Business
FG Settles for 30-60% telecom tariffs hike
He said: “The telecommunications sector contributes over 16 percent to our GDP, employs thousands of Nigerians, and is essential to the nation’s digital economy.
The federal government has proposed a 30-60% increase in telecom tariffs to sustain the critical telecommunications sector while ensuring affordability for Nigerians.
The Minister of Communications and Digital Economy, Dr. Bosun Tijani, who disclosed this in a public statement, said that the recommendations from independent consultants, including KPMG, had been received.
He rejected the demands by operators for a 100 per cent hike.Dr. Tijani explained that the government was considering a more moderate increase to strike a balance between affordability for consumers and the sustainability and continued growth of the sector.
He said: “The telecommunications sector contributes over 16 percent to our GDP, employs thousands of Nigerians, and is essential to the nation’s digital economy.
However, it is crucial to ensure that services remain accessible to consumers while maintaining the sector’s viability.
He said that the Nigerian Communications Commission, NCC, was overseeing the process, with recommendations based on data-driven analysis.
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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