Nigerians spent N3.2 trillion on airtime, data in 2021 – telecom firm

A telecommunications e-commerce company, Virgin Platform International Ltd, has said telecom subscribers in Nigeria spent at least N3.2 trillion purchasing airtime and data in 2021.

This is as the organisation launched a service application, My Wallet Shop, an automated virtual top-up (VTU) trading system for global use.

Speaking at the unveiling of the platform in Abuja weekend, the company’s Chief Executive Officer, Joshua Tarhule, ,said the new solution would allow end users to obtain a share of the commission from the N3.25 trillion spent on airtime and data annually in the country.

“In 2021, airtime and data consumption was N3.25 trillion minimum standard commission is three percent which will be around N97.5 billion. We are simply sharing the commission the telecom companies give us with our customers.

“The mobile app, which gives N1,200 instant cash bonus to new users who fund their wallets, will also enable customers to get two percent cash commission every time one pays for airtime or data, and one percent weekly commission if one owns an online VTU shop on the platform for the Auto trading system to sell on his behalf,” he said.

He the app will enable Nigerians to buy mobile phones on credit and own a VTU shop where they can trade and make money for themselves.

Tarhule noted that the app would serve people from different social strata of society, irrespective of the diversities of their needs once their virtual wallets are funded.

According to him, his experience in the banking and telecommunications sectors birthed the idea of making life easy for people through the application.

“We are launching the app because we are coming from a journey we started some years ago. It has been an amazing journey that was basically for selling recharge cards and subscriptions of paid TV. However, we now have a shop where people can buy mobile phones on credit and pay later from their commissions or personal fund as well as take out loans,” he stated.

According to him, the COVID-19 pandemic and the Central Bank of Nigeria’s cashless policy that started in 2007 had propelled start-ups in different sectors to channel their businesses online.

“Between 2019 and 2020, many people that were selling physical recharge cards ran out of jobs because of COVID. We, therefore, took our business online and many others are benefiting today.

“With the world moving online, global trends and insecurity separate from technology will compel you to go on the internet whether you like it or not.

“Referring other customers gives you benefits, as you earn 10 per cent referral commission on any of his transaction for life, that is, whenever he buys airtime, data or pay cable TV, including automatic weekly referral commission on his online shop commission if he has any.”