Karl Toriola, the Chief Executive Officer of MTN Nigeria, has voiced serious concerns about the Nigerian telecom sector, describing it as being in critical condition and warning that it could collapse if immediate action is not taken.
Speaking virtually on Tuesday at a hybrid telecom investment forum organized by Financial Derivatives Company in Lagos, Toriola emphasized the urgent need to prevent the sector from collapsing, as reported by the Nation.
In contrast, Carl Cruz, the CEO of Airtel Nigeria, expressed confidence that the telecom sector would continue to attract investment. Cruz pointed out that a hike in telecom tariffs is necessary due to the rising costs of operations.
This discussion comes shortly after the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, dismissed reports of telecom tariff hikes as false. Maida stated that there have been no recent increases in tariffs for Mobile Network Operators (MNOs) or telecom services for consumers.
Despite this, Mobile Network Operators in Nigeria have been consistently calling for an increase in telecom tariffs.
