Karl Toriola, the CEO of MTN Nigeria, has issued a stark warning about the dire state of the Nigerian telecommunications sector, describing it as being in an “intensive care unit” and “gasping for breath.” His remarks were made during a virtual address at a hybrid telecom investment forum organized by Financial Derivatives Company (FDC) on Tuesday in Lagos.
Toriola stressed the urgent need for intervention to prevent the sector from collapsing, signaling that without immediate action, the industry could face severe challenges that would impact both service providers and consumers. He highlighted the necessity for pricing adjustments, which he described as an “absolute necessity” to sustain the industry’s operations and ensure continued service delivery.
His comments contrasted sharply with the more optimistic outlook presented by Carl Cruz, the CEO of Airtel Nigeria, who expressed confidence that investment would continue to flow into the sector despite the challenges. Toriola, however, emphasized that without addressing the pressing issues, particularly the need for pricing revisions, the sector could face an imminent crisis.
As the situation unfolds, stakeholders and industry watchers will be keenly observing the government’s response and the steps taken by telecom companies to navigate the challenging landscape. Further details are expected to emerge as discussions within the industry continue.
