Satellite internet provider Starlink has announced a sharp increase in its monthly subscription fees, affecting both existing and new customers.

According to The PUNCH, the company disclosed the new pricing structure via a message sent to users on Tuesday. The standard residential plan will now cost ₦75,000, while the regional mobile (roam unlimited) package has been set at ₦167,000. For the global mobile (global roam) package, subscribers will now pay ₦717,000.

Starlink explained that the price hikes are a response to “excessive levels of inflation,” as the company adjusts its fees to reflect current economic conditions.

For new customers, the increased rates take effect immediately, while existing users will be transitioned to the new pricing starting October 31, 2024.

In a bid to ease concerns, Starlink assured customers that those who wish to discontinue the service can cancel at any time without penalties. This option may offer some relief for users facing financial strain due to the rising costs amid the ongoing economic challenges.