In a rare move, Starlink, the satellite internet company owned by SpaceX, has reversed its decision to double its base subscription prices in Nigeria, just three weeks after the country's communication regulator blocked the increase.

The Nigerian Communications Commission (NCC) had intervened, stating that Starlink did not receive the necessary approval for the price hike, which contravened the country's pricing guidelines for internet service providers. The regulator had asked Starlink to reverse the price increase or risk sanctions.

The price hike, which was meant to take effect from October 31st, would have seen the standard residential plan with a 1 TB fair usage policy increase to ₦75,000 ($48) from ₦38,000 ($24). Roaming Starlink customers would have faced even steeper price hikes, with local roaming increasing to ₦167,000 per month, up from ₦49,000, and international roaming rising to ₦717,000 per month.

The reversal of the price hike is a significant development in the African tech ecosystem, where regulators are increasingly playing a crucial role in shaping the market. The move also highlights the importance of regulatory compliance for startups and tech companies operating in the region.

Starlink's decision to reverse the price hike is seen as a victory for Nigerian consumers, who would have been heavily impacted by the increased costs. The development is also expected to have a ripple effect on the broader tech industry, as companies operating in Africa take note of the regulator's stance on pricing and compliance.