MTN to Invest $3.5bn, Mobilise $1.5trn Other Investments into Nigeria’s Economy

The MTN Group has said it has a plan to invest $3.5 billion in the Nigerian economy over the next five years.

This is part of a broader vision of becoming a pan-African company by moving investments from the Middle East and focusing more on Africa, especially Nigeria, where it gets the highest Return on Investment (RoI).

MTN Group Chairman, Mcebisi Jonas, made this known when he led a delegation to meet President Bola Ahmed Tinubu at the State House, Abuja on Friday.

Jonas congratulated the President for the upswing of interest in the country within a short period since he assumed office, May 29, 2023, promising to support in mobilisation of other investors with about $1.5 trillion to look towards Nigeria, “where reforms had been styled to favour business and encourage inclusive development.

“The message you have given us is that Nigeria is investible, and with your election, we are seeing decisive, prompt and keen interest in structural reforms,’’ the MTN Group Chairman noted.

The Group President/CEO of MTN, Ralph Mupita, Chairman of MTN Nigeria, Ernest Ndukwe and Chief Executive Officer, Olutokun Karl Toriola were also part of the meeting.