The new international termination rate (ITR) for voice calls has been set at $0.045 by the Nigerian Communications Commission (NCC).
The commission stated in a statement on Monday that the new rate will take effect on January 1, 2022.
The Overseas Termination Rate (ITR) is the fee that international operators pay to local carriers to terminate calls in Nigeria.
The new ITR replaces the old one, which cost N24.40k, and the operators are paid in naira.
As a result of the new change, Nigerian mobile network providers will begin receiving income in US dollars from all international calls beginning next year.
“The $0.045 rate is the floor price for ITR services and shall take effect from January 1, 2022. The rate is to be paid in US Dollar to enable Nigerian operators to receive an increasing rate in Naira terms to accommodate devaluation,” the statement reads.
“No licensee shall charge and/or receive effective rate per minute below determined ITR floor rate.
“As such, payment discounts, volume discounts, and any other concession that has the effect of bringing the effective ITR lower than the rate determined shall be deemed a contravention of the new determination and will attract sanctions in line with the Nigerian Communications (Enforcement process, etc.) Regulations, 2019.”