Telecom costs surge by 50.92% in 2023 amid inflation, currency woes

Nigeria’s telecommunications industry faced a tough year in 2023, as operating costs for telecom companies skyrocketed by 50.92%, rising from ₦2.09 trillion in 2022 to ₦3.16 trillion. This sharp increase highlights the mounting challenges of operating in an economy grappling with inflation and currency depreciation. Yet, amid these financial pressures, the sector demonstrated remarkable resilience. [...]The post Telecom costs surge by 50.92% in 2023 amid inflation, currency woes appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

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