Calls by telecommunications operators in the country for a hike in tariff are receiving more support from critical stakeholders.
The latest backing comes from the Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane , who said a tariff hike was the only way to sustain telephony business growth in the country.
Rewane said the current tariff regime is inhibiting the operators’ capacity to invest more in infrastructure, hence the quality of their services has been deteriorating in recent times. He added that poor telecom services would not only affect the telecoms subscribers but the economy at large. “The Naira was exchanged at N157 to a dollar, it is N1,400 in the parallel market, a depreciation of 763 per cent. So, if you check cumulative inflation from 2013 to now, it is 387 per cent. The minimum wage then was N18, 000, today, the labour union is asking for N615, 000.”
The Governor of the Central Bank of Nigeria , Yemi Cardoso, has picked inadequate institutional capacity, knowledge gap and poor in-house expertise as major reasons responsible for the failure of projects in West Africa. Lafarge Africa Plc has assured that the firm would continue to invest in research and development as well as explore opportunities for operational optimisation, even as shareholders endorsed the company’s total dividend of N30.6 billion, culminating in N190 kobo per 50 kobo ordinary shares due to every investor of the firm for the 2023 financial year.
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