MTN Nigeria, is considering broadband spread in Nigeria within a budget outlay of about $1.5 billion.
The investment will take a period of three years in line with its commitment to drive more inclusive growth in Nigeria.
MTN said it is making the huge spend in support for the Nigerian Broadband Plan that targets 90 per cent broadband coverage nationwide by 2025.
The firm also applauded federal government’s policy to auction 500MHz of 5G spectrum. The spectrum, five blocks of 100MHz in the 3500MHz band, has been described by the company as a laudable step; one that would facilitate accelerated broadband access in the country.
Ralph Mupita, CEO & President, MTN Group, while commenting, said the development aligns with MTN Group’s belief that everyone deserves the benefits of a modern connected life; in line with its bid to extend digital and financial inclusion across Africa.
‘He added, “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,’’ .
Also, the Group is considering to sell 14 per cent of MTN Nigeria to Nigerian investors were well advanced as soon as conditions allow for the transactions.