Telecommunications operators in Nigeria are considering raising the prices of voice calls, data, and other services. The Association of Licensed Telecommunications Operators of Nigeria (ALTON) recently revealed their intention during a visit to the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani.
ALTON has sought the Minister’s approval for a proposed telecom price review mechanism, citing the increased cost of doing business and harsh economic realities as reasons for the proposed price hike.
According to Gbenga Adebayo, the chairman of ALTON, other sectors of Nigeria’s economy, such as insurance and power, have implemented varying degrees of tariff increments in the last six years. However, the telecommunications sector has not seen any price increases.
“Consumer prices in other sectors have experienced a significant rise over the last six years to reflect macroeconomic realities. However, telecom prices have remained stagnant or even decreased. Telcos have had to make adjustments due to the macroeconomic challenges, which have eroded margins. Other regulated sectors, like power and insurance, have raised their prices by over 40% and 200% respectively,” Adebayo explained.
In response, the Minister of Communications pledged to examine the concerns raised by ALTON, emphasizing that the challenges are not insurmountable.
