The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, said telecommunications companies need to increase tariffs to improve the quality of their services and attract more investments. The economist, who was a guest on Arise TV on Saturday, highlighted the urgent need for fresh investments to upgrade infrastructure and improve services. Rewane’s comments support the telcos’ push for cost-reflective tariffs, which they said were necessary due to adverse economic headwinds threatening their financial viability. He cautioned that failure to take prompt action could result in multiple telecom operators being forced to cease operations, thereby depriving millions of Nigerians of essential communication services. Izuagbe stressed that the current tariff regime is inadequate to cover the costs of service provision and urged regulatory bodies to address the industry’s challenges and provide support to operators to maintain service quality.

Source: Punch May 07, 2024 14:11 UTC