Telecom companies in Nigeria have clarified the reasons behind their recent 50% price hike. The Association of Licensed Telecoms Operators of Nigeria (ALTON) stated that the increase was essential to address rising costs and ensure the continued smooth operation of the industry.
Mr. Gbenga Adebayo, Chairman of ALTON, stated that the decision was not made hastily. He noted that for more than 12 years, telecommunication businesses have been coping with rising expenses for items like energy, diesel, and inflation without raising their pricing until now.
He explained that this price increase was approved by regulators after reviewing economic factors. It follows the rules set out in Nigeria’s Communications Act.
Adebayo reassured the public that the hike is not illegal and emphasized that it will allow telecommunication companies to improve their services, upgrade their networks, and attract more investment into the sector.
He also talked about the challenges caused by the unstable exchange rate. Many telecommunication companies signed deals at older, lower rates but now have to pay for them at higher rates.
Smaller telecommunication companies have been hit the hardest, especially those struggling with debt. Adebayo urged Nigerians to understand that rising costs are a global issue, not unique to telecoms.
He pledged that operators will not waver in their commitment to enhancing services and generating employment, strengthening the industry and increasing its economic benefits to the nation.
