Nigeria's leading telecommunications provider, MTN, has implemented a 50% tariff increase on internet plans, effective immediately, following approval from the Nigerian Communications Commission (NCC) in January. The move has sparked widespread outrage among customers, who argue that prior notice about the implementation date should have been communicated.

The revised pricing structure sees the 1.8GB monthly plan now costing ₦1,500, replacing the previous 1.5GB plan that was priced at ₦1,000. The 20GB plan has increased to ₦7,500 from ₦5,500, while the 15GB plan now costs ₦6,500, up from ₦4,500. Larger data bundles have seen even steeper increases, with the 90-day 1.5TB plan jumping from ₦150,000 to ₦240,000, and the 600GB 90-day plan rising from ₦75,000 to ₦120,000.

Telecom operators in Nigeria, including MTN, Airtel, and 9Mobile, have long advocated for price adjustments to align with economic realities. Despite mounting operational costs driven by inflation, telecom operators have been unable to increase prices for over a decade. The approved tariff increase is expected to help mitigate the effects of macroeconomic challenges and support the company's financial stability.

MTN Nigeria's share price surged following last month's announcement of a looming telecom tariff hike, reflecting renewed investor confidence in the company's profitability after two years of sustained losses. The company has been working to accelerate its earnings and recover from these losses.

The data tariff hike has sparked concerns and outrage among customers, who are already struggling with rising living costs in Nigeria. The move is seen as a further burden on consumers, who are being forced to absorb the increased costs of doing business in the country.

In response to user concerns, MTN wrote: "Y'ello! Thanks for stopping by, We apologise for any inconvenience and delayed Response. A price increase has been implemented to enhance our services and serve you better, which is why you are seeing the updated amount." However, this response has done little to assuage customer concerns, with many taking to social media to express their dissatisfaction with the price hike.

The implications of this move are far-reaching, with many Nigerians relying on mobile data for their daily lives. The increased costs of data will likely have a ripple effect on the economy, with small businesses and entrepreneurs likely to be disproportionately affected.

In conclusion, the 50% data tariff hike implemented by MTN Nigeria is a significant development in the country's telecommunications sector. While the move may help the company's financial stability, it is likely to have a negative impact on consumers, who are already struggling with rising living costs. As the sector continues to evolve, it remains to be seen how this move will affect the broader economy and the telecommunications industry as a whole.