Tinubu approves Nigerian companies airtime loan market ABUJA, NIGERIA – A major shift may be underway in Nigeria’s telecommunications sector following reports that President Bola Ahmed Tinubu has approved nine indigenous companies to participate in the country’s airtime and data credit market, a sector allegedly dominated for over a decade by South African technology company Optasia.
The development has generated widespread reactions on social media, with many Nigerians describing it as a significant step toward economic inclusion, local job creation, and increased retention of revenue within the country.
According to claims circulating online, Optasia reportedly controlled a substantial portion of Nigeria’s airtime and data borrowing ecosystem for about 12 years. The reports further alleged that the company generated trillions of naira annually from the business while maintaining minimal local operational presence.
Although independent verification of the exact revenue figures remains unavailable, supporters of the policy argue that expanding participation to Nigerian-owned firms could boost local investment and strengthen the country’s digital economy.
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“For 12 years, a South African company called Optasia quietly controlled Nigeria’s entire airtime and data borrowing market, collecting over ₦3 trillion every year. No Nigerian staff. No local office. The money just left the country.”
The statement, shared by social media commentator Ozor Ndi Ozor, has sparked intense debate among Nigerians over foreign participation in strategic sectors of the economy.
The commentator further praised the reported decision, stating:
“This week, President Tinubu approved nine Nigerian companies to break that monopoly. The jobs stay. The taxes stay. The profit stays in Nigeria. Now Nigerians are taking their market back.”
Meanwhile, industry observers believe the entry of additional indigenous operators could encourage healthy competition, improve service delivery, and create opportunities for local technology entrepreneurs.
Furthermore, analysts note that greater local participation in financial technology and telecommunications services aligns with the federal government’s broader agenda of promoting domestic investment and reducing capital flight.
However, experts have also urged regulators to ensure that all operators, both local and foreign, compete on a level playing field. They argue that strong regulatory oversight remains essential to protect consumers and maintain service quality.
As discussions continue, many Nigerians are watching closely to see how the policy will affect airtime and data lending services across major telecommunications networks.
If fully implemented, the initiative could mark one of the most significant changes in Nigeria’s digital credit ecosystem in recent years, potentially reshaping a market that serves millions of subscribers nationwide.
For 12 years, a South African company called Optasia quietly controlled Nigeria’s entire airtime and data borrowing market, collecting over ₦3 trillion every year.
No Nigerian staff. No local office. The money just left the country.
This week, President Tinubu approved nine… pic.twitter.com/IgZztNnY7s
— Ozor Ndi Ozor (@OzorNdiOzor) June 7, 2026
Source: Social media reports and public commentary. Claims regarding market size, revenues, and government approvals have not been independently verified by SOJ WORLDWIDE.
Keyphrase: Tinubu approves Nigerian companies airtime loan market.
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