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AWS Now Accepts Naira Payments - Business - Nairaland

Nairaland ForumNairaland GeneralBusinessAWS Now Accepts Naira Payments (11567 Views)

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AWS Now Accepts Naira Payments by nlfpmod(mod): 2:05pm On Jan 15, 2025
Amazon Web Services (AWS), the global cloud leader powering many Nigerian startups and commercial banks, will now accept payments in Naira, alongside seven other local currencies for European customers. Since many Nigerian companies host their services in AWS’s European region due to geographical proximity, this move could significantly lower their cloud costs.

This move comes at a crucial time when homegrown cloud providers have been gaining ground by offering local pricing as an alternative to AWS and Azure.

In a statement on Monday, AWS explained that this shift will help customers avoid foreign exchange costs and payment friction. “With payments in their local currencies, customers can avoid foreign exchange costs associated with making foreign currency payments,” the company said. “This also removes payment friction for customers in countries where local regulations put limits on the foreign currency amount a customer can access.”

This shift is significant for Nigerian businesses, as the naira’s devaluation and macroeconomic pressures have caused cloud costs—often priced in US dollars—to more than double since 2023. By allowing payments in naira, AWS is offering Nigerian companies a smoother and more affordable option for cloud services, addressing one of the key pain points that have driven Nigerian businesses toward local cloud providers.

AWS’ move will shift the competitive landscape in Nigeria’s cloud services market. Homegrown cloud providers such as Nobus, Layer3, and Okra’s recently launched Nebula have spent much of 2024 positioning themselves as affordable, local alternatives to AWS and Microsoft’s Azure.

Many of these local players emphasized their competitive edge at a time when FX liquidity and volatility meant USD-denominated pricing could push costs up 2-3x in a week.

Some even held talks with government agencies at the state and federal level, positioning themselves as potential partners to reduce Nigeria’s reliance on USD-denominated services. The messaging was clear: patronizing local cloud providers is not just a cost-effective option but a way to support Nigeria’s economic resilience.

AWS’s decision to accept naira payments comes in response to the growing appeal of local cloud providers in Nigeria. In January 2023, AWS launched its AWS Local Zones facility in Lagos to reduce latency and improve performance for Nigerian businesses—often an important factor since many Nigerian companies host their services in AWS’s European region due to geographical proximity. By offering a new payment option alongside this infrastructure, AWS can solidify its foothold in the Nigerian market, especially as local providers continue to present an attractive, economically aligned alternative.

By lowering the barrier for Nigerian companies to pay for cloud services in their local currency, AWS has given itself an edge, but the growing local alternatives may still present a challenge. It’s not just about price anymore—it’s about local relevance and helping businesses navigate the complexities of Nigeria’s economic environment.
https://techcabal.com/2025/01/14/aws-accepts-naira-payments/#:~:text=By%20allowing%20payments%20in%20naira,in%20Nigeria's%20cloud%20services%20market.

Re: AWS Now Accepts Naira Payments by rottenPussy: 2:11pm On Jan 15, 2025
First to Comment, but I don't care - I'm depressed.

My girlfriend left me - yes, my kinky shoddy!!

cry cry
Re: AWS Now Accepts Naira Payments by fastseo: 2:11pm On Jan 15, 2025
Great news indeed
Re: AWS Now Accepts Naira Payments by givedemwotowoto: 2:12pm On Jan 15, 2025
Good. I like the fact that EyeNeck used them to store the 2023 election results. Someday forensics will hopefully get to the root of what the baalablu hell happened during the election.
Re: AWS Now Accepts Naira Payments by emmatex2020: 2:12pm On Jan 15, 2025
Welcome development for our local economy.
Re: AWS Now Accepts Naira Payments by okezuoemmanue(m): 2:13pm On Jan 15, 2025
cry
Re: AWS Now Accepts Naira Payments by lacasera14(m): 2:13pm On Jan 15, 2025
What about Amazon KDP?
Re: AWS Now Accepts Naira Payments by Dynamicboss: 2:13pm On Jan 15, 2025
Fantastic good news.

Shame on our financial institution in Nigeria. I won’t blame them, rather a useless regulatory requirement by CBN

Heading to Amazon web to buy valuable items
Re: AWS Now Accepts Naira Payments by Maxzyx: 2:14pm On Jan 15, 2025
It’s good news if it’s true
Re: AWS Now Accepts Naira Payments by frankmoney(m): 2:14pm On Jan 15, 2025
Good
Re: AWS Now Accepts Naira Payments by Ola9ja23: 2:14pm On Jan 15, 2025
Many positive news this year
Re: AWS Now Accepts Naira Payments by TechCapon(m): 2:14pm On Jan 15, 2025
Azure will join soon
Re: AWS Now Accepts Naira Payments by Christ4ever: 2:14pm On Jan 15, 2025
Woww... This is great!
Re: AWS Now Accepts Naira Payments by fnep2smooth(m): 2:14pm On Jan 15, 2025
Banga more cloud hosting companies will follow.
Re: AWS Now Accepts Naira Payments by Greencloud: 2:14pm On Jan 15, 2025
A result of Buhari's reckless policies.
Re: AWS Now Accepts Naira Payments by free2ryhme: 2:15pm On Jan 15, 2025
nlfpmod:
https://techcabal.com/2025/01/14/aws-accepts-naira-payments/#:~:text=By%20allowing%20payments%20in%20naira,in%20Nigeria's%20cloud%20services%20market.
Good

Even though naira to dollar is high
Re: AWS Now Accepts Naira Payments by fotadmowmend(m): 2:15pm On Jan 15, 2025
Idk
Re: AWS Now Accepts Naira Payments by free2ryhme: 2:16pm On Jan 15, 2025
nlfpmod:
https://techcabal.com/2025/01/14/aws-accepts-naira-payments/#:~:text=By%20allowing%20payments%20in%20naira,in%20Nigeria's%20cloud%20services%20market.
Re: AWS Now Accepts Naira Payments by toboizilla: 2:16pm On Jan 15, 2025
Nothing good about this news, let’s build our own database and not continue devaluing our naira
Re: AWS Now Accepts Naira Payments by Vizzim: 2:16pm On Jan 15, 2025
Finally
Re: AWS Now Accepts Naira Payments by temitope27(m): 2:17pm On Jan 15, 2025
rottenPussy:
First to Comment, but I don't care - I'm depressed.

My girlfriend left me - yes, my kinky shoddy!!

cry cry
you are mad, ayé è ti bàjé
Re: AWS Now Accepts Naira Payments by Nobody: 2:17pm On Jan 15, 2025
This is great news. Not great news for companies that were acting like middlemen sha
Re: AWS Now Accepts Naira Payments by davades(m): 2:17pm On Jan 15, 2025
I no kuku understand what this is for !
Re: AWS Now Accepts Naira Payments by lavylilly: 2:18pm On Jan 15, 2025
Good news.
Re: AWS Now Accepts Naira Payments by Helpfromabove1(m): 2:19pm On Jan 15, 2025
Good for those that needs it
Re: AWS Now Accepts Naira Payments by handsomeyinka(m): 2:19pm On Jan 15, 2025
davades:
I no kuku understand what this is for !
Sorry
Re: AWS Now Accepts Naira Payments by lavylilly: 2:19pm On Jan 15, 2025
fnep2smooth:
Banga more cloud hosting companies will follow.
Lol! Obviously.
Re: AWS Now Accepts Naira Payments by Femich18(m): 2:20pm On Jan 15, 2025
Awesome
Re: AWS Now Accepts Naira Payments by martineverest(m): 2:20pm On Jan 15, 2025
They are losing market shares to Microsoft
Re: AWS Now Accepts Naira Payments by lavylilly: 2:20pm On Jan 15, 2025
Yeah! Mic 🎤🎤🎤🎤🎤
If you are looking for a remote job in Nigeria,
Re: AWS Now Accepts Naira Payments by NOETHNICITY(m): 2:21pm On Jan 15, 2025
Another positive news
Re: AWS Now Accepts Naira Payments by YouAreNobody: 2:22pm On Jan 15, 2025
This is great news!
1 2 3 Reply

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