
Audio By Carbonatix
Telecommunications firm MTN Group will invest $1.6 billion in Nigeria, the company said, after it resolved a major legal case with the government in its biggest market.
Earlier this month, Nigeria’s attorney general said he had withdrawn a $2 billion tax demand against MTN, bringing to a close the company’s latest disagreement with the government.
The South African firm has for years been dogged by legal woes in Nigeria as the government has sought billions of dollars for various alleged infractions.
In a statement issued late on Wednesday, the company said it now planned to invest $1.6 billion, or roughly 580 billion naira, over three years in its network and operations in Nigeria.
“We are fully aligned with the strategic agenda of the Nigerian government and are committed to strengthening the digital economy of the country,” said MTN Chairman Mcebisi Jonas in the statement.
Investors have said the legal rows with MTN have damaged the West African country’s appeal, despite it having the largest economy and population on the continent.
Latest Stories
-
YEA clears majority of beneficiary arrears, assures completion of outstanding payments
1 minute -
AfCFTA key to building globally competitive African businesses – Zambia envoy urges Ghanaian CEOs
14 minutes -
Albert Kobina Mensah, soil pollution and remediation: Risk assessment, phytoremediation, revegetation
19 minutes -
GIFEC supports national rollout of One Million Coders Programme with laptop presentation
28 minutes -
Old Tafo MP rolls out street lights project to boost security and night-time economy
35 minutes -
Telecel Ghana CEO urges urgent education reform and stronger industry-academia partnership at UEW Public Lecture
45 minutes -
Nigerian army general and several soldiers killed in assault on military base in northeast
46 minutes -
Dagbamete chief urges completion of road project, expansion of vocational training
53 minutes -
Urgently cancel Truedare AI Customs deal over cost concerns – Joseph Cudjoe to Mahama
60 minutes -
Poor safety habits to blame for recurring boat fatalities — GMA boss, Kamal-Deen Ali
1 hour -
Owabi 75% blocked, Barekese loses 40% capacity as siltation, plastics threaten water supply crisis
1 hour -
Ashanti RCC seeks to clear unauthorised garages under new car mall initiative
1 hour -
DPS International steals spotlight at Ghana Interschool Festival Part 2
1 hour -
Republic Bank Ghana PLC leverages Kwahu Business Forum deliberations
1 hour -
Ghana and Artemis II: Hospitality, Love, and Conquest
1 hour