MTN Nigeria, the largest telecom provider in Nigeria, announced that it is aiming for improved telecom services after the Nigerian Communications Commission approved a 50 percent pricing adjustment.
Advocates and subscribers have strongly opposed the rate hike, which is considered essential to revitalising a sector that accounts for 14 percent of the nation’s GDP.
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In a statement on Tuesday, the 77 million-subscriber corporation claimed that the pricing hike was required to maintain vital investments.
The accomplishment, according to MTN, is a major step towards guaranteeing the telecom industry’s long-term viability while empowering millions of individuals and businesses and advancing the nation’s economy as a whole.
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The Chief Executive Officer of MTN Nigeria, Karl Toriola, stated, “This tariff adjustment represents an important step towards addressing the impacts of the prevailing economic challenges on our business and industry.”
“It will enable us to maintain the critical investments required to deliver reliable, high-quality services to Nigerians. We remain committed to supporting Nigeria’s digital transformation agenda and driving inclusive growth for all stakeholders,” he added.
MTN’s CEO expresses gratitude
The CEO expressed gratitude to the NCC, industry associations, the Federal Government, and the Minister of Communications, Innovation, and Digital Economy for their support.
Citing the need to address the industry’s escalating operational costs, the NCC authorised the tariff adjustment for the telcos on Monday. The telcos had requested a 100 percent rise.
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The NCC said in a statement signed by Reuben Muoka, Director of Public Affairs, that the adjustment is the first tariff revision since 2013.
In contrast to the initial proposal by certain operators for an increase of over 100 per cent, the regulator limited the adjustment to a maximum of 50 percent.
In addition to attempting to strike a balance between the interests of customers and the industry’s sustainability, the NCC characterised the decision as a calibrated response to the mounting financial challenges faced by network providers.