MTN Nigeria recently announced that it plans to invest 640 billion naira (~US$1.5 billion) over the next three years to expand broadband access across the continent’s most populous country.
MTN Group reiterated its support for Nigeria’s plans to secure 90% broadband population coverage by 2025. This aligns with MTN Group’s belief that everyone deserves the benefits of a modern connected life and our work to extend digital and financial inclusion across Africa.
MTN welcomes Nigeria’s plans to auction 500MHz of 5G spectrum: five blocks of 100MHz in the 3500MHz band, which would facilitate accelerated broadband access.
MTN Group’s plans to sell down 14% of MTN Nigeria to Nigerian investors were well advanced and this would happen as soon as conditions were conducive, said MTN Nigeria. MTN Nigeria, in which MTN Group has a 78,8% stake, sought to have the largest retail shareholder base on the Nigerian Stock Exchange, where it has a market capitalisation of 3.4 trillion naira (US$8.2 billion).
Ralph Mupita, CEO & President, MTN Group
Nigeria is one of our most important markets. We have a proud history of partnering with Nigeria and Nigerians to drive faster and more inclusive growth through digital transformation.
