Telecommunications companies in Nigeria have proposed a 100% increase in their tariffs.
However, this is pending approval from the federal government.
The proposal has been submitted to the Nigerian Communications Commission (NCC) and is looking to address rising operational costs, including inflation and increased service delivery expenses.
This was revealed by the Chief Executive Officer, MTN Nigeria, Karl Toriola, during an interview on Arise TV on Thursday.
However, the CEO expressed that it remains uncertain whether the Nigerian Communications Commission—the telecom regulator, will approve the proposal.
According to Toriola, the proposed tariff hike is necessary for the sustainability of the industry, which has been facing significant financial pressures due to rising operational costs.
“We’ve put forward requests of approximately 100 per cent tariff increases to regulators. I doubt they’re going to approve that quantum of increases because they are very, very sensitive to the current economic situation in the country,” Toriola said.
Despite the challenges, Toriola expressed optimism that regulators would make the right decision, taking into account the realities of the sector.
