MTN Makes N600Bn Investment Statement for Next 3 Years

MTN Nigeria Communications will invest more than N600 billion in network infrastructure over the next three years to improve telecommunications services across the country, according to Dr Ernest Ndukwe, chairman of the firm.

Dr Ernest Ndukwe, Chairman, MTN Nigeria

Ndukwe, disclosed this during the company’s 20th anniversary celebration held on Sunday in Lagos.

MTN Nigeria launched its services on August 8, 2001, connecting about 69 million people in communities across the country to date.

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

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

Ndukwe 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, Karl Toriola, chief executive officer of the company, 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 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 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.

As part of the 20th anniversary celebration, MTN gave out 20 new Honda HRVS as car gifts to its subscribers from year 2011 across the country.