Telecommunication companies are proposing a 40 per cent increase in the cost of calls, SMS, and data to the Nigerian Communications Commission as a result of the rising cost of running a business in the nation.

Based on their proposal, the price floor of calls will increase from 6.4 naira to 8.95 naira while the price cap of SMS will increase from 4 naira to 5.61 naira.

This was revealed in a letter written by the telecommunications companies under the aegis of the Association of Licensed Telecommunication Operators of Nigeria to the NCC.

According to them, the telecommunication industry has been financially impacted following the nation’s economic recession in 2020 and the effect of the ongoing Ukraine/Russia crisis.

They said this had resulted in an increase in energy costs, increasing their operating expenses by 35 per cent.