MTN Nigeria CEO Karl Toriola has said the telecommunications company is a Nigerian business, despite the widespread perception that it is solely South African-owned.
Speaking in an interview with Arise News, Toriola explained that although MTN Group was founded in South Africa, its ownership is now spread across investors from Africa, North America, Europe, the United Kingdom, the Middle East, and the Asia-Pacific region.
He noted that MTN Nigeria is incorporated in Nigeria, listed on the Nigerian Exchange, pays taxes and regulatory fees in the country, and is managed predominantly by Nigerians.
According to him, the company has more than 201,000 direct retail shareholders, while about 11 million Nigerians own MTN shares indirectly through pension funds.
Addressing the recent increase in telecom tariffs, Toriola said the adjustment was necessary to keep operators financially sustainable and enable continued investment in network infrastructure.
He attributed poor network quality to fibre cable cuts, vandalism, insecurity, unreliable electricity supply, and the growing demand for data and voice services across the country.
Responding to complaints about rapid data depletion, Toriola denied that MTN deliberately consumes customers’ data. He explained that background applications such as iCloud, WhatsApp, automatic updates, and cloud backups often use data without users noticing.
He reaffirmed MTN Nigeria’s commitment to improving service quality through continued investment in network expansion and infrastructure.
