We’re committed to expanding Broadband access, penetration in Nigeria: MTN Group President

*We are partnering with Nigeria and Nigerian consumers to drive faster and more inclusive growth through digital transformation, says Ralph Mupita, MTN Group President and Chief Executive Officer

Isola Moses │ConsumerConnect

In an effort at facilitating accelerated Broadband penetration in the country, MTN Nigeria says it plans to invest N640billion (US$1.5billion) over the next three years to expand broadband access across the continent’s most populous country.

ConsumerConnect gathered this development is in line with the Federal Government’s 2020-2025 National Broadband Plan, and in support of MTN Group’s strategy, Ambition 2025: Leading digital solutions for Africa’s progress.

Installation of Fibre Optic cables for Broadband Technology in Nigeria

Ralph Mupita, MTN Group President and Chief Executive Officer (CEO), stated this after a three-day visit to Abuja and Lagos, in which he met a number of key stakeholders in the country, report said.

Mupita stated: “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.”

In the course of the visit to Nigeria, the MTN Group President and his delegation, among other top functionaries, met with President Muhammadu Buhari; Vice-President Yemi Osinbajo; Dr. Isa Ali Pantami, Honourable Minister for Communications and Digital Economy; Prof. Umar Garba Danbatta, Executive Vice-Chairman and CEO of Nigerian Communications Commission (NCC); and Mr. Godwin Emefiele, Governor of Central Bank of Nigeria (CBN).

The MTN Group CEO, who was accompanied by MTN Group Chief Financial Officer Tsholo Molefe, MTN Nigeria Chairman Ernest Ndukwe, and MTN Nigeria CEO Karl Toriola, reiterated MTN’s support for Nigeria’s plans to secure 90 percent 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, The Nation report stated.

The delegation welcomed Nigeria’s plans to auction 500MHz of 5G spectrum: five blocks of 100MHz in the 3500MHz band, which Mupita said would facilitate accelerated Broadband access in the country.

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.

MTN Nigeria, in which MTN Group has a 78.8% stake, sought to have the largest retail shareholder base on the Nigerian Stock Exchange (NSE), where it has a market capitalisation of N3.4 trillion (US$8.2 billion).