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MTN Doubles Its Investment in Nigeria

Multinational telecoms company, MTN, has announced plans to double its capital spending in Nigeria in 2016.

MTN says it will spend 11.1 billion rand ($726.13 million) to upgrade its network in Nigeria, according to a presentation posted on its website. This is substantially higher than its spending of nearly 5 billion rand last year.

This follows the slashing of an hefty fine imposed on the firm by the Nigerian government from $5.2bn to $1.67bn. Both parties agreed that the fine would be paid over a duration of 3 years.

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MTN’s plan will see the roll out of 3G network population coverage from 67.23 percent to about 90 percent, the presentation said. The aggressive rollout of fibre to six Nigerian cities by the end of 2016 will enable the connections.

The company also said it expected higher revenues in Nigeria supported by reconnecting subscribers and the introduction of new services in May.

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Written by PH

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