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Naira devaluation: Starlink increases hardware price by 112% in Nigeria

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Elon Musk’s internet service company, Starlink, has increased the price of its hardware by 112% in Nigeria.

The Starlink internet router which was being sold for N378,000 until recently now goes for N800,000. However, the monthly subscription for the internet service remains unchanged at N38,000 per month.

While Starlink has not offered any explanation for the increment, ThePressNG observed that this may have been influenced by the declining value of the Naira against the dollar.

The value of the Nigerian currency has been on a steady decline since the beginning of this year, falling from N907 to a dollar in December 2023 to N1,602 to a dollar as of March 7, 2024, at the official market.

Despite its higher costs compared with local ISPs, Starlink, which announced its presence in Nigeria in January 2023 had sparked high interest among Nigerians who were eager to change their service providers.

Although Starlink officially announced its presence in Nigeria in January last year, Nigerians had been pre-ordering its hardware since 2022. The company, which initially quoted its prices in dollars at $600 for the hardware and $43 for the subscription, changed to naira upon its official announcement.

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