MTN Says Nigeria’s Telecom Sector is Dying

The CEO of MTN Nigeria, Karl Toriola, has raised serious concerns about the country’s telecommunications sector, describing it as being in the “intensive care unit (ICU)” and “gasping for breath.” 

Speaking at a virtual telecom investment forum organized by FDC in Lagos on Tuesday, Toriola stressed the need for immediate action to save the sector from collapsing. He explained that the issues are not just technical but also financial, and without quick solutions, the entire industry could be at risk.

Toriola’s concerns sharply contrasted with the views of Airtel Nigeria’s CEO, Carl Cruz, who was more optimistic about the industry’s future. Cruz had expressed confidence that investment would continue to flow into the telecom sector, suggesting it still had room for growth. 

However, Toriola disagreed, arguing that without raising prices, the financial health of the industry could worsen, affecting both telecom operators and consumers.

The MTN CEO’s call for price increases may spark a debate among various stakeholders, including regulators, investors, and customers, who might worry about how it could impact the affordability of telecom services.

Despite these concerns, Toriola insisted that raising prices is not just an option but a necessity to keep the industry running and prevent further decline.