Karl Toriola, the Chief Executive Officer (CEO) of MTN Nigeria , has issued a warning, indicating that the telecommunications sector in the country is currently facing a significant crisis.
Speaking during a telecom investment forum organised by Financial Derivatives Company (FDC), the telecommunications companys CEO emphasised the substantial sustainability challenges that telecom operators in the country are confronting, despite the growth they have experienced since the liberalisation two decades ago.
He stated that the sector faces escalating costs and unsustainable pricing, making a price increase an absolute necessity.
"The telecoms sector has faced escalating costs across the board - from the cost of capital to the soaring expenses of maintaining infrastructure like base stations and diesel generators," Toriola said.
"Without pricing adjustments, the industry's ability to function and attract investment is in jeopardy."
