MTN announces investment of 1,6 billion US dollars in Nigeria
MTN Group plans to invest 1,6 billion US dollars over the next three years in its network and operations in Nigeria.
The company’s board member, Mcebisi Jonas, made the announcement during a recent visit with Muhammadu Buhari, Nigeria’s President.
Jonas said, “We are fully aligned with the government’s policy agenda, and committed to improving the country’s digital economy.”
Buhari shared the Nigerian Government’s commitment to ensuring that companies like MTN thrive in the country in creating an enabling environment.
“I am delighted to hear about the progress you are making in Nigeria, especially in supporting our digital inclusion programmes. Your proposed initiatives, such as the rural telephony project, will certainly complement our economic diversification and financial inclusion programs by linking rural producers with consumers in our major cities,” he said.
Nigeria’s President also revealed ongoing plans by the government to improve security of telecoms installations, regarded as critical national infrastructure.
“Our hope is for operators like MTN to continue to focus on delivering quality service at reasonable prices. If we put our minds together, such win-win positions are achievable,” Buhari added.
MTN Group and the Nigerian government are striving to mend relationships that have been strained of late because of industry-record fines, sanctions and threats.
“MTN remains fully committed to meeting our fiscal responsibilities and contributing to the social and economic development of Nigeria and all regions where we operate,” said MTN Group chief executive officer Rob Shuter.
Nigeria remains a key market for MTN Group. MTN Nigeria has been listed on the Nigerian Stock Exchange and has secured a super-agent license which clears the way for the launch of its Fintech business.
Despite complaints about a ‘challenging operating environment,’ according to its consolidated financial report for the nine months ended September 30th, 2019, MTN Nigeria’s profit grew by almost 30 per cent.