Nigerian Telecom Firms Plan to Double Prices

Nigerian telecommunications providers are lobbying their regulatory authority for the permission to raise pricing tariffs by 100%, citing difficult economic conditions and inflation rates approaching a 30-year high.

“We have submitted requests for nearly a 100% increase” to the regulator, stated Karl Toriola, CEO of MTN Nigeria Communications Plc, during an interview with Arise TV in Lagos.

“The industry cannot continue to sustain itself and provide the necessary quality of service under the existing framework,” he stressed.

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With annual inflation having surged to 34.6% in November and the considerable depreciation of the naira against the dollar, the sector is intensifying its push to gain approval for relaxing pricing regulations that have been in place for 11 years.

If the pricing challenge is resolved, Toriola is optimistic about 2025 for operators. He mentioned that MTN Group Ltd aims to boost voice and data revenue this year by extending coverage to rural areas and enhancing 5G broadband access.

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