Nigerian telecoms regulator said on Friday it had received a letter from the association of mobile phone operators demanding for a certain percentage hike in tariff for services due to the high cost of operations.
Nigerian Communications Commission (NCC) said there could be justifiable reasons for the demand but that no tariff increase will be effected without a cost-based study to determine the appropriate cost for services.
Double-digit inflation has hit virtually every product in Nigeria with consumers feeling the pinch from higher prices while a weaker naira currency has added to the costs, for a country which depends on imports for basic goods.
Inflation quickened to 15.92% in March, rising for a second straight month as prices for food and non-food items rose.
The price of diesel, which is used to power generators by most businesses in Nigeria, has more than doubled in the past month while economic analysts say the impact of the Ukraine war on local prices could be felt in the coming weeks.
On Friday, Nigerian airlines said they will stop operations from Monday until further notice due to the high cost of jet fuel.
SOURCE: Reuters. (Reporting by Camillus Eboh; Writing by Chijioke Ohuocha; editing by Diane Craft and Marguerita Choy)