Nigerians are set to pay 30-60 percent more for telecommunications services, including calls and data, following a statement by the Minister of Communications and Digital Economy, Bosun Tijani. In an interview with Channels Television, Tijani explained that the tariff increase is necessary to fuel continued investment in the telecom sector, which plays a pivotal role in Nigeria’s economic growth.
He emphasized that the sector relies heavily on investments in advanced infrastructure to remain competitive, especially as technology evolves. “The sector is about investment in infrastructure; technologies are changing, so you have to keep investing in technology,” he said, referencing the eventual decommissioning of older technologies like 3G in favor of more advanced networks.
Tijani acknowledged the challenges posed by inflation but highlighted that the telecommunications industry has seen significant foreign investment, with nearly $199 million in foreign direct investment in the first quarter of 2024 alone—surpassing the entire 2023 inflow. This increased investment is crucial, as Nigeria aims for a $1 trillion economy, and telecom companies need to maintain a rapid pace of technological advancement.
Despite the hike, the minister assured Nigerians that the increase would not reach 100 percent, providing some relief amid rising costs in the sector.
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