NewStats: 3,263,871 , 8,181,683 topics. Date: Sunday, 08 June 2025 at 12:40 PM 5k603z

Chief Executive Officer, CEO of MTN, Mr Carl Toriola has warned that the latest attempt to reintroduce the 5% excise tax on telecom services will put the final nail on the activities of telecom operators in Nigeria, including MTN Nigeria.

The National Assembly recently proposed the introduction of a 5% excise duty on telecommunications, gaming, and betting services as part of a new effort to reform the nation’s tax system.

Although the proposal is included in the “Nigeria Tax Act,” former President, Mohammadu Buhari had exempted telecom from paying the tax. Buhari said it would exacerbate the suffering of Nigerians.

Subsequently, President Bola Tinubu, in an Executive Order, also suspended the tax immediately he assumed office.

However, the legislators said their current proposal is aimed at overhauling existing tax legislation and consolidating various tax frameworks across the country.

Something drastic can happen — Toriola, MTN boss

However, Toriola said that the legislators, who are pushing for the tax regime on telecom, are playing with fire, because the Act will be forcing the telcos to go the way of Nigeria’s former national carrier, NITEL.

He reiterated his earlier position that the telecom sector is currently in the Intensive Care Unit, ICU, and may die off at any moment.

He said the telcos existing at the moment are only spending their reserves which will run out sooner than later.

Toriola said this while responding to questions when Cohort 3 of the MTN Media Innovation Programme, MTN-MIP, Fellows paid him a courtesy visit in his office in Ikoyi.

“Make no mistake about it, there is no way you’ll treat a sector that is adding over 15 percent to the GDP the way the telecom sector is being treated in Nigeria.

“Some fundamentals have to change or something drastic will happen. MTN and the entire industry are in a dire situation.

“We are all making losses because of the naira devaluation. There should be no delusion. If the tariff doesn’t go up, we will shut down.

“Already, we are regressing the way of NITEL and it is a matter of time; the country could be without any telecom operator,” he said.

Toriola also used the opportunity to clear the air on the rumor that the banks have been gradually making payments to the telcos to deplete the huge Unstructured Supplementary Service Data, USSD, debt that has pitted both the telecom and banking sectors against each other for a couple of years now.

According to him, against the rumor that banks are making payments, the debt has even surged above N250 billion.

He, however, said that regulators of both sectors, the Nigerian Communications Commission, NCC, and the Central Bank of Nigeria, CBN, are constantly meeting to see a lasting solution.

He noted that it is only when the efforts of the regulators fail that the telcos will seek approval from the NCC to withdraw their services to the banks.

https://www.vanguardngr.com/2024/10/5-excise-tax-telcosll-soon-die-like-nitel-mtn-ceo-toriola/

You guys have stole enough you may shutdown I don't care😛

JAOS:
You guys have stole enough you may shutdown I don't care😛

do you know how many Nigerians will lose their jobs? Omo no use this brain cross Express abeg ooo.

You telcos are living a fake life like most Nigerians 🙂

fuckingAyaya:
do you know how many Nigerians will lose their jobs? Omo no use this brain cross Express abeg ooo.

Not really ..

We need many Nigerians in the farm and military 🙂

If Tinubu imposes 5% tax on telecoms they will be left with no choice than to hike their tariff, the poor masses will be at the receiving end. Be like say Tinubu sign MOU with devil to finish us before December.

Jokerman:


Not really ..

We need many Nigerians in the farm and military 🙂

to feed them with cassava,garri,ewa and ehnnnn... ?

fuckingAyaya:
to feed them with cassava,garri,ewa and ehnnnn... ?

Yes o.

Carbohydrates no dey kill

Nlfpmod, may God save Nigeria. We warned you, he is only a tax collector.

fuckingAyaya:
If Tinubu imposes 5% tax on telecoms they will be left with no choice than to hike their tariff, the poor masses will be at the receiving end. Be like say Tinubu sign MOU with devil to finish us before December.

Do you understand what they're talking about?

O ni agbara

COMRADES, Nigeria is in deep mess, only the wise knows this fact

This guy is an alarmist, is it the 5% that will make the telecommunications sector shut down?!

Liar

Impossible

Karl Toriola, such intelligent guy.

This country is on a nose dive.

Anyway, if you want to travel abroad but do not have the required bank balance to process your visa application, kindly check my profile.

This is just the first year
3 more portable years to come...

JAOS:
You guys have stole enough you may shutdown I don't care😛

You must be 15yrs or below

Tinubu will surely use his hands to do himself.

JAOS:
You guys have stole enough you may shutdown I don't care😛

The reasoning of a typical Yoruba.

So backward

Why do we have morons as political leaders in this country?

Result of rigging. Even Nairaland mods were rigging for this calamity to get power. I did not call name O!

Jokerman:


Not really ..

We need many Nigerians in the farm and military 🙂

So when there's no modern way of communicating then we all go back to letter writing I guess.
You people will keep telling us to go back to farm as if they dont farm in developed countries, we should learn to move everything at the same pace and not to jettison on against the others.

luvinhubby:
Why do we have morons as political leaders in this country?

Only political leaders?

What about those who chose to rig in favor of a man with a history of corruption over a man who has no history of looting public money?

Thieves can only steal. Only a fool expects development from a man with a history of looting.

I did not call name O!

JAOS:
You guys have stole enough you may shutdown I don't care😛

You need to swap this your head for your safety

Nawa oooo.... See as everybody dey groan because of Zaccheaus the tax collector

Kobicove:
This guy is an alarmist, is it the 5% that will make the telecommunications sector shut down?!

You obviously know nothing about business. That 5% is actually a lot of money. Don't forget that these companies are running diesel 24/7

ShogunNoName:


The reasoning of a typical Yoruba.

So backward

Tackle the person, not the tribe. There are many wonderful and amazing Yoruba people.

Oga nothing last forever if they park off like nitel new one go start up again.

TheGoodJoe:


Tackle the person, not the tribe. There are many wonderful and amazing Yoruba people.

God.
Bless