MTN Nigeria has experienced a market capitalisation boost of N388.42 billion following news from the Nigerian Communications Commission about a potential increase in telecom tariffs after a decade of lobbying by telecom operators. The network giant’s shares surged from N175.50 to N194, reflecting a positive investor sentiment. However, Airtel Africa Plc saw no stock movement, despite being in a share buyback program. For more details, visit the original source.
Amidst mounting inflation and foreign exchange volatility, the telecom sector faces a challenging landscape, with combined FX losses of N1.29 trillion reported for 2023. Both MTN and Airtel have scaled back investments due to operational costs, impacting network quality for subscribers. Industry leaders urge a tariff increase, with discussions suggesting changes by January 2025. The looming crisis calls for urgent government action to support the sector’s sustainability and progress. How do you think tariff increases might affect consumer habits in Nigeria? Share your thoughts!
