MTN Nigeria Chief Executive Officer Karl Toriola has defended the telecommunications operator’s Nigerian identity amid growing calls for retaliatory measures against South African businesses following renewed reports of xenophobic attacks on Nigerians in South Africa.
Speaking during separate interviews on TVC News and Arise News, Toriola rejected claims that MTN Nigeria should be treated as a foreign company, arguing that the operator is deeply embedded in Nigeria’s economy through its ownership structure, workforce and operations.
His comments come as some Nigerian political figures, including Senator Adams Oshiomhole, have urged the Federal Government to consider sanctions against South African businesses operating in Nigeria in response to attacks on Nigerian citizens in South Africa.
Toriola condemned xenophobia in all its forms but cautioned against measures that could negatively affect millions of Nigerians who rely on MTN’s network for communication, financial services and business activities.
According to the CEO, MTN Nigeria’s ownership extends far beyond its parent company. He said more than 11 million Nigerians have indirect investments in the company through pension funds, while over 200,000 retail investors also hold shares following the company’s listing on the Nigerian Exchange.
He also noted that MTN Nigeria is incorporated in Nigeria, listed on the Nigerian Exchange and pays taxes, regulatory fees and other statutory obligations within the country, making it a significant contributor to government revenue.
Addressing concerns about foreign control, Toriola said the company’s leadership and workforce are overwhelmingly Nigerian. He stated that, apart from one executive committee member, the executive leadership team comprises Nigerians, while only a handful of expatriates work across the organisation. More than 99% of MTN Nigeria’s permanent employees are Nigerians, he added.
“The label ‘South African’ is without any scientific substance,” Toriola said, arguing that describing MTN Nigeria solely by the nationality of its parent company ignores the company’s local ownership, governance and economic contribution.
Industry analysts note that any disruption to MTN Nigeria’s operations could have significant implications for Africa’s largest telecom market. As one of Nigeria’s largest mobile network operators, the company provides voice, data and digital financial services to tens of millions of subscribers while supporting thousands of direct and indirect jobs across the country’s digital economy.
The debate also underscores the delicate balance policymakers face between responding to diplomatic tensions and preserving investor confidence. Analysts have consistently warned that policy actions perceived as targeting legally established businesses could affect Nigeria’s investment climate, particularly as the country seeks greater foreign and domestic capital to support economic growth.
