MTN budgets $1.6bn for investment in Nigeria

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MTN budgets $1.6bn for investment in Nigeria

The Minister of Communications and Digital Economy, Dr Isa Pantami, has expressed delight as the Mobile Telephone Network (MTN) budgeted 1.6 billion dollars to invest in the Nigerian market within the next three years.

Pantami disclosed this in a statement signed by Mrs Phil Oshodin, Director Press and Public Relations, on Tuesday in Abuja, when MTN paid him a courtesy visit in the ministry ‘s headquarters.

He pointed out that Federal Government was committed to provide conducive and enabling environment for all Mobile telecommunications operating in the country to run their businesses without any hindrances in any part of the country.

He assured that the government was working on ensuring that telecommunications infrastructure were protected in the country.

The Minister said that President Muhammadu Buhari gave security agencies the go ahead to provide security to critical telecommunications infrastructure in different locations of the country.

“I am glad to hear that you have a budget of 1.6 billion you plan to invest in Nigeria in the next three years.

“Please, try to get your priorities right. Look at the areas that are underserved and invest.

“I am happy that you also appreciated our modest efforts in addressing most of the challenges being faced by mobile Telecommunications firms in Nigeria. I believe every County has its own peculiar challenge.

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“We have achieved a lot in addressing most of the challenges: issues of vandalism, Right of Way (RoW) and several others,” he stressed.

“We are working on strengthening the policy to ensure that telecommunications infrastructure are well protected in the Country,” he said.

He noted that MTN had the largest market in Nigeria.

He equally expressed concern at the untapped market and enjoined the telecommunications companies to exploit the market opportunities in the country legitimately.

He urged all telecommunications companies operating in Nigeria to improve the quality of services in order to satisfy their customers.

Earlier, Mr Rob Shuter, the MTN Group CEO, who spoke on behalf of the team, disclosed that MTN has budgeted 1.6 billion dollars to invest in Nigeria market for the next three years.

Shuter noted that Nigerian investors’ shares in MTN were growing rapidly and as such the company needed to invest more in the country.

Also on the team were the MTN Group Chairman, Mr Mabisi Jonas, who led the delegation, MTN Nigeria Chairman, Dr Ernest Ndukwe, Nigeria CEO, Ferdinand Moolman and Mr Anas Galadima, among others.