- Highly Paid CEO: Karl Toriola, CEO of MTN Nigeria, ranks among the top 10 highest-paid CEOs in Nigeria, according to NairaMetrics.
- Educational Background: Toriola holds a Bachelor’s degree in Electronic and Electrical Engineering from Obafemi Awolowo University and a Master’s degree in Communication Systems from the University of Wales, Swansea.
- Leadership Experience: Toriola has held various executive roles, including Chief Operations/Regional Officer at Vmobile Nigeria, Operations Consultant at MTN Irancell, and CEO of MTN Cameroon [1].
- Achievements: Under his leadership, MTN Cameroon became the leading telecom provider in the country, and he successfully negotiated several licenses and partnerships.
As the CEO of Nigeria’s largest telecommunications provider, Karl Toriola stands as one of the most recognizable business leaders in the country. With a strong educational background and impressive leadership experience, Toriola has earned his place among the top 10 highest-paid CEOs in Nigeria.
Born on March 16, 1972, in Ife, Osun State, Nigeria, Karl Olutokun Toriola spent his early years in Modakeke. He pursued a Bachelor’s degree in Electronic and Electrical Engineering at Obafemi Awolowo University, Ile-Ife, graduating in 1994. His academic journey continued at the University of Wales, Swansea, in the United Kingdom, where he obtained a Master’s degree in Communication Systems in 1996.
Toriola’s telecommunications career began in 1995 at Ericsson Switzerland, where he spent five years before moving to Ericsson Nigeria in 2000 as Support and Integration Manager for GSM. He played a crucial role in the mobile network rollout in Nigeria and later transitioned to Vmobile Nigeria (now Airtel Nigeria) as Chief Operations/Regional Officer.
In 2006, Toriola took on an international role with MTN Irancell in Tehran as an Operations Consultant, driving network rollout efforts. By October 2006, he returned to Nigeria as MTN’s Chief Technical Officer (CTO), where he oversaw Technology Strategy, Capital Projects, and Network Rollout. His leadership earned MTN the 2009 Best CTO and Best Network awards.
Toriola’s impressive track record led to further executive roles. In 2011, he briefly served as interim CEO of MTN Congo Brazzaville before being appointed CEO of MTN Cameroon. His tenure saw MTN Cameroon’s market share grow from 51% to 62%, making it the leading telecom provider in the country.
