Starlink, a satellite internet service, says it will increase the monthly subscription prices for its services in Nigeria from January 27.

The company is owned by Elon Musk, the richest man in the world.

The company, in an email to users, said new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices,” Starlink said.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

Under the new pricing structure, the firm said the lowest subscription tier will increase significantly from N38,000 to N75,000 per month.

Starlink said the price of the mobile-regional roam unlimited is now N167,000 while the mobile-global roam service is N717,000.

Access Bank Plc says it has raised N351 billion through rights issue to boost its capital base above the regulatory threshold as it embarks on an expansion plan.

In a statement to Bloomberg on Wednesday, Access Bank said its share capital — at N600 billion — is now 20 percent above the minimum required for banks with an international licence.

Access Bank said the fresh capital inflow has received regulatory approvals from both the Central Bank of Nigeria (CBN) and the Securities Exchange Commission (SEC).

The publication added that the fundraising will help Access Bank to accelerate its expansion into new markets including Morocco, Egypt and the United States (US) and double the share of assets outside Nigeria by 2027.

The rights offer is part of Access Bank’s plan to raise $1.5 billion to help meet its recapitalisation target.

The Nigerian National Petroleum Company (NNPC) Limited has introduced the production monitoring command centre (PMCC) to boost production for hydrocarbon operations.

In a statement on Wednesday, Olufemi Soneye, NNPC’s spokesperson, said the initiative, driven by NNPC Upstream Investment Management Services (NUIMS), builds on the success of the command and control centre to foster monitoring, operational efficiency, and production.

The NNPC said the PMCC aligned with President Bola Tinubu’s policy to boost efficiency and bolster production in the industry.

“The PMCC serves as a unified platform for monitoring hydrocarbon molecules from production to export terminals, covering Joint Ventures (JVs) and Production Sharing Contracts (PSCs),” the national oil company said.

By consolidating real-time data from various operators, NNPC said the PMCC provides a comprehensive overview of production activities.

NNPC added that the centre ensures the timely identification of anomalies, minimises unplanned disruptions and supports smooth operational continuity.

“With advanced analytics and integrated data, the PMCC empowers stakeholders with actionable insights for proactive decision-making,” NNPC said.

“This capability enhances planning, resource allocation, and risk management, enabling operators to meet production targets efficiently and maintain high operational standards.

“A standout feature of the PMCC is its support for predictive and preventive maintenance. By monitoring equipment performance and coordinating maintenance activities, the system ensures the reliability and longevity of assets.”

According to the company, the PMCC promotes collaboration among stakeholders by offering a secure platform for data exchange and communication, fostering effective problem-solving, and continuous improvement across the sector.

NNPC said the PMCC’s role in minimising downtime and optimising maintenance directly contributes to increased production and revenue.

“Under Mele Kyari’s leadership, NNPC Ltd. has achieved a production increase to 1.8 million barrels per day (bpd) and is working towards a target of two million bpd,” the oil company said.

“The PMCC is integral to achieving this goal by driving efficiency and enhancing production capabilities.

“With direct communication links to the Industry-Wide Security Command and Control Centre, the PMCC also enhances the security of production operations.”

NNPC said the PMCC reflects its commitment to innovation and excellence in the oil and gas sector as the oil company continues its modernisation journey.