The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that tariffs in Nigeria’s telecommunications sector will be reviewed periodically to ensure sustainability and fairness for both consumers and operators.
Edun made the disclosure during an interview with Arise TV on Thursday at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland.
The statement comes in the wake of the Nigerian Communications Commission’s (NCC) approval of a 50 percent tariff hike for telecommunications services earlier in the week.
The NCC’s decision, which has triggered significant public backlash, including criticism from the Nigeria Labour Congress (NLC), aims to address rising operational costs faced by telecom operators .
However, the NLC condemned the move, describing it as a “clear assault” on the welfare of Nigerian workers.
The labour union has urged Nigerians to prepare for a possible nationwide boycott of telecommunication services.
Addressing the concerns, Edun emphasized that the tariff adjustment was necessary to sustain the telecom sector amidst inflation and escalating operational costs.
He added that the government was committed to ensuring that future reviews would be conducted through consultations and balanced decision-making.
“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 stated.
“I think the 50 percent tariff adjustment is a starting point. It’s about compromise, timing, and sequencing these necessary changes.”
The minister called on telecom companies to improve service delivery to justify the price adjustments.
He highlighted the need for operators to enhance efficiency, ensure seamless call terminations, and deliver high-quality services while fostering innovation, creating jobs, and contributing to Nigeria’s GDP.
Edun further reiterated the government’s commitment to fostering a thriving telecommunications sector that promotes economic growth and attracts investments.
“The goal of the government is to improve the economy and attract investments across sectors,” he said.
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