MTN Nigeria has said it will prioritise the expansion of the 4G network with an estimated N600 billion on technical infrastructure over the next three years as it looks to increase 4G network across the country from the existing 40% coverage.
Speaking at the company’s first public Annual General Meeting which held in Lagos on Friday, 15th May 2020, Ferdi Moolman, CEO, MTN Nigeria said:
“Due to the nature of our business, we are committed to innovating new technology and delivering the best customer experience which can be capital intensive, our target is to have coverage across the country and a minimum of 4G network service across all locations.
“Cash collateralized Letters of Credit, Forwards contracts, and favourable credit rating with major partners and vendors will make funding relatively easy for us, but we will also be cautious in our approach to limit foreign currency exposure.”
Presently, the company’s 4G network covers approximately 40% of its coverage locations which translates to about 65 million data customers. A significant amount of investment would be made to not just extend the 4G network but to also cover more rural locations in Nigeria. The company expressed excitement on the possibilities that the transition to digital platforms presents to the company as growth in voice revenue is also expected to remain healthy.
“We closed the year with 132 cities covered by 4G and became the first mobile network operator in West Africa to demonstrate the capability of 5G technology. We are excited about its potential for our customers and the country’s national development plans.
“We maintained our leadership position in network net promoter score (NPS) as we continue to invest to improve service quality and drive expansion and innovation,” Moolman said.
This investment in infrastructure will enable the company to accelerate its 4G network expansion, deepen population coverage, and support the Federal Government’s broadband initiatives.