The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stated that tariffs in the telecommunications sector will be subject to periodic reviews.
This follows the Nigerian Communications Commission’s (NCC) approval on Monday, 20th January, for telecom operators to implement a 50 percent tariff increase. The move has prompted reactions from the Nigeria Labour Congress (NLC), which has called on Nigerians to prepare for a potential nationwide boycott of telecommunication services, describing the decision as a “clear assault” on the welfare of Nigerian workers.
Speaking on Thursday, 23rd January, at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland, Edun urged telecom companies to improve service delivery in line with the price hike.
He explained, “There has been inflation and rising costs, which must be reflected for the telecom operators. The high cost of living must also be taken into account.”
He continued, “I see the 50 percent tariff adjustment as a starting point. It’s a matter of compromise, timing, and carefully sequencing these necessary changes.”
“We want telecom operators to operate efficiently, ensuring seamless call terminations and delivering high-quality services. At the same time, we expect them to foster innovation, create jobs, and contribute to GDP.”
Edun further noted, “This 50 percent tariff is a measure that will be assessed on a forward-looking basis. Going forward, there will be ongoing reviews, consultations, and discussions in this area.”
