MTN Nigeria CEO laments Nigeria’s exchange rate volatility, as firm faces Starlink threat

As Elon Musk’s Starlink commences operation in Nigeria, the Chief Executive Officer of MTN Nigeria, Karl Toriola, said his firm is operating in a challenging business environment.

Ripples Nigeria had reported that Starlink had began operation in the country and also slashed the price of its hardware and subscription fee.

Addressing the business environment in Nigeria, especially in 2022, Toriola said the company faced foreign exchange volatility and availability – a situation that had spilled into 2023 according to Ripples Nigeria’s Naira Watch.