In a move that is set to further strain the finances of Nigerian citizens, Minister Bosun Tijani has announced a significant increase in the cost of calls and data services. According to the Minister, Nigerians can expect to pay between 30-60% more for these essential services, a hike that is likely to have far-reaching implications for individuals, businesses, and the economy as a whole. As the country continues to grapple with rising inflation and economic uncertainty, this latest development has sparked concerns about the impact on low-income households, small businesses, and the most vulnerable members of society.

The Minister of Communications and Digital Economy, Bosun Tijani, said Nigerians will have to pay 30-60 percent more for calls, data, and other services in the telecommunications sector.

Tijani disclosed this in a recent interview with Channels Television.

According to him, the telecommunications sector is entirely about investment to spur Nigeria’s economic growth.

The Minister of Communications and Digital Economy, Bosun Tijani, said Nigerians will have to pay 30-60 percent more for calls, data, and other services in the telecommunications sector.

Tijani disclosed this in a recent interview with Channels Television.

According to him, the telecommunications sector is entirely about investment to spur Nigeria’s economic growth.

He noted that investors in the sector continuously invest in equipment to remain relevant despite inflation.

“I think the telecommunications tariff increase should not be more than 30 to 60 percent.

“The sector is about investment in infrastructure; the technologies are changing, so you have to keep investing in technology. Things like 3G will be decommissioned at some point because you have higher technology, so they have to keep investing in equipment. And we all know that there is inflation. For us, as we are protecting them, we want to keep importing capital in the sector. The foreign direct investment in our sector in the first quarter of 2024, driven by telcos, was close to $199 million; this is bigger than the entire inflow in 2023. We can’t get to a $1 trillion economy if mobile network operators are investing at a snail’s pace,” he stated.

This comes days after he confirmed that Nigeria’s telecom services tariff will be increased; however, not 100 per cent but Nigerians can expect to pay between 30-60% more for these essential services, a hike that is likely to have far-reaching implications for individuals, businesses, and the economy as a whole. As the country continues to grapple with rising inflation and economic uncertainty, this latest development has sparked concerns about the impact on low-income households, small businesses, and the most vulnerable members of society.