proposed telecom price review mechanism, blaming the increased cost of doing business and harsh economic realities for the price hike proposal. According to ALTON chairman Gbenga Adebayo, other sectors of Nigeria's economy, including insurance and power, have implemented different degrees of tariff increment in the last six years but there has been no increase in the telecoms sector.
However, telco prices have remained flat and even declined. Contrary to the price trends in other sectors, telcos have had to adjust for the macroeconomic headwinds caused by an increasing erosion of margins. Other highly regulated sectors, such as power and insurance, have implemented price increases over the last year. Insurance prices have risen 200 per cent with power raising prices by over 40 per cent,' he stated.