MTN plans three-year US$1.5bn investment to improve broadband connectivity in Nigeria

08 October 2021

Nigeria wants to increase the internet penetration rate to 90% by 2025, the government said.

The announcement has led to a raft of mobile operators in the country battling to win more market share and solidify their customer base.

South Africa’s MTN announced plans to invest ₦640bn (US$1.5bn) in Nigeria over the next three years to improve access to broadband.

MTN chief executive officer Ralph Mupita made the announcement June 21 following at the end of a three-day working visit to Nigeria during which he met with the president Muhammadu Buhari, vice president (VP) Oluyemi Oluleke Osinbajo, minister of communications and digital economy, Isa Ali Pantami and executive VP of the Nigerian Communications Commission (NCC), Umar Garba Danbatta.

MTN’s investment in Nigeria is in line with the National Broadband Plan 2020-2025 adopted by the Federal Government last year, which aims to increase the penetration rate of quality Internet connectivity to 90%. It is also in line with the company’s “Ambition 2025” development strategy, which is to become a “leading provider of digital solutions for Africa’s progress.”

Improved internet access for millions of Nigerians will help MTN to further increase the country’s financial contribution - which accounts for nearly 35% of its annual performance - to its revenues.