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Chief Executive Officer of MTN Nigeria, Karl Toriola, has said the Nigerian telecom sector is in an Intensive Care Unit, warning that it could collapse if urgent steps are not taken.
Toriola disclosed this on Tuesday while speaking virtually at a hybrid telecom investment forum organized by Financial Derivatives Company in Lagos, the Nation reports.
According to him, there’s an urgent need to rescue the sector from collapse.
Meanwhile, Airtel Nigeria CEO, Carl Cruz, had expressed optimism that the sector would continue to attract investment.
Cruz noted that telecom tariff hike was a necessity due to soaring operational costs.
Recall that barely a week ago, the Executive Vice Chairman of the Nigerian Communications Commission, NCC, Aminu Maida described reports of telecoms tariff hikes as false.
According to him, there have been no new tariff hikes for Mobile Network Operators, MNOs, or any increases in telecom services for consumers.
Meanwhile, Mobile Network Operators in Nigeria have continued to call for telecoms tariff hikes.