approximately 90 per cent of these deposits were held in relatively inexpensive current and savings accounts, providing a strong foundation for sustainable funding.

READ ALSO: Fidelity Bank gets extension to publish H1 2026 audited results

The bank also maintained a robust liquidity position, supported by a substantial portfolio of liquid assets. Its liquid assets-to-customer deposits ratio stood at 56.9 per cent in March 2026, while liquid assets covered wholesale funding by 4.8 times.

The stable outlook reflects GCR’s expectation that Fidelity Bank will maintain a strong financial profile, with its core capital ratio remaining above 20.0 per cent, supported by stable funding, strong liquidity and resilient asset quality indicators.

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Business

FG Continues NEMSAS Rollout, Strengthens Emergency Care and Hospital Infrastructure in Bauchi

Published

10 hours ago

September 21, 2026

Preport

The Federal Government has continued the nationwide rollout of the National Emergency Medical Services and Ambulance System (NEMSAS) with the deployment of new ambulances to selected health facilities in Bauchi State, alongside the unveiling of a Compressed Natural Gas (CNG) facility at the Abubakar Tafawa Balewa University Teaching Hospital (ATBUTH).

The interventions, unveiled by the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, are part of the implementation of the Renewed Hope Agenda of President Bola Ahmed Tinubu, through the Nigeria Health Sector Renewal Investment Initiative (NHSRII), particularly Pillar 4, which focuses on improving the health security of the nation.

The NEMSAS ambulances will strengthen emergency referrals across selected facilities, including Toro General Hospital, Gamawa Hospital, Federal Medical Centre, Misau, ATBUTH and the Fistula Centre in Ningi. The Bauchi deployment builds on the Federal Government’s continuing rollout of NEMSAS across the country, following recent deployments in Plateau and Ogun States.

Speaking at the event, Prof. Pate said timely access to emergency care is essential to saving lives, particularly in communities where distance and inadequate referral capacity can delay life-saving care. He urged beneficiary institutions to ensure the ambulances are properly utilised, maintained and integrated into referral pathways.

The Minister also highlighted the Federal Government’s broader investments in Bauchi’s health system, including the ongoing expansion of ATBUTH, the Federal Medical Centre in Misau, the North-East Vesicovaginal Fistula Centre in Ningi and the revitalisation of more than 100 primary healthcare centres through federal-state collaboration. Earlier in 2026, the Federal Government deployed approximately ₦10 billion worth of medical equipment, medicines, ambulances and maternity kits to health facilities across the state.

At ATBUTH, the newly unveiled CNG facility, aimed at improving the efficiency and sustainability of energy use within the hospital, forms part of efforts to strengthen the infrastructure that supports hospital operations. The ongoing expansion of the teaching hospital is expected to increase capacity for tertiary and specialised services. The Federal Government is also investing in advanced diagnostics and cancer care to bring specialised services closer to citizens and reduce the need for patients to travel outside the state for essential care.

Prof. Pate said the investments demonstrate the administration’s focus on translating policy commitments into practical improvements in the health system. He added that the Federal Government would continue to work with the Bauchi State Government, health institutions and other stakeholders to ensure that investments in emergency care, infrastructure and specialised services translate into improved access and better health outcomes for the people of Bauchi State.

The Federal Ministry of Health and Social Welfare remains committed to its mandate to save lives, reduce both physical and financial pain, and produce health for all Nigerians.

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