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Inino revealed that MTN Nigeria had been grappling with an alarming surge in vandalism against its facilities and infrastructure, particularly in Nigeria’s Southeast. He described these incidents as ‘uncontrollable variables’ that the company was handling diligently to ensure uninterrupted service delivery, especially during emergencies.
The telecom giant raised the alarm just days after receiving approval from the Nigerian Communications Commission (NCC) to acquire a 2.6GHz spectrum band from OPENSKYS Services Limited (OS). The acquisition is expected to enhance MTN’s network capacity and improve service quality for its subscribers.
Despite these challenges, Inino highlighted MTN’s strong presence in Anambra state, where it boasts over 50% of the subscriber base. The company has over 7,000 agents and 300 merchants spread across municipalities, local councils, and villages in the state.
Anambra’s growing population of over 8 million makes it an attractive market for MTN Nigeria. The company is keen on leveraging this potential ahead of the anticipated smart mega-metropolis. It is also working towards its vision for 2025, which includes the development of a digital city platform to ensure everyone can enjoy the benefits of a modern, connected life.
Inino underscored the need for government partnerships to protect their infrastructure and guarantee efficient service delivery. The company is also looking forward to continued aggressive awareness and advocacy campaigns to ensure improved availability and wide coverage for its numerous customers.
Earlier this year, MTN Group Ltd. agreed with Mastercard Inc (NYSE:MA). to invest in its financial technology business, a deal that saw Mastercard acquire a minority stake in the business that MTN values at $5.2 billion. The company also partnered with Mastercard Foundation and Enterprise Development Centre (EDC) to provide entrepreneurial skills to 20,000 Nigerian females.
However, the telecommunications company, along with others listed on the Nigerian exchange, has faced significant foreign exchange losses due to the depreciation of the naira. The Central Bank of Nigeria (CBN), under President Bola Tinubu’s directive, decided to float the naira on June 14, 2023, which led to its severe depreciation against other foreign currencies.
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