Mon. Sep 21st, 2020

Telecoms firm MTN to invest $1.6 billion in Nigeria: statement

1 min read

JOHANNESBURG (Reuters) – Telecommunications firm MTN Group, said it would invest $1.6 billion in Nigeria after it resolved a legal case with the government.

In a statement issued late on Wednesday, the company said it planned a capital investment program of $1.6 billion, or roughly 580 billion naira, over three years in its network and operations in Nigeria.

Earlier this month, Nigeria’s attorney general said he had withdrawn a $2 billion tax demand against MTN.

(Reporting Olivia Kumwenda in Johannesburg, writing by Libby George; editing by David Evans)

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