Telecommunications companies in Nigeria are pushing their regulator for permission to raise price tariffs by 100% due to difficult economic conditions and inflation that is nearing a 30-year high.
“We have submitted proposals for almost a 100% increase” to the regulator, said Karl Toriola, the CEO of MTN Nigeria Communications Plc, in an interview with Arise TV based in Lagos.
“The industry cannot continue to operate and provide the required quality of service under the existing conditions,” he asserted.
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The industry is intensifying its efforts to seek approval for relaxing pricing regulations that have been in place for 11 years, especially in light of annual inflation which hit 34.6% in November as well as a substantial devaluation of the naira against the dollar.
If the pricing issues are resolved, Toriola foresees a positive outlook for operators in 2025. He added that the MTN Group Ltd unit plans to boost voice and data revenues this year by expanding coverage in rural areas and enhancing access to 5G broadband.
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