Market News

BY  Adekunle Agbetiloye

• MTN implemented a price hike on internet plans following NCC approval of a 50% tariff increase.
• Telecom providers in Nigeria, including MTN, have long advocated for price adjustments to align with economic realities.
• The approved tariff increase is expected to help mitigate the effects of macroeconomic challenges and support the company’s financial stability.

Nigeria’s leading telecommunications provider, MTN, has implemented a price hike on internet plans following the Nigerian Communications Commission's (NCC) approval of a 50% tariff increase in January.

Addressing user concerns, MTN wrote: “Y'ello! Thanks for stopping by, We apologise for any inconvenience and delayed Response. A price increase has been implemented to enhance our services and serve you better, which is why you are seeing the updated amount."

Under the revised pricing, the 1.8GB monthly plan now costs N1,500, replacing the previous 1.5GB plan that was priced at N1,000. The 20GB plan has increased to N7,500 from N5,500, while the 15GB plan now costs N6,500, up from N4,500.

Larger data bundles have seen even steeper increases. The 90-day 1.5TB plan has jumped from N150,000 to N240,000, while the 600GB 90-day plan has risen from N75,000 to N120,000.

Telecom operators push for tariff hike

Major telecom providers in Nigeria, including MTN, Airtel, and 9Mobile, have long advocated for price adjustments to align with economic realities. Despite mounting operational costs driven by inflation, telecom operators have been unable to increase prices for over a decade.

Following last month’s announcement of a looming telecom tariff hike, MTN Nigeria’s share price surged, reflecting renewed investor confidence in the company’s profitability after two years of sustained losses.

MTN Nigeria has been working to accelerate its earnings and recover from these losses. The approved tariff increase is expected to help mitigate the effects of macroeconomic challenges and support the company’s financial stability.

Data tariff hike sparks outrage

The price hike has sparked concerns and outrage among customers, who argue that prior notice about the implementation date should have been communicated.