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KEGOZ MARKET WATCH KEGOZ BULLETIN · 04 NOV 2026 ·UPDATE
  • PMS · Depot average₦1,318/L▲ ₦1.50
  • DIESEL (AGO) · Depot average₦1,800/L▼ ₦5
  • COOKING GAS (LPG) · Basket median (older quotes included)₦1,225/kgUnchanged
  • BRENT CRUDE · 3 Nov settlement$103.60/bbl▼ 1.1%
  • USD/NGN · NFEM closing rate · 3 Nov₦1,346/$1
  • USD/NGN · Parallel · 4 Nov bulletin₦1,378–1,395/$1
  • DANGOTE PMS · Depot · 3 Nov₦1,300/L
  • DANGOTE AGO · Gantry · 4 Nov bulletin₦1,840/L
  • DANGOTE LPG · 4 Nov panel₦1,050/kg
  • NNPC PMS · Pump · Reported 2 Nov₦1,355/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 062, 4 Nov 2026. Indicative prices; quote dates vary. PMS, AGO and LPG changes vs Issue 061. PMS basket now includes Ascon. Older LPG quotes may understate the current market. Verify with suppliers before trading. Not a live feed.

Expensive Smartphones Threaten Nigeria’s Drive to Connect 25 Million Rural Users – ipNX

The high cost of smartphones and other digital devices is undermining Nigeria’s efforts to bridge the digital divide and connect millions of underserved rural residents, telecommunications company ipNX has warned.

The company said expanding telecommunications infrastructure would not guarantee meaningful digital inclusion if low-income Nigerians could not afford the devices needed to access internet services and participate in the digital economy.

The Director, Strategic Business Initiatives at ipNX Nigeria, Dr Olusola Teniola, raised the concern during the second edition of the Rural Connectivity Summit 2.0 in Lagos, themed “Rural Inclusion at Scale: Connecting the Next 25 Million Users for Frontier Market Growth.”

Speaking during a panel session on building the infrastructure and technology ecosystem for rural connectivity, Teniola called for policies that would encourage indigenous manufacturers and technology innovators to produce affordable devices suited to local market conditions.

He argued that Nigeria must reduce its dependence on expensive imported smartphones while addressing device affordability alongside investments in network infrastructure.

Teniola also advocated long-term, single-digit, naira-denominated financing for indigenous telecommunications companies and infrastructure operators to support connectivity expansion in commercially underserved communities.

He said affordable financing would enable operators to extend last-mile infrastructure to remote areas that might otherwise remain unattractive to commercial investors.

Read Also: rivers-creatives-set-for-m-net-boost-as-multichoice-eyes-new-production-hub

The ipNX director further cautioned against relying solely on satellite technology to bridge rural connectivity gaps, stressing that satellite services should complement rather than replace terrestrial infrastructure.

He urged the government to introduce policies that would promote homegrown technology solutions, citing India’s progress in supporting indigenous innovation as an example Nigeria could emulate.

Also speaking, the President of the Association of Telecommunications Companies of Nigeria (ATCON), Tony Emoekpere, identified high energy and infrastructure maintenance costs as major obstacles to rural connectivity.

He said unreliable electricity, dependence on diesel, insecurity, and difficult access to remote communities continued to increase the cost of operating telecommunications infrastructure.

Emoekpere called for sustainable alternative energy solutions, including hybrid power systems, to improve the viability of rural network installations.

Similarly, the General Manager (Technical) of ICSL, Tinuade Oguntuyi, stressed the importance of digital literacy and community inclusion, noting that improved internet access must be accompanied by skills development to enable rural residents to benefit from digital services.

The summit highlighted the need for affordable devices, accessible financing, reliable electricity, supportive government policies and local technology development to achieve meaningful digital inclusion.

Stakeholders called for stronger collaboration among government agencies, regulators, telecommunications operators and technology companies as Nigeria pursues its target of connecting an additional 25 million users.

They maintained that expanding network infrastructure alone would not bridge the digital divide without making internet-enabled devices, services and digital skills affordable and accessible to rural communities.

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