What do you believe is the single most important factor driving up the cost of living in Nigeria?

They made the appeal during a panel session at the 30th Nigerian Economic Summit on Tuesday in Abuja, titled “Navigating Business Growth in a Volatile Environment.”

Speaking in his address, the CFO noted that the current situation had caused tariff increases in the petroleum and electricity industries and wondered why the same increases would not be permitted in the telecommunications industry.

He highlighted that telecom companies had not received regulatory approval to adjust their prices for over a decade, despite importing telecommunications equipment priced in foreign currency.

Kadri said, “For ten years now, telecommunication companies haven’t been permitted to increase prices, and this regulation is not providing us with a level playing field to operate. If we are to stay in business, this policy must be reviewed, similar to how electricity and fuel prices are adjusted to reflect current economic realities.

“Our business is mainly dependent on foreign exchange, so customers need to understand that for them to receive the services they desire, it costs money.

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