MTN CEO warns of dire situation in Nigeria’s telecom sector
Karl Toriola, the Chief Executive Officer of MTN Nigeria, has said that the Nigerian telecom sector is currently in a critical state, likening it to being in an Intensive Care Unit (ICU).
Speaking at a hybrid telecom investment forum held virtually on Tuesday in Lagos, Toriola cautioned that the industry’s survival hinges on urgent interventions.
While highlighting the challenges facing telecom operators, he emphasised that without addressing the fundamental issues, the sector could face a severe downturn.
READ ALSO: MTN apologises to subscribers over network failure, explains cause
He said: “The telecom sector is facing a lot of challenges of which if urgent action is not taken, it will dry up. The truth is that investors are not going to come to invest in the sector if the fundamental issues are not addressed. The telecom sector is in the ICU stage.”
Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), corroborated Toriola’s concerns.
According to Adebayo, the telecom industry had become a victim of its own success, with the government increasingly viewing it as a primary revenue source.
He said: “Today, many people are complaining about the quality of service. One thing we need to realise is that quality of service is tied to government policies. There are 54 agencies of government that are always on our neck for one levy or the other.
“Unfortunately, telecom operators are now seen as a major source of government revenue. With this trend, the sustainability of the sector cannot be guaranteed. The issue of over ₦200 billion banks owing our members for services rendered has not been settled up till now.”
Meanwhile, Carl Cruz, Airtel Nigeria CEO, had expressed optimism that investment will continue to flow into the sector, adding that pricing increase is now an absolute necessity.
Proofreading and editing by Fa’izatu Aliyu Doma, Journalist at Neptune Prime.
Follow the Neptune Prime channel on Whatsapp;
https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
Follow the Neptune Prime channel on WhatsApp: https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
