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MTN Nigeria Invests $120 Million to Expand 5G Coverage Amidst Forex Challenges

MTN Nigeria Invests $120 Million to Expand 5G Coverage Amidst Forex Challenges
4407C61D 37DD 4CE3 81A2 F3753179C4CD jpeg REPORT AFRIQUE International MTN Nigeria Invests $120 Million to Expand 5G Coverage Amidst Forex Challenges
Mtn Nigeria Invests $120 Million To Expand 5G Coverage Amidst Forex Challenges 7

MTN Nigeria has disclosed an investment of over $120 million in the last two years in a bid to enhance telecommunications infrastructure and expand 5G coverage across Nigeria. The Chief Financial Officer of MTN Nigeria, Mr. Modupe Kadri, revealed this in an exclusive interview with Nairametrics, highlighting the company’s commitment to driving technological advancement in the country.

Kadri emphasized that these investments have significantly increased 5G coverage, with the population coverage rising from 3% in 2022 to 11% in 2023. However, he noted that addressing the forex challenges and instituting fair pricing mechanisms are crucial to encourage further investments in the sector.

MTN’s Investment:

MTN’s investment of over $120 million in expanding 5G coverage reflects the company’s commitment to building resilience and meeting the growing demand for telecommunications services in Nigeria. Kadri highlighted the necessity of such investments to accommodate the increasing traffic on the network and ensure seamless connectivity for subscribers.

Kadri underscored the importance of engaging with industry regulators to ensure appropriate pricing that justifies continued investments in telecommunications infrastructure. He cautioned that without fair pricing mechanisms, operators may face challenges in further investing in infrastructure, ultimately hindering technological progress in the country.

5G Adoption and Challenges:

Despite the deployment of 5G infrastructure by telecom operators across major cities such as Lagos, Abuja, and Port-Harcourt, the adoption of 5G technology has been relatively slow. This can be attributed to device limitations and the devaluation of the Naira, which has affected subscribers’ purchasing power, making it challenging for many to switch to 5G smartphones.

Industry Data:

According to the latest data released by the Nigerian Communications Commission (NCC), 5G connections in Nigeria reached 2.3 million in December 2023, representing 1.04% of the country’s total active subscriptions for telephone services. While telecom operators continue to deploy 5G infrastructure, the slow adoption underscores the need for addressing challenges such as device availability and affordability.

MTN’s 5G Deployment:

MTN Nigeria launched the first 5G network in September 2022, initially rolling out the service in seven cities, including Lagos, Abuja, and Port Harcourt. The company is currently expanding its 5G service to additional cities to provide enhanced connectivity and technological capabilities to more Nigerians.

Airtel and Mafab Communications:

Airtel also launched its 5G service in June 2023, initially deploying the service in four states with plans for further expansion. Similarly, Mafab Communications, which secured a 5G license alongside MTN, began rolling out its 5G service in late 2023, fulfilling its rollout obligations across six cities in Nigeria.

In conclusion, MTN Nigeria’s significant investment in expanding 5G coverage reflects the company’s commitment to driving technological innovation and enhancing telecommunications infrastructure in Nigeria. However, addressing challenges such as forex fluctuations and device affordability is crucial to accelerating 5G adoption and ensuring inclusive access to advanced telecommunications services across the country.

This Article is Fact-Checked. See Policy.
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