Toriola said that even though the proposal has been sent, it’s not clear if it will be approved because of the country’s current economic problems. He understood that the regulator is being careful, as raising prices could make things harder for Nigerian consumers who are already struggling with financial hardship.
“We’ve asked for a 100% increase in prices, but I’m not sure if it will be fully approved. The regulators are very aware of the financial challenges Nigerians are dealing with,” Toriola said.
This decision by MTN comes as there is more talk about possible price increases in Nigeria’s telecom industry. The proposal has also highlighted bigger problems in the sector, such as higher operating costs and whether the current prices can be maintained.
Gbenga Adebayo, the head of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), recently warned that the telecom industry might shut down if prices for services are not increased. He explained that telecom companies are struggling financially and need to charge more to stay in business.
At the same time, Nigerian phone and internet users are strongly against any plans to raise prices. They say it would make things harder for people who are already dealing with rising costs in other parts of their lives.
The NCC will likely discuss MTN’s plan in the next few weeks. They will need to consider the In the coming weeks, NCC will deliberate on the proposal of MTN as an articulation between all the challenges of operations and the obligation to protect the consumers. For now, the possibility of a significant tariff hike remains a contentious issue, and both the operators and subscribers await a decision on the matter.
