Edun supports 50% telecom tariff hike, urges improve services
Minister of Finance and Coordinating Minister of the Economy, Wale Edun
Abdullateef Fowewe
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has endorsed the recently announced 50 per cent hike in telecommunications tariffs, urging telecom companies to enhance their service quality in line with the price increase.
The tariff adjustment, the first in over a decade, was announced by the Nigerian Communications Commission last Monday as part of efforts to revive the telecom sector.
The decision has sparked widespread debates and mixed reactions across the country.
Speaking on Thursday at the ongoing 2025 World Economic Forum in Davos, Switzerland, Edun described the hike as a necessary step to sustain the telecom industry amid rising inflation and operational costs.
He said, “Inflation has surged, and this must be reflected in the business operations of telecom companies. While their prices are regulated to prevent arbitrary increases, it’s important to acknowledge the rising cost of living. The 50 per cent tariff adjustment is just the beginning of a phased approach to necessary reforms.”
He further highlighted the challenges faced by telecom operators, including inflation, exchange rate volatility, and the significant investments required to meet growing consumer demand.
These factors, he said, have strained the sector, threatening its long-term viability and its role as a cornerstone of Nigeria’s digital economy.
“The telecom sector has been under immense financial pressure, yet it remains a critical contributor to the economy. Tariffs had remained unchanged for years, despite these challenges,” Edun added.
He further emphasised the importance of the sector to Nigeria’s economic growth and infrastructure development.
“This adjustment is expected to lead to tangible improvements in service quality, such as better call termination, fewer dropped calls, and overall enhanced user experience,” he added.
Edun assured Nigerians that the government is committed to ensuring the tariff increase benefits consumers.
He also stated that the adjustment would be reviewed periodically to maintain fairness for both operators and customers.
“We want telecom operators to run efficiently, deliver seamless services, foster innovation, create jobs, and contribute to GDP growth. This tariff adjustment is an essential step toward achieving these goals,” Edun summed up.
