Nigerian telecommunications firms are lobbying their regulator for permission to double costs to climate harsh financial situations and inflation working close to a three-decade excessive.
“We’ve put ahead requests of roughly a 100% improve” to the regulator, Karl Toriola, CEO of MTN Nigeria Communications, instructed Lagos-based Come up TV.
“There’s no approach that the trade might proceed to maintain itself and supply the required high quality of service beneath the current construction,” he stated.
The trade has been stepping up efforts for permission to calm down pricing guidelines which were in place for 11 years, amid surging annual inflation that touched 34.6% in November, and the steep depreciation of the naira in opposition to the greenback.
Learn: Large administration adjustments at MTN Group
If the pricing situation is resolved, Toriola is optimistic 2025 might be a very good yr for operators. The unit of MTN Group plans to develop voice and knowledge income this yr by growing protection of rural areas in addition to 5G broadband penetration, he stated. — Emele Onu, (c) 2024 Bloomberg LP
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