Telecom Sector In Nigeria On Life Support, Says MTN CEO

The telecom sector in Nigeria is on the brink of collapse, according to Karl Toriola, CEO of MTN Nigeria.

Speaking at a telecom investment forum organized by FDC in Lagos on Tuesday, Toriola painted a grim picture of the industry’s current state, likening it to a patient in an intensive care unit (ICU) “gasping for breath.”

Toriola’s comments contrasted with those of Carl Cruz, CEO of Airtel Nigeria, who expressed optimism about continued investment in the sector. However, Toriola emphasized the urgent need for rescue, citing the necessity of a pricing increase to sustain the industry.

“The sector is in a critical state and requires immediate attention to prevent collapse,” Toriola warned. “Pricing increase is no longer a suggestion, but an absolute necessity.”

The forum, held virtually, brought together industry stakeholders to discuss the challenges facing the telecom sector in Nigeria. Toriola’s remarks highlighted the pressing need for action to ensure the sector’s survival.