Nigerian telecommunications companies have proposed a staggering 100 per cent increase in tariffs, pending approval from the Nigerian Communications Commission (NCC).
According to Karl Toriola, Chief Executive Officer, MTN Nigeria on Thursday, the proposed tariff hike is imperative for the sustainability of the industry.
“We’ve put forward requests of approximately 100 per cent tariff increases to regulators. I doubt they’re going to approve that quantum of increases because they are very, very sensitive to the current economic situation in the country,” Toriola stated.
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The MTN Nigeria CEO emphasized the need for a delicate balance between consumer affordability and operators’ financial sustainability, highlighting the industry’s struggles with rising costs.
The proposed tariff hike comes as telecommunications companies face significant financial pressures, driven by factors such as inflation, exchange rate fluctuations, and the increasing price of key operational inputs like diesel, power generation, and raw materials.
The Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Engr. Gbenga Adebayo, described the telecom sector as “under siege,” citing soaring operational costs and stagnant tariffs.
