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Inside MTN $1.5-Billion Investment For Nigeria’s Broadband Connectivity

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TechInAfrica – To develop broadband access throughout the African continent’s most crowded country, MTN Nigeria arranges to subsidize 640-billion naira (approximately US$1.5 billion) for the next three years. The plan is in line with the federal committee 2020-2025 National Broadband Plan. Also, it supports MTN Group’s Ambition 2025 strategy.

After a three-day visit to Abuja and Lagos, MTN Group President and CEO Ralph Mupita stated that Nigeria has become one of the main target markets of MTN. It was an honor for MTN to work together with Nigeria and Nigerians to increase and more encompassing growth through digital transformation. 

On his visits to those two areas, Mupita has met some of the key stakeholders. These included President Muhammadu Buhari; Vice President Oluyemi Oluleke Osinbajo; Minister of Communications and Digital Economy Dr. Isa Ali Pantami; Executive Vice Chairman Prof Umar Garba Danbatta; as well as Central Bank of Nigeria Governor Godwin Emefiele.

The MTN Group President – who was accompanied by MTN Group Chief Financial Officer Tsholo Molefe, MTN Nigeria Chairman Ernest Ndukwe, and MTN Nigeria CEO Karl Toriola – restated MTN’s support for Nigeria’s plans to secure 90% broadband population coverage by 2025.

The plan made by Nigeria for broadband is lined up with the belief of MTN in which it accepts that everyone has the right to experience the advantages of modern connected life and MTN’s effort to expand digital and financial inclusion across Africa.

The representatives accepted Nigeria’s plans to auction 500MHz of 5G spectrum: five blocks of 100MHz in the 3500MHz band, which Mupita said would facilitate accelerated broadband access.

According to Mupita, MTN Group’s arrangements to offer 14% of MTN Nigeria to domestic investors were well advanced. The selling process would take place immediately as the conditions were conducive. 

Furthermore, MTN Nigeria plans to create a new flagship headquarters in Lagos as the symbol of the 20th anniversary of MTN’s operations in Nigeria. 


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