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Earlier this month, Nigeria’s attorney general said he had withdrawn a $2 billion tax demand against MTN, bringing to a close the company’s latest disagreement with the government.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
-
Online fraud accounts for 47% of Ghana’s cyber incidents – CSA
59 seconds -
Rome declares security ‘red zone’ around the Colosseum to protect tourists amid violent crime incidents
3 minutes -
Interior Ministry investigated Gomoa-Effutu boundary concerns before clashes – A Plus
15 minutes -
Chief Justice praises MIIF, other SOEs, questions what Ghana was doing in past 8 years
39 minutes -
FDA recalls Arcan Bitters over undeclared erectile dysfunction drug
48 minutes -
Delta takes sports fandom global with new Sport 24 partnership
49 minutes -
Iranian attack on Saudi tanker killed two Filipino sailors, Saudi Arabia says
1 hour -
Presidency reveals ‘impending reshuffle’ of SOE CEOs
2 hours -
Gov’t to provide industrial crushers to support informal waste recyclers
2 hours -
The Scroll That Rules the World: The unstoppable power of social media
2 hours -
Treat Okuapeman-Mount Sinai violent clash as a criminal matter – Akuapem North MP
2 hours -
‘Leadership has failed’ – NDC executive raises concerns over development in Madina
2 hours -
Vendors promise quality, discounts at Joy FM Back-to-School Fair
2 hours -
Ghana leather manufacturers demand lower tariffs, threaten demonstration over high costs
2 hours -
Roads Minister threatens to terminate Techiman–Nkonsia–Wenchi road contract
2 hours