The hyper-inflationary trend in Nigeria is set to be worsened as the National Communications Commission, NCC has issued a circular to telecommunication companies to step up data rates in the face of economic crisis.
South African telecommunication giant, MTN today, 28th of November, 2016 distributed text messages to notify subscribers of an imminent increment in data rates, according to a directive from the NCC.
The increment rate which is currently unknown will take effect from the 1st of December, 2016. This will be coming as bad news to a generality of Nigerian youths who dominate the Nigerian social media space with mobile phone data plans.
This disturbing report is also coming on the heels of a scathing economic recession which has forced the Central Bank of Nigeria for initiate a proposal of taxing phone conversations above three minutes. This is estimated to rake a N100 billion in a year for the national treasury.