Telecom
Telcos Make Case for Tariff Hike, Says Current Regime No Longer Sustainable
Stakeholders within the telecommunications sector, particularly Mobile Network Operators (MNOs), have highlighted challenges inhabiting and stunting the growth of the sector in Nigeria, with particular emphasizes on issues of unsustainable tariff regime, fibre optic cable cuts, as well as forex issues/inflationary environments.
L-R: Lead, Business Champions Program, Presidential Enabling Business Environment Council (PEBEC), Temiloluwa Oluokun; Chief Operations Officer, IHS Towers, Kazeem Oladepo; Managing Director & Chief Executive Officer, Airtel Nigeria, Carl Cruz; Chief Executive Officer, Financial Derivatives Company (FDC), Bismarck Rewane; Anchor, Arise News, Rolake Akinkugbe-Filani; Chief Executive Officer, MainOne, Funke Opeke; and Chief Executive Officer, Federal Competition and Consumer Protection Commission (FCCPC), Olatunji Bello; during the Telecoms Industry 2.0 Townhall event, on Tuesday, 13th August, 2024, at Four Points Hotel, Victoria Island, Lagos.
They disclosed this on Tuesday at the Telecoms Industry 2.0: The Next Investment Frontier in Nigeria, organised by Financial Derivatives Company (FDC) in Lagos.
Speaking at the event, Karl Toriola, chief executive officer (CEO) of MTN Nigeria, said the country’s telecommunications sector is “in a deep crisis” stressing that the industry is at the brink of losing its viability if nothing is done to review the current tariff regime.
He noted that despite the growth over the past two decades of liberalisation, the sector is now threatened by inflationary environments and unsustainable pricing regime.
Toriola said price increase has become imperative, noting that it is now an “absolute necessity”.
He stated that there is an urgent need to rescue the sector from collapse as it is “in an intensive care unit ICU”.
Highlighting why investors may not continue to invest in the industry, Toriola said that the fundamental goal of any investor is to get efficiency or profitable return on investment which he noted is now abysmally low and is threatening the survival of the industry.
According to him, “No investor is going to put in $1 and receive 60 cents as return on investment,” adding that without deliberate efforts to change the current tariff regime, the flow of new investment into the sector could dry up entirely.
He said the static pricing is no longer sustainable.
“There’s no way under the surface of the earth, in the kind of inflationary environment and forex devaluation that we’ve seen, that an industry can maintain the same prices for 11 years,” he said.
“The telecoms sector has faced escalating costs across boards — from the cost of capital to the soaring expenses of maintaining infrastructure like base stations and diesel generators.
“Without adjustments to pricing, the industry’s ability to function and attract investment is in jeopardy.”
Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON) speaking at the event re-echoed Toriola’s call for immediate upward review of the current tariff plan in order to save sector from further troubles.
He stressed that the current price regime is no longer sustainable due to the rising operational cost, occasioned by forex devaluation, and soaring expenses of maintaining infrastructure such as base stations and diesel generators.
Adebayo said the rising cost challenge is seriously threatening the survival of telecom businesses in Nigeria.
With the introduction of Travel Saga, a premium, fast-paced gaming experience that is currently live and accessible to customers on its network, Globacom has lifted the bar for mobile entertainment in the country.
Travel Saga is a story-driven, intricately connected role-playing game designed to provide the thrill, complexity, and competitive intensity of some of the most well-known action games in the world.
The game, which has been painstakingly optimized for mobile devices, redefines mobile gaming as a full-fledged digital battlefield by translating a console-grade experience onto data-enabled handsets.
Fundamentally, Travel Saga takes users on quick virtual journeys against recognizable international landscapes. In a dynamic, ever-evolving gaming environment, players are thrown into furious missions, fierce fights, and ever-expanding tales where talent, strategy, and endurance determine who rises through the ranks to become a true war hero.
In addition to the excitement of fighting, users are encouraged to go to various locations, take part in thrilling challenges, and participate in intense competition for in-app rewards like points and victory badges. With each encounter and accomplishment, the immersion increases with each level, maintaining momentum and excitement.
Flexible subscription plans with one-time or auto-renewal choices are available to subscribers for the service, which costs ₦100 per day and ₦250 per week. By dialing *70021#, customers can quickly subscribe and gain instant access to the action.
With Travel Saga, Glo reaffirms its dedication to innovation and high-end digital experiences, making top-notch gaming easily accessible to its customers. The game offers uninterrupted action, adventure, and competition, all smoothly supported by the Glo network.
SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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