The Minister of Finance and the coordinating Minister if the Economy, Wale Edun has said that 50% increase in telecom tariff is a start, stating that there will be a continuous review.
In an interview with Arise News correspondence at the World Economic Forum in Davos, the Minister said there is a need to reflect on the rising cost and inflation, which have also impacted on the businesses of the telcos.
He pointed out that the telcos don’t just increase tariffs, stressing that they are been regulated and that the high cost of living also needs to be reflected.
“I think 50% is just a start and its all about compromise, timing and sequencing of some of these changes necessary as they are”
Edun said that the telcos play very important role in the economy and are major contributors to the GDP of the country, adding that the Federal government want them to continue to render quality services.
The telcos had requested a 100% increase in tariff as a result of high operational cost in the country, but the National Communication Commission, NCC approved 50%.
