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MTN Nigeria plans to invest over N600 billion in infrastructure buildout over the next 36 months as part of plans to improve quality of service (QoS) across the country and boost broadband access. The operator particularly plans to be more visible in rural areas.
“We plan to connect approximately 1000 rural communities to our network this year with an additional 2000 communities in 2022,” said Chairman of MTN Nigeria, Dr. Ernest Ndukwe, at the weekend in Lagos during activities to mark the company’s 20th-anniversary in Nigeria.
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With more than 60 subscribers, MTN is the largest operator in Nigeria by revenue and subscriptions. In its released unaudited financial results for the period ended June 30, 2021, it announced a revenue N791.3 billion and profit after tax of N141.83 billion.
CEO, MTN Nigeria, Karl Toriola, said the operator will further deepen its local ownership as it plans to bring in more indigenous investors.
His words: “We will also be selling down 14 percent of MTN shares to over two million Nigerian retail investors.”
“We firmly believe that Nigeria’s digital journey is only just beginning and that the future is filled with promises,” Toriola added.
