MTN Nigeria has announced plans to invest approximately $625 million in 2025 to upgrade its network and expand service capacity nationwide, Chief Executive Officer Karl Toriola said on Thursday.
Toriola told journalists that despite harsh macroeconomic conditions in 2024, the company remains committed to enhancing customer experience. He explained that MTN tracks service quality daily through independent benchmarks such as crowdsourced speed tests and third-party reports, which show gradual improvements across states.
“In 2025, we are investing about $625 million in capital expenditure to improve quality of service,” Toriola said. “We outspent our competitor nine to one on capacity and quality, and over time, customers naturally migrate more of their spend to the better provider.”
The MTN boss acknowledged that Nigerians often use multiple SIM cards for redundancy but noted that “wallet share” tends to shift toward providers offering superior service.
Reflecting on last year’s challenges, Toriola revealed that the telecoms sector required heavy capital inflows just to remain afloat.
“In 2024, we were making a loss and were cash-flow negative. We had to borrow to keep the lights on as the naira moved from $1 = ₦450 to $1 = ₦1,600,” he explained.
He warned that without the ability to adjust tariffs in line with inflation and currency fluctuations, the industry risks collapse. “In developed markets, tariffs automatically adjust with inflation. Nigeria must adopt the same model if we want a resilient sector,” he added.
Toriola emphasised that stable policies, regulatory clarity, and improved access to foreign exchange are crucial for attracting the billions of dollars required to expand digital infrastructure. This includes investments in fibre rollout and data centres.
“Capital doesn’t care whether you are Nigerian or foreign — it goes where it gets the safest and best returns,” he stated.
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