On December 21, 2024, Elon Musk’s social media platform, X (formerly Twitter), announced a significant price increase for its Premium+ subscription in Nigeria.
The monthly fee jumped by 51 per cent, from N22,550 to N34,000. This change is one of the highest increases seen globally.
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Reasons for the price increase
X explained that the price hike is due to several new features added to the Premium+ service. Subscribers will now enjoy an ad-free browsing experience without interruptions.
They will also get priority support and access to new features like Radar and advanced Grok AI models. X stated, “Your Premium+ subscription fee contributes to this new, more equitable system where creator earnings are tied to the overall value they bring X, not impressions of ads.”
This shift is significant for Nigerian creators dependent on X’s monetisation program. While some users see the benefits of these new features, many are unhappy about the higher costs, especially given Nigeria’s economic challenges. For comparison, users in other countries like the U.S. and Canada saw smaller increases of 37.5 per cent and 45 per cent, respectively.
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User reactions and market impact
The price change has led to mixed feelings among Nigerian users. Some appreciate the added features and improvements, but others feel the new price is too high. The annual subscription for Premium+ now costs N354,000, which adds to the financial burden on subscribers.
As X continues to grow under Musk’s leadership, this price increase marks an essential step in its strategy to enhance user experience while supporting content creators.
The company’s focus on investing in innovative features shows its commitment to keeping subscribers engaged despite rising costs.