Since taking the helm as CEO of MTN Nigeria in 2021, Karl Toriola has rapidly transformed the telecommunications giant, propelling it to new heights of success and innovation. With a formidable background in electronic and electrical engineering, a Master’s in Communication Systems, and advanced management training from globally renowned institutions like Harvard and the London Business School, Toriola was well-prepared to steer MTN Nigeria through a complex and dynamic market.
Karl Toriola’s journey with MTN began in 2006, where he has held various critical roles, including Chief Technical Officer of MTN Nigeria and CEO of MTN Cameroon. His strategic leadership and operational expertise were further demonstrated when he served as the Vice President of the MTN Group’s West and Central Africa region, overseeing operations in 16 subsidiaries. These roles were a prelude to his current position as CEO, where his impact has been both profound and far-reaching.
One of Toriola’s most notable achievements is the successful rollout of MTN Nigeria’s 5G network, a first in the country, placing Nigeria among the few African nations with this advanced technology. This milestone underscores his vision of leveraging cutting-edge technology to drive economic growth and digital inclusion in Nigeria. In addition to this, Toriola has spearheaded the launch of MoMo Payment Service Bank (PSB), further solidifying MTN’s role as a key player in the financial services sector.
Under Toriola’s leadership, MTN Nigeria has also seen a significant cultural shift, fostering an environment where employees at all levels feel empowered to take ownership and drive results. This change has not only improved operational efficiency but has also enhanced customer satisfaction, with employees being more responsive and proactive in addressing customer needs.
Toriola’s leadership has also been characterised by a commitment to transparency and accountability. This was exemplified in October 2021, when MTN experienced a nationwide network outage. Toriola personally addressed the issue, offering a public apology and compensation to customers, a move that was widely appreciated and strengthened customer trust in the brand.
The numbers speak volumes about the success of Toriola’s leadership. Since his appointment, MTN Nigeria’s subscriber base has grown from 65 million to 74 million, with internet users increasing from 31 million to 37 million. These gains, coupled with a 20% growth in service revenue and a 28% increase in profit after tax by mid-2022, highlight the strong business acumen and strategic foresight that Toriola brings to the table.
