The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has told Nigerians to expect periodic tariff renewals in the telecommunications sector.
Speaking from the ongoing 2025 World Economic Forum in Davos, Switzerland, Edun maintained that the tariff adjustment was essential for sustaining the sector amid rising operational costs and inflation.
Edun also urged telecommunication companies to enhance service delivery in line with the price increase.
“There has been inflation and rising costs, and that has to be reflected for the telcos. There has been a high cost of living that has to be reflected.
“I think the 50 per cent tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.
“We want telcos operating efficiently, terminating calls seamlessly, and delivering high-quality services. At the same time, we want them to foster innovation, create jobs, and contribute to GDP.
“The 50 per cent tariff is a situation that will be looked at on a forward-looking basis. As we go forward, there will continue to be reviews, consultations, and discussions in this area,” Edun said.
It would be recalled that the Nigerian Communications Commission approved telcos’ request to implement a 50 per cent tariff hike, believing that periodic reviews will ensure the tariff remains balanced and fair for both consumers and operators.
The move, however, sparked several reactions, including the Nigeria Labour Congress criticizing the Federal Government for approving the increase.
The NLC then urged Nigerians to prepare for a possible nationwide boycott of telecommunication services while describing the decision as “a clear assault” on Nigerian workers’ welfare.”
But Edun has reaffirmed the government’s commitment to fostering a thriving telecommunications sector that supports innovation, economic growth, and job creation. The Finance Minister said the goal of the government is to improve the economy and attract investments across sectors.