Exchange Rates Force Nigerian Web Host Whogohost to Increase Prices
January 8, 2016
Unfavourable exchange rates between the Nigerian Naira and the United States Dollar have forced a Nigerian web host to increase its prices. Whogohost, which has headquarters in Ikeja, Nigeria, bills itself as the “no.1 web hosting company in Nigeria”. The company offers a range of hosting services including shared, reseller and Virtual Server hosting alongside WordPress and Joomla! hosting options and SSL certificates. The company also offers domain registration services, including domains with the ‘.ng’ suffix.
Whogohost’s price increases are set to be applied to a number of its services. The news was announced on the Nigerian company’s website blog on January 6th, 2016. The Naira has lost value against the dollar since the end of 2015 and at the time of going to press, 1 Nigerian Naira equalled only 0.0050 of a US dollar. Over the period the Naira lost 22% of its value against the dollar, meaning that Whogohost, who pays for a number of the services it uses to conduct business in US dollars, has continued to lose money through increased costs.
“I will like to inform you that this Saturday, we will be increasing the prices of some of our products, starting with gTLDs (such as .com, .org, .net, etc) and African ccTLDs (asides the Nigerian .ng domains),” explained an announcement from the company’s CEO, Mr. Toba O on the company’s website. “We will also be increasing the prices of our other products at scheduled dates and we will inform you of these dates on this page after each successful increase.” The announcement added, “I know you don’t like the idea of our prices increasing. We wish we could avoid doing this. I will like to assure you that our new prices will be a fair increase.”
Do you know of any other companies forced to increase costs? Let us know the details. Add your comments below.