Nigeria MTN Nigeria Invests $120 Million to Boost 5G Coverage, Plans Further Expansion

MTN Nigeria's Chief Financial Officer, Mr. Modupe Kadri, revealed in an exclusive interview with Nairametrics that the company invested over $120 million in expanding 5G coverage in the last two years. These investments boosted 5G coverage from 3% in 2022 to 11% in 2023, with plans for further expansion. Kadri emphasized the need for the government to address the forex situation and implement fair pricing to incentivize more investments.

While engaging with the industry regulator to ensure appropriate pricing, Kadri warned that without these adjustments, telecom operators might struggle to invest in future infrastructure. MTN, despite the challenges, expanded its 5G coverage in major cities, including Lagos, Abuja, and Port-Harcourt.

The latest data from the Nigerian Communications Commission revealed that 5G connections reached 2.3 million in December 2023, representing 1.04% of the country's total active subscriptions. Slow adoption is attributed to device limitations and the devaluation of the Naira, impacting operators' capacity and subscribers' purchasing power.

MTN pioneered 5G in Nigeria in September 2022, while Airtel followed suit in June 2023. Mafab Communications, securing a 5G license concurrently with MTN, faced delays in rolling out the service until late 2023. Despite challenges, the telecom industry remains committed to expanding 5G services across the country.

Source: Nairametrics