In an effort to cope with rising operational cost and tough business climate arising from inflation and currency devaluation, telecommunication companies (telecoms) are proposing a 100 per cent increase in tariffs to the Nigerian government.
The Chief Executive Officer of MTN Nigeria, Karl Toriola, disclosed this in a recent interview with Channels Television’s Sunrise Daily.
Toriola stated thus:
“We at MTN believe we need adjustment of about 100 per cent, I think the industry is pretty much aligned because we are all experiencing the same headwinds. Now, the government is very sensitive to squeezing consumers’ wallets with the pressures that have come from inflation and currency devaluation on consumers.
“So, I’m not sure they will give us 100 per cent, but I am optimistic they will give us something substantial and maybe progressively over the course of the year we can have smaller adjustments that will help us to get back to where we need to be.”
“What the tariff allows us to do is to continue to invest, continue to build capacity, build resilience, put in additional generators, authentic power supply system to give you authentic to give you stable and high-quality networks.