Elon Musk’s internet service company, Starlink, has announced a 45 per cent hardware price in Nigeria amid Naira appreciation.
The Starlink internet router, which was being sold for N800,000 as of April 9, now costs N440,000, according to a new price update released on Wednesday.
However, the monthly subscription for the internet service remains unchanged at N38,000 per month.
Until about a month, the hardware had been selling for N378,000. An increment implemented in early March, apparently due to the declining value of the Naira, saw the price jump to N800,000.
While the company did not state any reason for the price slash, the recent appreciation of the Naira against the US dollar and other foreign currencies may have influenced Starlink’s decision.
Recall that the Naira had continued four weeks of appreciation against the Dollar.
The development comes as the Naira appreciated to N1,230.61 per Dollar
before Eid-el-fitr public holidays at FMDQ market.
The firm announced its operation in Nigeria in January of last year.
According to the Internet Service Providers ISPs data released by the Nigerian Communications Commission, NCC, Starlink is now one of the leading ISPs in Nigeria in terms of customer numbers. As of Q3 2023, Starlink Nigeria’s customer base stood at 11,207.