The regulatory body overseeing telecommunications in Nigeria has recently approved a 50% increase in tariffs for telecom companies, marking the first such adjustment in over a decade. The decision to raise tariffs came as a response to economic challenges faced by the sector following currency devaluation and mounting losses.
Discussions between telecom executives and regulators began in October 2024, with the telcos initially requesting a 100% tariff increase for voice and data services. However, the Nigerian Communications Commission (NCC) opted for a more moderate approach to balance consumer protection and industry sustainability.
The NCC emphasized the need to support the telecom sector’s viability while considering the impact on consumers and the broader ecosystem of local vendors and suppliers. The approved increase, limited to a maximum of 50% of current tariffs, reflects ongoing industry reforms aimed at ensuring long-term sustainability.
*This is a developing story.