Telecom companies in Nigeria might make services like calls and internet cost more because they’re facing money problems.
In 2023, MTN Nigeria lost a lot of money because the Nigerian currency became less valuable. Airtel also made less money, about 21.96% less, which is a big drop.
The Association of Licenced Telecom Operators of Nigeria (ALTON) said that even though the economy is tough, they haven’t increased prices for 11 years because of rules. But now, they think the rules don’t match the real money situation, and it could make it hard for them to stay in business.
ALTON wants the government to talk with them about how to set prices in a way that’s fair for customers but also helps the companies stay afloat financially.
The chairman of ALTON warned that if prices don’t go up, the telecom companies might not be able to survive because they have to pay a lot of taxes and deal with other money problems. They’ve tried to talk to the government about this, but they haven’t gotten much help.
Also, in 2023, MTN and Airtel lost a lot of money because people damaged their cables. So, the government is making new rules to protect telecom stuff and punish those who damage it.
Prices for things in Nigeria have been going up because of the bad economy. Recently, electricity and TV services like DStv and GOtv got more expensive too.