Telecommunication rates, which have remained unchanged since 2013, despite escalating costs, have been raised by 50% by the Nigerian Communications Commission (NCC).

Operators initially asked for a 100% increase, but the regulator opted for a lower 50% adjustment, citing ongoing reforms in the industry aimed at long-term sustainability. It thus responds to the increase in operational costs faced by telecommunications operators. The adjustment aims to make up for the shortfall while ensuring uninterrupted service delivery

The Nigerian economy came under significant inflationary pressures as a result of President Bola Tinubu's economic reforms in 2023, which included the devaluation of the naira and the removal of fuel subsidies. These changes initially boosted economic growth but led to large increases in costs across all sectors. The increase in tariffs comes in a context of economic difficulties, including the collapse of the naira and the surge in inflation

With over 224 million telecom subscribers as of December 2023, the decision has a significant impact on Nigerian households and businesses. MTN Nigeria , which has 87 million subscribers and a 38.79% market share, saw its shares jump