- He stated that rising expenses driven by naira devaluation are threatening the industry’s survival
MTN Nigeria’s CEO, Karl Toriola, has revealed that telecom operators are seeking regulatory approval for a 100% tariff increase on voice and data services, citing unsustainable operational costs.
In an interview on Thursday, Toriola stated that rising expenses driven by naira devaluation, soaring diesel prices, and increased costs of materials like batteries and fibre cables are threatening the industry’s survival.
“Our costs now exceed revenue, and the industry cannot sustain itself under the current structure,” he said.
While the Nigerian Communications Commission (NCC) has delayed approval due to economic hardships faced by consumers, Toriola remains optimistic about regulatory action. “We are hopeful the right decision will be made for the industry’s sustainability,” he added.
The Minister of Communication and Digital Economy, Bosun Tijani, has noted that tariff reviews are just one of the sector’s challenges.
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