MTN Nigeria, a telecommunications service provider, announced it plans to invest roughly US$1.4 billion in network infrastructure to boost the country’s economy. The company, which has the largest market share in Nigeria, said it aims to invest in the project mentioned above over the next three years as part of its efforts to promote its commitment to notably increase rural connectivity to underserved communities.
“The provider is committed to extending their rural infrastructure networks to places underserved and served,” MTN Nigeria Communications Chairman Ernest Ndukwe said during the company’s 20th-anniversary celebrations in Lagos. “By linking roughly 1000 rural communities to the network this year, with an additional 2000 communities in 2022,” MTN chairman stated, adding that “MTN Nigeria would invest over US$1.4 billion in national infrastructure networks over the next three years.”
Mr Ndukwe also voiced confidence about the future of Nigeria’s digital economy, saying that he looks forward to working with all stakeholders to build it. Mr Karl Toriola, MTN’s Chief Executive Officer, also spoke at the event, assuring that the company will continue to do things to help the country’s economy flourish through partnerships and long-term value business.
“MTN has started planning for a purpose-built, state-of-the-art head office in Lagos,” Mr Toriola said. “Where they will also be selling down 14 per cent of MTN shares to over two million Nigerian retail investors,” he added. He praised the government for its foresight in liberalising the telecoms sector and the regulators’ robust framework. He remarked, “We are convinced that Nigeria’s digital journey is just getting started and that the future is filled with many opportunities.