Telecommunication companies in Nigeria are proposing a 40 percent increase in the cost of phone calls, SMS and data, to the Nigerian Communications Commission, NCC, as a result of the rising cost of running businesses in the nation.
Source: Page36news.com
Based on their proposal, the price floor of calls will increase from N6.4 to N8.95, while the price cap of SMS will increase from N4 to N5.61.
This was revealed in a letter titled: ‘Impact of the Economic and Security Issues on the Telecommunications Sector’.
The letter was written by the telecommunications companies, under the aegis of the Association of Licensed Telecommunication Operators of Nigeria to the NCC.
In the letter, the telecom companies said that there has been a 40 percent increase in the cost of doing business in the country.
According to them, the telecommunication industry has been financially impacted, following the nation’s economic recession in 2020, and the effect of the ongoing Ukraine/Russia crisis.
They said that this has resulted in an increase in energy costs, increasing their operating expenses by 35 percent, adding that the introduction of the recent excise duty of 5 percent on telecom services, has further increased the burden of multiple taxes and levies on the industry.
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