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Regulator Nigerian Communications Commission (NCC) agreed to allow telecommunications providers to increase tariffs for the first time in 12 years.
The decision was “arrived at by taking into account ongoing industry reforms that will positively influence sustainability,” the NCC said in a statement Monday.
The “adjustments will support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity,” it said.
The 50% adjustment was half of what companies including MTN Nigeria Communications Plc, had asked for to weather harsh economic conditions, including a 41% depreciation in the naira against the dollar last year and inflation running near a three-decade high.
Earlier this month Karl Toriola, chief executive officer of MTN Nigeria, said “there’s no way that the industry could continue to sustain itself and provide the required quality of service under the present structure.”
If the pricing issue is resolved, Toriola said, it may be a good year for operators. The unit of MTN Group Ltd. plans to grow voice and data revenue this year by increasing coverage of rural areas as well as 5G broadband penetration, he said.
MTYN Nigeria stock is up 16.5% so far in 2025, outperforming the broad NGX All Share Index which is flat for the year.
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