Karl Toriola, the Chief Executive Officer of MTN Nigeria, has clarified that the telecommunications firm is deeply embedded in Nigeria, asserting that it is a domestic entity rather than just an extension of its South African parent company. With over 11 million Nigerians holding indirect stakes through pension funds and more than 201,000 direct retail investors, Toriola emphasized that the company’s identity is firmly tied to its local stakeholders.
During an appearance on Arise News, Toriola addressed concerns regarding the company’s ownership, noting that the MTN Group has a diverse, global shareholding structure. He stressed that MTN Nigeria is locally managed, listed on the Nigerian Exchange, and staffed almost entirely by Nigerians, with only four expatriates currently on the payroll.
Addressing the controversial telecom tariff adjustments, Toriola explained that the move was essential for the industry’s survival rather than a drive for profit. He noted that the company struggled to cover basic monthly operating costs prior to the review. The improved financial standing has allowed MTN to boost its capital expenditure significantly, targeting N1 trillion in 2025 to bolster infrastructure and network reliability.
Toriola acknowledged ongoing issues with network quality, pointing to significant external challenges such as vandalism, insecurity, and the high cost of powering 18,000 sites with generators due to poor electricity access. He also urged customers to monitor smartphone settings, noting that high data usage is often caused by automatic background backups rather than unauthorized activity by the provider.
