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MTN To Double Spending In Nigeria In 2016

The MTN Group Wednesday said in Johannesburg that it would dramatically increase capital spending in Nigeria in the 2016 fiscal year.

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It said in a presentation posted on its site that it would spend 11.1 billion rand (726.13 million dollars) to upgrade its system in Nigeria.

The figure, as indicated by Reuters, is substantially higher than about 5 billion rand spent a year ago. MTN’s arrangement will see the take off of 3G network population coverage from 67.23% to around 90%, it said in the presentation.

The aggressive roll out of fibre to six Nigerian cities by the end of 2016 will enable the connections,’’it said.

The Company likewise said it expected higher incomes in Nigeria upheld by reconnecting subscribers and the presentation of new service in May.

The capital spending is coming days in the wake of agreeing to pay an intensely reduced penalty for missing a due date to deactivate more than 5 million unregistered SIM cards.

Johannesburg-based MTN said on Friday, following quite a while of talks, that it had agreed to pay an intensely diminished fine of 1.7 billion dollars or 33% of the underlying penalty.

MTN is the biggest mobile telephone operator in Nigeria with 57 million subscribers, and the nation represents around 3rd of its incomes.

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