MTN Nigeria to Inject N600bn into Economy

By Sodeinde Temidayo David

Telecommunications service provider, MTN Nigeria, said it intends to inject about N600 billion into the nation’s economy through investment in network infrastructure.

The company, which is Nigeria’s largest telco by market share, said it plans to make this investment in the next three years as it takes steps to promote its commitment to specifically expand its rural connectivity to reach areas that were underserved.

Chairman of MTN Nigeria Communications, Mr Ernest Ndukwe, speaking during the company’s 20th anniversary in Lagos on Sunday, stated that, “We are also committed to extending our rural infrastructure networks to areas underserved and served.”

“We plan to connect approximately 1000 rural communities to our network this year with an additional 2000 communities in 2022,” the MTN chairman said, noting that “MTN Nigeria will be investing over N600 billion in the next three years on national infrastructure networks.”

Mr Ndukwe also expressed optimism about what the future holds for Nigeria’s digital economy and looked forward to building it together with all stakeholders.

Also speaking at the event, Chief Executive Officer of the company, Mr Karl Toriola, assured that MTN will continue to do things that will promote the growth of the country’s economy, through partnerships and long term value business.

He 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.

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

“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,” Mr 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.