MTN Nigeria Defends Tariff Hike, Plans N1 Trillion Investment

Karl Toriola, the Chief Executive Officer of MTN Nigeria, defended the company's recent tariff increase, asserting it was necessary to prevent insolvency within the telecommunications sector. During a stakeholder engagement event in Lagos, Toriola disclosed that MTN Nigeria plans to invest N1 trillion by 2026, with N900 billion earmarked for network expansion and maintenance by 2025.

He explained that the tariff increase was crucial for the company's financial viability, as operational costs, including diesel and software licenses, were straining resources. Toriola emphasized that without this adjustment, MTN could face technical insolvency and be unable to sustain its network operations.

He also noted that data prices in Nigeria remain among the lowest globally, despite the tariff review. The company currently serves 87 million subscribers and aims to improve transparency around data usage through new tools for customers.