Menu Close

MTN Nigeria price hikes stopped dead in their tracks

The Nigerian Communications Commission (NCC) regulator demanded that mobile phone operators roll back a 10% increase in prices that had been implemented to account for inflation. This is according to IOL.

In an email statement the NCC said the increase that had been agreed upon with the firms had been rejected by the board. Therefore, it read, “It is turned around.”

Since September, inflation in the West African country has accelerated to a 17-year high of 20.8%, increasing operational expenses for wireless service providers. Weakening currency and more than a 200% increase in the price of fuel have added to the cost strain, since diesel is needed to power towers around the country owing to the inadequate power supply.

In order to “keep a suitable enabling environment for the telecom operators,” the regulator claimed it had successfully blocked a planned 5% levy on communications services earlier this year.

The government’s first goal is “to safeguard the citizens,” and “anything that may create greater suffering at this critical moment will not be allowed,” as stated in the statement released by the administration.

As the country prepares for national elections in February of next year, rising expenses of living have emerged as a central concern. The People’s Democratic Party and the Labour Party, the two biggest opposition parties, have emerged as the frontrunners in three independent opinion surveys, making life difficult for the ruling party.

Related Posts