Nigerians might soon have to pay more for phone calls and internet services as the four major telecom companies in the country – GLO, MTN, Airtel, and 9Mobile – are thinking about raising their prices.
Gbenga Adebayo, the chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), and Tony Emoekpere, President of the Association of Telecommunication Companies of Nigeria (ATCON), said in a joint statement that they are considering adjusting their prices to match the economic situation of the country.
They explained that it’s necessary to increase their prices since they haven’t done so in 11 years, unlike other industries.
The statement highlighted that building and maintaining telecom infrastructure costs a lot of money, including network expansion and technology upgrades. It pointed out that the telecom sector is the only one that hasn’t increased its prices in over a decade, mainly because of regulatory limits.
They emphasized that the current pricing rules don’t fit the economic reality and could hurt the industry’s future and lower investor confidence.
ALTON and ATCON are asking the government to help start talks with industry players to solve the pricing issues and create a plan that considers both the affordability for consumers and the financial needs of the operators.
Telecommunications is crucial for Nigeria’s national security and economic growth, especially as the country faces various security challenges. Damage to telecom equipment like cell towers and fibre optic cables not only disrupts services but also causes big financial losses for the companies.
If the government agrees to the price hike, this will add to the growing list of expenses for Nigerians during the ongoing economic crisis.
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