MTN Nigeria Shares Surge After Government Raises Telecom Tariffs by 50%
MTN Nigeria's stock surged 10% after the government raised telecom tariffs by 50% to address the naira’s depreciation.
MTN Nigeria’s stock saw a significant surge following the Nigerian government’s decision to increase telecommunications tariffs by 50%. Bloomberg has reported that the move is aimed at mitigating the economic impact of the naira’s depreciation and rising inflation.
According to Bloomberg’s report, at the close of trading in Lagos, MTN’s shares rose by the maximum allowable 10%, reaching 256.30 naira. In contrast, rival Airtel Africa’s stock remained stable, holding steady at 2,156.90 naira.
