High Cost of Mobile Phones, A Major Hindrance to Digital Inclusion in Nigeria – CEO MTN Nigeria
The Chief Executive Officer (CEO) of MTN Nigeria, Karl Toriola has disclosed that the high cost of mobile phones in Nigeria has posed a significant hindrance to financial inclusion in the country.
He made this disclosure during an exclusive interview with Arise TV while speaking on the topic “Tech into the future”.
Mr. Karl disclosed that while the global demand has led to a reduction in smartphone costs, Nigeria alone might not generate enough demand to bring the prices down as quickly as possible. He therefore suggested the establishment of local assembling companies, which he says would help to reduce production costs and eliminate customs duties, making smartphones more affordable.
Discussing financing solutions, he stressed the importance of aggregate credit scoring history for citizens to finance their mobile devices.
In his words,
“There’s quite a number of companies in Africa that are working on that in partnership with us, and while it may take a bit of time for that momentum to be built, our mobile money MoMo PSB will enable us, to predict behavioral patterns and credit worthiness.
“By working on these technologies, MTN aims to make smartphones accessible to a broader population, allowing people to pay for their devices responsibly over an extended period.“
He further added that MTN is actively working with Nigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, and regulatory authorities to address the issue of device affordability and promote digital inclusion in Nigeria.
