The Minister of Communications and Digital Economy, Bosun Tijani, has announced that Nigerians may face a 30 to 60 percent increase in the cost of calls, data, and other telecommunications services.

Tijani shared this during an interview with Channels Television, explaining that the hike is necessary to sustain growth in the sector and keep up with global technological advancements.

He emphasized that the telecommunications industry relies heavily on continuous investments to drive economic development.

With rising inflation and the rapid evolution of technology, operators must upgrade their infrastructure to remain competitive.

“The tariff increase shouldn’t exceed 30 to 60 percent,” Tijani explained. “This sector is built on investment.

Technologies like 3G will eventually be phased out, so telecom companies need to keep upgrading their equipment. Inflation is a challenge, and we must ensure they can attract the capital needed to grow.”

Tijani cited a significant jump in foreign investments. “In the first quarter of 2024, the telecommunications sector attracted nearly $199 million in foreign direct investment, primarily from telecom operators.

That’s already higher than the total inflow for 2023. If we want to build a $1 trillion economy, we need telecom operators investing at a faster pace,” he added.