Telecom Operators Explain 50% Price Hike

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Telecom companies in Nigeria have explained why they recently raised their service prices by 50%. According to the Association of Licensed Telecoms Operators of Nigeria (ALTON), the increase was necessary due to rising costs and to keep the industry running smoothly.

ALTON Chairman, Mr. Gbenga Adebayo, said the decision wasn’t taken lightly. He pointed out that telecom companies have been dealing with higher costs for things like diesel, energy, and inflation for over 12 years without raising their prices 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 telecom 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 telecom companies signed deals at older, lower rates but now have to pay for them at higher rates.

Smaller telecom 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 promised that operators remain committed to improving services and creating jobs, making the sector stronger and more beneficial for the country’s economy.