MTN Nigeria To Finance N600 Billion in Network Infrastructure Across Nigeria

 MTN Nigeria Communications says it will finance more than N600bn in network infrastructure over the next three years to improve telecommunications services across the country especially Nigeria.

Dr Ernest Ndukwe, Chairman of MTN Nigeria Communications, revealed this during the company’s 20th-anniversary celebration held in Lagos.

Ndukwe said that MTN was committed to specifically expanding its rural connectivity to reach areas that were underserved” across the country.

He said “We plan to connect approximately 1000 rural communities to our network this year with an additional 2000 communities in 2022,”

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

Chief Executive Officer of the company, Karl Toriola, speaking at the event repeated 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.” Toriola said

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

He expressed gratitude to the government for its vision in liberalizing 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 Nigerian to do greater things,” the MTN chief executive said.

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.