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Starlink has previously adjusted its hardware pricing in Nigeria multiple times, but this marks the second increase in subscription fees.
In a communication to its Nigerian customers, the company attributed the price hike to "excessive inflation."
For existing customers, the new subscription rates will be implemented starting October 31, while new customers will see the increased prices take effect immediately. In a message sent on Tuesday morning, the company stated:
"Due to excessive levels of inflation, the Starlink monthly service price will increase from current rates to the following: Standard (Residential): N75,000; Mobile- Regional (Roam Unlimited): N167,000; Mobile – Global (Global Roam): N717,000.
As a current customer, your monthly service price will increase in one month, beginning October 31, 2024. For new customers, the price increase is effective immediately."
"If you choose not to continue your service, you may cancel at any time."
Starlink, which made its debut in Nigeria in January 2023, has generated significant interest among Nigerians despite its higher pricing compared to local Internet Service Providers (ISPs).
The widespread availability of its satellite service has attracted individuals in regions with inadequate internet connectivity to consider Starlink as an alternative.
Recent data from the Nigerian Communications Commission (NCC) indicates that Starlink has quickly risen to become one of the top ISPs in Nigeria based on customer count.
As of the fourth quarter of 2023, it ranked as the third-largest ISP, boasting 23,897 customers, surpassing many local providers that have been established for years and currently have fewer subscribers.
Although Starlink officially launched in Nigeria in January 2023, pre-orders for its equipment began in 2022.
Initially, the company priced its hardware at $600 and the subscription at $43, but these figures were later converted to naira upon its official entry into the market.
At that time, the costs were set at N268,584 for the hardware and N19,260 for the subscription, based on an official exchange rate of approximately N450 to $1.
Following the unification of the exchange rate, the prices for both hardware and subscriptions increased significantly, reaching N378,000 and N38,000, respectively, as the value of the Naira declined.
In a bid to capture a larger share of the Nigerian market, Starlink reduced its hardware prices by 21% between October and November of last year, bringing the cost down to N299,500.
However, this price was reverted to N378,000 on November 16.
In March of this year, Starlink raised its hardware price to N800,000, but this was subsequently reduced to N440,000, which remained until the most recent price adjustment.