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Netflix has raised its subscription prices in Nigeria by at least 40%, marking the second increase in three months. The new prices are as follows:
- Mobile Plan: ₦2,200 (previously ₦1,200), an 83% increase.
- Basic Plan: ₦3,500 (previously ₦2,900).
- Standard Plan: ₦5,000 (previously ₦4,000).
- Premium Plan: ₦7,000 (previously ₦5,800).
Netflix justified the price hikes by citing the addition of new TV shows, movies, and product features, as well as responding to local market changes, including inflation and taxes.
Despite Nigeria being a smaller market for Netflix compared to others, this adjustment aligns with similar global trends where Netflix has been revising its prices across various regions. This increase coincides with Nigeria’s economic challenges, including rising inflation and a cost of living crisis, which have also prompted other streaming services like Showmax to raise their fees.