The CEO, MTN Nigeria, Karl Toriola, has said the telecom sector in Nigeria is now in an intensive care unit (ICU) gasping for breath.
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Speaking virtually at a hybrid telecom investment forum organised by FDC on Tuesday in Lagos, he said there’s an urgent need to rescue the sector from collapse.
Toriola, who differed with the position of Airtel Nigeria CEO, Carl Cruz, who had expressed optimism that investment will continue to flow into the sector, said pricing increase has become imperative, adding that it is now an absolute necessity.
While highlighting the challenges facing telecom operators, he emphasized that without addressing the fundamental issues, the sector could face a severe downturn.
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 realize 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.
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