This was made known in a corporate disclosure signed by the company secretary, Uto Ukpanah on the Nigerian Exchange (NGX).
The corporate disclosure stated that the investment will aid the acceleration of 4G coverage in Nigeria and expand broadband access in line with MTN’s ambition 2025 strategy.
It noted that, “the transaction represents EIB’s largest financing for mobile telecoms network expansion in Africa. It will help improve network capacity across the country to accommodate rising data traffic, and enhance coverage in Lagos and Ogun states.”
