Nigerians will face a 30-60 percent increase in the cost of calls, data, and other telecommunications services, according to Bosun Tijani, Minister of Communications and Digital Economy.
Tijani made the disclosure during an interview with Channels Television, explaining that the hike is necessary to sustain investment in the sector and support Nigeria’s economic growth.
“The telecommunications tariff increase should not be more than 30 to 60 percent,” Tijani said.
He emphasized the need for continuous investment in infrastructure and technology by operators to remain competitive in the face of inflation and evolving technology.
“The sector is about investment in infrastructure; the technologies are changing, so you have to keep investing in technology. Things like 3G will be decommissioned at some point because you have higher technology, so they have to keep investing in equipment. And we all know that there is inflation,” Tijani added.
The minister highlighted the significance of foreign investment in driving the sector, noting that foreign direct investment (FDI) in Nigeria’s telecom industry reached nearly $199 million in Q1 2024, surpassing the total inflow recorded in 2023.
“For us, as we are protecting them, we want to keep importing capital in the sector. We can’t get to a $1 trillion economy if mobile network operators are investing at a snail’s pace,” he stated.
This announcement follows Tijani’s recent confirmation that telecom service tariffs would increase, though not by 100 percent, as some had speculated.
