‘MTN Is a Nigerian Company, Not a South African Company’ — CEO Karl Toriola Declares

• MTN Nigeria CEO Karl Toriola has insisted that “MTN Nigeria is a Nigerian company through and through,” saying over 11 million Nigerians indirectly own shares in the telecom giant….

Chief Executive Officer of MTN Nigeria, Karl Toriola, has insisted that “MTN Nigeria is a Nigerian company through and through,” dismissing the widespread perception that the telecom giant is solely a South African company.

Speaking during an interview on Arise News, Toriola explained that although MTN Group was founded in South Africa, its ownership is globally diversified, while MTN Nigeria is incorporated in Nigeria, listed on the Nigerian Exchange, pays taxes locally and is largely managed by Nigerians.

He said, “We are labelled as a South African company because MTN Group was founded in South Africa. But the reality is that MTN Group has a very diverse global shareholding.”

Highlighting the company’s Nigerian identity, Toriola disclosed that more than 201,000 retail investors directly own MTN Nigeria shares, while about 11 million Nigerians hold indirect stakes through their pension fund investments.

According to him, “MTN Nigeria is a Nigerian company through and through. We are domiciled in Nigeria. We are listed on the Nigerian Exchange. We pay all the taxes, duties and levies expected of us, and we are run by Nigerians.”

The MTN boss also defended the Federal Government’s approval of telecom tariff adjustments, insisting the increase was necessary to prevent the industry’s collapse.

He said, “People perceived the tariff increase as an aspiration for profitability, but the reality was that we were on our knees financially. We couldn’t even pay our month-to-month bills with the revenues we were generating. The tariff adjustment was an absolute necessity. It enabled us to stay alive.”

Toriola revealed that MTN increased its capital expenditure from about ₦250 billion in 2024 to approximately ₦1 trillion in 2025, with ₦390 billion already invested in the first quarter alone to improve network quality.

Addressing complaints about poor service, he attributed network challenges to fibre cuts, vandalism, insecurity and unreliable electricity supply, saying, “There are people who deliberately pour petrol into our manholes and set them on fire. A single incident can knock out services for millions of subscribers.”

He also dismissed claims that MTN deliberately consumes customers’ data, explaining that automatic background activities on smartphones are often responsible.

“There is a perception that MTN goes and takes customers’ data, but our studies have shown repeatedly that background applications are consuming much of that data,” he said, advising customers to perform automatic backups over Wi-Fi whenever possible.