… Plans N600b Investment over 3 Years To Support FG NBP
MTN Nigeria, in celebration of its 20th year of operation in Nigeria has earmarked to undertake the rehabilitation of the 100 kilometre the Enugu-Onitsha Expressway, South East Nigeria under the Federal Governments Road Infrastructure Tax Credit (RITC) Scheme.
According to a report issued by the mobile network operator, the road rehabilitation has been approved by the company’s Board of Directors.
The RITC Scheme is a federal government intervention initiative towards public-private partnerships geared towards the rehabilitation of critical road infrastructure in Nigeria. “We intend to participate in the restoration and refurbishment of the Enugu-Onitsha Expressway. Conversations in this regard have already commenced, and further announcements will be made in due course,” MTN said in the statement.
The telecom firm has also affirmed that it is in Nigeria for the long haul as it has also initiated plans to commission a purpose-built, state of the art MTN Head Office, designed to act as a central hub for its network, a catalyst for creativity and innovation, and a showcase for the flexible working structures that are driving efficiency gains in this new normal working environment. these are in line with the company’s “desire to plant deeper and more permanent roots in Nigeria” and aligns with its wider commitment to environmental sustainability. The company assured that the project will meet the highest global environmental standards, demonstrating the role of green technology in the future of MTN.
Also as the company clocks 20 years in Nigeria, it has revealed that it will create room for more Nigerians in the company. “Following MTN Group’s stated intention to sell down up to 14% of its investment in MTN Nigeria, subject to market conditions over the medium-term, MTN Nigeria’s shareholders approved an equity shelf programme at the last Annual General Meeting. This will facilitate a process to increase ownership of the Company by more Nigerian retail and institutional investors. Alongside this, we further localised our predominantly Nigerian management team with the appointment of Nigerians to two key senior positions – Chief Marketing Officer and Chief Information Officer – previously held by expatriates.”
According to the projection made at the company’s last AGM, MTN Nigeria will continue to invest in improved world class services and its network, accelerating the expansion of its 4G coverage, providing home broadband and spreading its services further into the hinterlands. “As part of our rural connectivity programme, we plan to connect approximately 1,000 rural communities to our network this year with additional 2,000 communities in 2022. We are delighted that these are translating into strong operational performance in line with the objectives of Ambition 2025. In the next 3 years, we will invest over N600 billion to expand broadband access across the country in support of Government’s Broadband Plan.”
On its strategy for the future, MTN Nigeria noted: “To enable us to continue to take advantage of emerging opportunities, we have refined our strategy. The new strategy called Ambition 2025 is closely aligned with that of MTN Group and is built on four key strategic priorities: build the largest and most valuable platforms, drive industry-leading connectivity operations, create shared value and accelerate portfolio transformation. These priorities will define our focus for the next five years. Taking advantage of MTN’s existing platforms and assets, we are well-positioned to accelerate long term growth as we continue to monitor and manage the impacts of the pandemic.”
It also said that the company has a clear focus on sustaining double-digit service revenue growth ahead of inflation, driving 4G and rural network expansion, as well as positioning its fintech and digital businesses for accelerated growth in order to unlock their full value.
MTN was awarded a universal service licence in Nigeria in 2001 and has grown its network to become the dominant operator in the Nigerian mobile telecommunication market.
