MTN Nigeria to Strengthen Operations With $1.6b

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  • MTN Nigeria to Strengthen Operations With $1.6b

In a move to deepen its network and systems in Nigeria, MTN Group on Tuesday said it plans to invest additional $1.6 billion in Nigerian operations.

Mr Rob Shuter, President/CEO, MTN Group, disclosed this during a courtesy visit to the Minister of Communications and Digital Economy, Dr Isa Pantami in Abuja.

Mabisi Jonas, the Group Chairman, who was also part of the delegation of members of the MTN board said Nigerain investors’ stakes in MTN were growing.

He explained that his visit along with the company’s top executives was to show appreciation to President Buhari “because most of the issues we raised during your visit to South Africa have been addressed, and there is progress on the remaining ones.”

Mr Jonas added that the group would invest $1.6 billion from its operations in the country to strengthen its network and systems.

“We are fully aligned with the strategic agenda of government, and are committed to strengthening the digital economy of the country.”

Responding to the $1.6 billion investment plan, Pantami said “I am glad to hear that you have a budget of $1.6bn you plan to invest in Nigeria in the next three years.

“Please, try to get your priorities right. Look at the areas that are underserved and invest and the earlier you realised that, the better for you.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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