The Nigerian Minister of Finance, Wale Edun, announced that telecom tariffs will be reviewed periodically. This comes after the Nigerian Communications Commission (NCC) approved a 50% increase in telecom tariffs on January 20, 2025. The decision has sparked reactions, with the Nigeria Labour Congress (NLC) calling it an attack on workers’ welfare and threatening a nationwide telecom boycott.

Speaking at the 2025 World Economic Forum in Davos, Switzerland, on January 23, Edun explained that the tariff hike was necessary due to inflation and rising living costs. He emphasized that telecom companies should improve their services to match the price increase.

“The 50% tariff adjustment is a starting point,” Edun said. “We want telecom companies to deliver efficient services, ensure seamless calls, and maintain high-quality service. At the same time, they should foster innovation, create jobs, and contribute to the nation’s GDP.”

Edun also reassured that the tariff increase would be periodically reviewed, with continuous consultations to ensure it benefits both the telecom sector and the Nigerian economy.