Nigerian telecommunications companies said they proposed a 100 per cent tariff hike to the regulator, the NCC, across voice, data and digital and are awaiting approval.
The proposal, which has been submitted, aims to address rising operational costs, including inflation and increased service delivery expenses.
The disclosure was made by the Chief Executive Officer, MTN Nigeria, Karl Toriola, during an interview on Arise TV on Thursday.
However, the CEO said that it remains uncertain whether the Nigerian Communications Commission 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.
The CEO emphasised that the focus is on ensuring the long-term sustainability of the industry, rather than short-term profitability.
“I believe we’re all on the same side, the policymakers, the regulators, our Chairman of ALTON, Gbenga Adebayo, and the industry. We’re united because we share concerns about a few fundamental issues. First, human rights, are critical to driving any economy. Without a sustainable industry, the broader economy and the well-being of the people will be negatively impacted.”
