Internet connectivity provider Starlink has announced an increase in the cost of its hardware and subscription fees in Nigeria. This move follows the continuous depreciation of the naira.
Price Increase
Starlink has raised the price of its hardware from N440,000 to N590,000, a 74% increase driven by the ongoing depreciation of the naira against the dollar. Additionally, the monthly subscription fee for the Standard (Residential) package has almost doubled from N38,000 to N75,000. In an email sent to subscribers, Starlink attributed this increase to high levels of inflation.
Historical Price Changes
Since its official launch in Nigeria in January 2023, Starlink's pricing has seen several changes. Initially priced at $600 for hardware and $43 for subscription, the prices transitioned to the naira. By February 2024, the hardware price had risen to N378,000 and to N800,000 by March, as the naira depreciated further. In April, following some recovery of the naira to N1230.61 per dollar, the hardware price was slashed to N440,000.
Situation in South Africa and Neighboring Countries
Starlink is also expanding its presence in other African countries. Recently, the company secured an agreement with South African President Cyril Ramaphosa during a meeting at the United Nations General Assembly in New York, discussing potential investments. Additionally, Starlink has launched services in Zimbabwe and Botswana. Further launches are planned in neighboring countries such as Kenya, Mauritius, and Angola.
The price hikes for Starlink's hardware and subscription fees in Nigeria are driven by economic factors affecting the country. Meanwhile, the company continues its expansion across other African nations, navigating regulatory and economic challenges.
