The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has revealed that telecom tariffs in Nigeria will be subject to periodic reviews to balance the rising operational costs with affordability for consumers. Edun made this statement during an interview with Arise TV at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland.
This announcement follows the Nigerian Communications Commission’s (NCC) recent approval of a 50% tariff increase for telecommunications services, a decision that has ignited widespread reactions. The Nigeria Labour Congress (NLC) strongly criticized the move, describing it as a “clear assault” on Nigerian workers’ welfare. The union has urged citizens to prepare for a potential nationwide boycott of telecom services in protest.
Tariff Adjustments: A Necessary Step
According to Edun, the tariff adjustment is essential for the sustainability of the telecommunications sector, given the rising inflation and operational costs. He emphasized that these reviews will ensure that tariffs remain fair and balanced for both consumers and telecom operators.
“There has been inflation and rising costs, and that has to be reflected for the telcos,” Edun explained. “This 50% tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.”
The minister noted that the government is committed to fostering an efficient telecommunications sector that not only provides high-quality services but also promotes innovation, creates jobs, and contributes to the country’s GDP.
Commitment to Service Quality
Edun also called on telecommunications companies to prioritize improving service quality in tandem with the new pricing adjustments. “We want telcos operating efficiently, terminating calls seamlessly, and delivering high-quality services,” he stated. “At the same time, we want them to foster innovation, create jobs, and contribute to economic growth.”
He assured that the government will engage in ongoing consultations and discussions with industry stakeholders to ensure that future tariff reviews are well-informed and beneficial to all parties involved.
Government’s Broader Economic Goals
Highlighting the government’s overarching objective, Edun stated that the tariff review aligns with efforts to improve Nigeria’s economy and attract investments across various sectors. “The goal is to create a thriving telecommunications sector that supports economic growth and enhances the welfare of Nigerians,” he said.
The minister reaffirmed that these changes are part of a broader strategy to address the challenges faced by telecom operators while ensuring that consumers are not overburdened by the costs.
Public Concerns and Industry Reactions
The NCC’s approval of the tariff hike has stirred significant public discourse, with many Nigerians expressing concerns over the impact on their disposable income, especially amid the current economic climate. The NLC’s call for a potential boycott signals the extent of dissatisfaction among workers and consumers alike.
However, Edun maintained that the periodic reviews will be conducted transparently, with input from stakeholders, to achieve a balanced approach that supports both economic and social goals.
As Nigerians adjust to these changes, the government’s focus remains on creating an environment where the telecommunications sector can thrive while ensuring affordability and access for the average citizen.
