Nigeria’s Minister of Finance and Coordinating Minister of the Economy Wale Edun, has announced that the recent tariff hike in the telecommunications sector will be reviewed periodically to ensure a balance between the interests of consumers and operators. Edun made the remarks during an interview on Thursday at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland.
Earlier this week, the Nigerian Communications Commission (NCC) approved a 50 percent increase in tariffs for telecom services, a decision that sparked widespread backlash. The Nigeria Labour Congress (NLC) condemned the move, calling it an “assault” on the welfare of Nigerian workers and warning of a possible nationwide boycott of telecommunication services.
Despite the backlash, Edun defended the tariff adjustment, stating that it was necessary to ensure the sustainability of the telecommunications sector, which has been grappling with rising operational costs and inflation. He emphasized that the sector’s ability to adapt to economic challenges required periodic reviews of the tariff structure.
“The 50 percent tariff adjustment is just the starting point,” Edun explained. “It’s about compromise, timing, and sequencing necessary changes. As we move forward, we will continue to review, consult, and discuss these adjustments to keep them fair and balanced for all parties involved.”
Edun also urged telecom companies to enhance their service delivery in response to the price increase. He pointed out that the telecom industry, like many others, has been affected by inflation and the rising cost of living, which needs to be reflected in their pricing models.
“We want telcos to operate efficiently, provide seamless call termination, and offer high-quality services,” he said. “At the same time, we want them to foster innovation, create jobs, and contribute to the nation’s GDP.”
The finance minister reaffirmed the government’s commitment to creating an environment that encourages economic growth, innovation, and job creation, all while attracting investment in key sectors like telecommunications.
