The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced that telecommunications tariffs will undergo periodic reviews to reflect rising operational costs and inflation. Edun disclosed this during an interview with Arise TV at the 2025 World Economic Forum in Davos, Switzerland.
This statement follows the Nigerian Communications Commission’s (NCC) approval of a 50% tariff increase for telcos earlier this week, a move that has drawn significant criticism. The Nigeria Labour Congress (NLC) described the hike as an assault on workers’ welfare and called on Nigerians to prepare for a possible nationwide boycott of telecom services.
Defending the adjustment, Edun explained that it is necessary to sustain the telecom sector amid increasing costs. He emphasized the importance of balancing consumer interests with the need for operators to remain viable.
“There has been inflation and rising costs, which must be reflected for telcos. The 50% adjustment is just a starting point. Reviews and consultations will continue to ensure fairness for both consumers and operators,” he said.
Edun also urged telecom companies to improve service quality in line with the price hike, ensuring seamless call terminations and fostering innovation, job creation, and economic growth. He reiterated the government’s commitment to supporting a robust telecommunications sector that attracts investments and contributes to GDP growth.
The tariff increase is expected to spark further discussions between stakeholders as the government seeks to balance economic realities with consumer interests.