Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, has said that tariffs in the telecommunications sector will be reviewed periodically.
Recall that the Nigerian Communications Commission, NCC, had on Monday, January 20, granted approval to telcos to implement a 50 percent tariff hike sparking reactions from the Nigeria Labour Congress, NLC, who asked Nigerians to prepare for a possible nationwide boycott of telecommunication services while describing the decision as a “clear assault” on Nigerian workers’ welfare.
Edun speaking on Thursday, January 23 at the ongoing 2025 World Economic Forum, WEF, in Davos, Switzerland urged telecommunication companies to enhance service delivery in line with the price increase.
He said: “There has been inflation and rising costs and that has to be reflected for the telcos. There has been a high cost of living that has to be reflected.
“I think the 50 percent tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.
“We want telcos operating efficiently, terminating calls seamlessly, and delivering high-quality services. At the same time, we want them to foster innovation, create jobs, and contribute to GDP.
“The 50 percent tariff is a situation that will be looked at on a forward-looking basis. As we go forward there will continue to be review, consultations and discussions in this area.”