Over the past few years, there has been a decline in the value of the naira, leading to a 115.25% increase in Starlink’s hardware costs, making the installation of the satellite internet service very expensive. The new rates are N590,000 (approximately $382.64) and N75,000 ($48.64) for the hardware and monthly subscription, respectively.
Since its inception in Nigeria in 2023, the cost of acquiring Starlink hardware has been on the rise, mainly attributed to the fall of the naira. Initially, it was sold at N274,098 ($583.19); the cost then inflated to N800,000, and later to N440,000 in 2024, with a monthly subscription fee of N38,000.
Among the 15 African countries offering Starlink services, Nigeria has become the third most expensive, after Benin Republic and Eswatini. In contrast, Rwanda offers the cheapest hardware at $337.42, while Malawi has the lowest monthly subscription at $36.81.
In an email sent to customers announcing the changes, Starlink informed them that high levels of inflation are responsible for the price increase. The company will enforce the new prices for new customers immediately and for existing subscribers by October 31, 2024.
Even with the cost increase, Starlink remains strategically competitive in Nigeria’s internet market, offering speeds of 50Mbps to 200Mbps. However, customers have voiced their dissatisfaction with the expected annual service cost of N900,000 ($583.68).