- Cap Set at 60%: Government limits tariff increase to protect consumers.
- Economic Growth Focus: Investments in telecom infrastructure prioritized.
The Federal Government has approved a tariff increase for calls and data services in Nigeria, capping the hike at no more than 60%. This decision, announced by the Minister of Communications and Digital Economy, Bosun Tijani, during an interview on Politics Today on Wednesday, aims to balance consumer protection with the need for sustainable investment in the telecommunications sector.
Tijani disclosed that while telecom companies had initially sought a 100% tariff increase to counter rising operational costs and inflation, the government opted for a more modest adjustment. “The telecommunications sector is critical for economic growth, and continuous investment in technology and infrastructure is non-negotiable,” he stated.
Highlighting the sector’s contributions, Tijani noted that foreign direct investment driven by telecom operators reached $199 million in the first quarter of 2024, surpassing the total inflow recorded in 2023. However, he emphasized the need to safeguard consumers while ensuring that mobile network operators remain competitive.
The Nigerian Communications Commission (NCC) is currently finalizing the details of the tariff adjustment, carefully assessing its impact on consumers and the industry’s sustainability. Tijani reiterated the government’s commitment to fostering a balanced telecom ecosystem, critical to achieving Nigeria’s economic aspirations.
