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He mentioned that the hike will be within the range of 30 percent to 60 percent. “It shouldn’t exceed anywhere between 30 percent to 60 percent.”
If the upper limit of 60 percent is implemented, the average charge for phone calls will rise from N11 to N17.60 per minute, SMS fees will go up from N4 to N6.4, and the cost of a 1GB data bundle will increase from N287.5 to N460.
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Tijani pointed out that a 100 percent price increase would have detrimental effects on citizens who rely on telecom services. “This sector drives growth in our nation, and allowing MNOs to raise prices by 100 percent would be detrimental to our people,” Tijani emphasized.
This announcement comes after a decade-long push by telcos for tariff increases, as they have dealt with a tough operating environment that has exacerbated their operating costs by 300 percent over the years.
In December, Tijani acknowledged that the tariffs would need to rise to ensure the sustainability of the industry.
Nevertheless, he expressed optimism, stating, “We are hopeful and optimistic that the realities are evident, and the appropriate decision will be made for the industry’s sustainability.”