The Minister of Communications and Digital Economy, Bosun Tijani, has announced that Nigerians will see an increase of 30-60 percent in the cost of calls, data, and other services in the telecommunications sector.
In a recent interview with Channels Television, Tijani explained that the hike is necessary to support continued investment in the sector, which he described as essential for driving Nigeria’s economic growth. He pointed out that telecommunications companies are continuously investing in equipment and infrastructure to stay relevant, despite challenges such as inflation.
“The sector is about investment in infrastructure; the technologies are changing, so you have to keep investing in technology. For example, older technologies like 3G will eventually be phased out as more advanced technologies are introduced,” Tijani stated. “We all know that there is inflation, and to ensure the sector’s growth, we must keep importing capital. In the first quarter of 2024, foreign direct investment in our sector, driven by telecommunications companies, was nearly $199 million, surpassing the total inflow for 2023. If we are to reach a $1 trillion economy, mobile network operators must invest at a faster pace.”
The Minister’s remarks come just days after he confirmed that Nigeria’s telecom services tariff would be increased, although he clarified that the hike would not reach 100 percent.