MTN Nigeria to Invest N600Bln in Network Infrastructure

Telecommunications giant, MTN Nigeria, says it will invest more than N600bn in network infrastructure over the next three years to improve telecommunications services across Nigeria.

Chairman, MTN Nigeria Communications, Dr Ernest Ndukwe, who spoke during the company’s 20th-anniversary celebration held on Sunday in Lagos, said the firm is also “committed to specifically expanding its rural connectivity to reach areas that were underserved” across the country.

Also speaking at the event, Chief Executive Officer of the company, Karl Toriola, restated MTN’s planned participation in the restoration and rehabilitation of the Onitsha-Enugu Expressway through the Federal Government’s Road Infrastructure Tax Credit (RITC) Scheme.

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“This is a response to government’s drive towards public-private partnership in the rehabilitation of critical road infrastructure in Nigeria,” Toriola said

“We’ve initiated plans for the construction of a purpose-built, state-of-the-art head office in Lagos.

“We will also be selling down 14 per cent of MTN shares to over two million Nigerian retail investors,” Toriola said.

He expressed appreciation to the government for its vision in liberalising the telecommunications sector and the robust framework developed by the regulators.

“We firmly believe that Nigeria’s digital journey is only just beginning and that the future is filled with promises.

“Working together, we can and will build the more prosperous and inclusive future we seek and empower even more Nigerians to do greater things,” the MTN chief executive said.

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MTN Nigeria currently provides services in 223 cities and towns, in more than 10,000 villages and communities, in the 36 states and the Federal Capital Territory.

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