Karl Toriola, CEO of MTN Nigeria, has sounded the alarm on the country’s telecommunications sector, describing it as “in a deep crisis.”
Gatekeepers News reports that Toriola, speaking at the telecom investment forum in Lagos, highlighted the severe sustainability challenges faced by telecom operators, citing rising costs and unsustainable pricing.
“The sector is in an intensive care unit,” Toriola said, emphasizing the need for a price increase as “an absolute necessity.” He warned that without apt changes, the flow of new investment into the sector could dry up entirely.
Toriola stressed that static pricing is no longer tenable, given the inflationary environment and forex devaluation. “There’s no way… that an industry can maintain prices the same for 11 years,” he said.
He acknowledged recent progress in discussions with regulatory authorities but emphasised that the challenges faced remain critical. Toriola urged swift and decisive action to prevent the collapse of the industry, saying “time is of the essence.”
