Nigerian Telecommunications companies have submitted a proposal to Nigerian Communication Commission, NCC, for a 100% increase in tariffs.
The proposed hike aims to address the rising operational costs faced by Telecom operators, including inflation and increased service delivery expenses.
According to Karl Toriola, Chief Executive Officer (CEO) MTN Nigeria, the industry is facing significant financial pressures due to escalating operational costs emphasizing for the sustainability of the industry, ensuring its long-term viability rather than short-term profitability.
Toriola acknowledged that the NCC may not approve the full 100% increase, considering the current economic situation in the country.
However, he expressed optimism that regulators would make an informed decision, taking into account the industry’s realities.
The proposal comes as telecom companies grapple with the rising costs driven by inflation, exchange rate fluctuations and increasing prices of operational inputs like diesel, power generation, and raw materials.
-9News Nigeria.
