Telecom Tariffs to Undergo Periodic Reviews, Says Finance Minister

Kehinde Fajobi

Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has announced that tariffs in the telecommunications sector will be periodically reviewed to balance rising costs with consumer fairness.

Edun shared this during an interview with Arise TV 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 tariff hike for telecommunication operators.

The decision has drawn criticism, with the Nigeria Labour Congress (NLC) labelling it a “clear assault” on workers’ welfare and urging Nigerians to prepare for a possible nationwide boycott of telecom services.

However, Edun defended the increase, describing it as a necessary adjustment to address inflation and rising operational costs in the industry.

“There has been inflation and rising costs, and that has to be reflected for the telcos,” he said.

“The 50 percent tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.”

Edun emphasised that the review would be ongoing and aimed at ensuring a fair balance between affordability for consumers and sustainability for operators.

He also called on telecom companies to enhance their services in line with the new pricing structure.

“We want telcos operating efficiently, terminating calls seamlessly, and delivering high-quality services. At the same time, we want them to foster innovation, create jobs, and contribute to GDP,” he added.

The minister also reiterated the federal government’s commitment to fostering a thriving telecommunications sector that supports innovation, economic growth, and job creation.

He stated that the administration’s broader goal is to strengthen the economy and attract investments across all sectors.