Nigeria: MTN claims USD 13 Billion investment

According to MTN Nigeria, the company has invested USD 13 Billion in fixed assets and facilities nationwide in its thirteen years of operation in the country.

MTN is set to renew its license by 2016 in Nigeria and currently has a 45 percent market share with 58.2 million subscribers, This is according to the latest statistics from regulator NCC. MTN has stated that it has the most extensive network coverage, spread across 3,649 cities, town and villages in all 36 states of the federation, including the Federal Capital Territory (FCT).

The Guardian revealed that, within Nigeria, MTN provides network coverage to 74.56 percent of Nigeria’s land mass, and about 87.15 percent of the population has access to MTN services. MTN operates an extensive distribution chain with 78 trade partners and an information distribution chain of over 450 walk-in centres across Nigeria.

MTN has stated that: “Our corporate social responsibility foundation has invested over NGN 10 billion in 341 projects sites in the 36 states of the country and the FCT, funded by up to 1 percent of MTN’s pretax profit.”

The MTN Group has also graced the headlines this week. MTN Group has noted that a tribunal of independent arbitrators has ruled against Turkish mobile operator Turkcell, in the investor-state arbitration under a bilateral investment treaty case held in terms of the rules of the United Nations Commission on International Trade Law (UNCITRAL).

Darryl Linington