Bola Ahmed Tinubu has reportedly directed the Federal Competition and Consumer Protection Commission (FCCPC) to dismantle what regulators describe as a long-standing monopoly held by South African technology firm Optasia in Nigeria’s airtime credit lending and data advance market.
The move, which could significantly reshape a sector estimated to be worth more than ₦3 trillion annually, is being presented as part of broader efforts to promote competition, strengthen local participation, and ensure that more economic value remains within Nigeria.
Bola Ahmed Tinubu Backs FCCPC Push for Greater Competition
According to reports, Bola Ahmed Tinubu approved the action after receiving a briefing from the FCCPC concerning the structure of the airtime credit and data lending market. Regulators reportedly argued that a single foreign-owned operator had maintained a dominant position in the sector for more than a decade, limiting competition and contributing to significant capital outflows from Nigeria.
The FCCPC’s position is that a more competitive market would encourage innovation, create opportunities for Nigerian technology and financial technology companies, and provide consumers with more options. The commission has also emphasized that its broader regulatory efforts are intended to promote transparency, accountability, and fair competition rather than eliminate airtime borrowing or data advance services.
Bola Ahmed Tinubu’s Decision Comes Amid Regulatory Changes
Bola Ahmed Tinubu’s reported intervention comes after months of regulatory developments affecting airtime and data lending services. Earlier this year, telecom operators including MTN temporarily suspended some airtime and data credit services while responding to FCCPC regulatory requirements under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations.
The regulatory environment has remained fluid, with the FCCPC later clarifying that it never banned airtime borrowing services and subsequently suspending enforcement of certain regulations following a court order. Meanwhile, several companies have received approval to participate in the airtime and data lending market, signaling a broader push toward opening the sector to additional operators.
Bola Ahmed Tinubu’s reported directive is likely to intensify discussions about competition policy, foreign investment, consumer protection, and local participation in Nigeria’s digital economy. If fully implemented, the move could mark one of the most significant changes in the airtime credit and data advance industry in years, with consumers, telecom operators, fintech companies, and regulators all watching closely to see how the market evolves in the months ahead.
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