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BREAKING: Nigeria’s Telecom Sector At Risk Of Collapse – MTN Raises Alarm
MTN Nigeria’s CEO, Karl Toriola, has warned that the country’s telecommunications sector is in a critical condition, describing it as being in an “intensive care unit” (ICU) and urgently needing intervention to prevent its collapse.
EKO HOT BLOG reports that Speaking at a hybrid telecom investment forum in Lagos on Tuesday, Toriola emphasized the severe challenges facing telecom operators and cautioned that without addressing these fundamental issues, the sector is at risk of a significant downturn.
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“The telecom sector is facing many challenges, and if urgent action is not taken, it will dry up. The truth is, investors will not come to invest in the sector if the fundamental issues are not addressed. The telecom sector is in ICU stage,” Toriola stated.
Supporting Toriola’s concerns, Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), added that the industry has become a victim of its own success, with the government increasingly treating it as a major revenue source.
Nigeria’s Telecom MTN
Adebayo also raised concerns about the sector’s sustainability, highlighting that banks owe telecom operators over ₦200 billion for services rendered, a debt that remains unresolved.
According to Adebayo, “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.
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“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 are owing our members for services rendered has not been settled up till now.”
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