The minister of finance and the coordinating minister of the economy, Wale Edun, has said the tariff in the telecommunications sector will be reviewed periodically.
Edun spoke to Arise TV on Thursday at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland.
On Monday, the Nigerian Communications Commission (NCC) granted approval to telcos to implement a 50 percent tariff hike.
The move sparked several reactions, including the Nigeria Labour Congress (NLC) criticising the federal government for approving the increase.
NLC asked Nigerians to prepare for a possible nationwide boycott of telecommunication services while describing the decision as a “clear assault” on Nigerian workers’ welfare.
However, according to the minister, the tariff adjustment was essential for sustaining the sector amid rising operational costs and inflation.
According to Edun, the periodical review will ensure the tariff remains balanced and fair for both consumers and operators.
Edun also urged telecommunication companies to enhance service delivery in line with the price increase.
“There has been inflation and rising costs and that has to be reflected for the telcos. There has been a high cost of living that has to be reflected,” Edun said.
“I think the 50 percent tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.
“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.
“The 50 percent tariff is a situation that will be looked at on a forward-looking basis. As we go forward there will continue to be review, consultations and discussions in this area.”
Edun also reaffirmed the government’s commitment to fostering a thriving telecommunications sector that supports innovation, economic growth, and job creation.
The finance minister said the goal of the government is to improve the economy and attract investments across sectors.
