MTN Nigeria’s Chief Financial Officer, Mr. Modupe Kadri, has revealed that the company invested over $120 million in expanding 5G coverage over the past two years.
These efforts have increased 5G coverage from 3% in 2022 to 11% in 2023.
In an interview, Kadri emphasized the need for urgent government action to address forex challenges and institute fair pricing, crucial for encouraging further investments.
He highlighted ongoing engagements with the industry regulator to ensure appropriate pricing, expressing concern that without such adjustments, operators might face difficulties in investing further in infrastructure.
Despite these challenges, industry data from the Nigerian Communications Commission (NCC) reported 2.3 million 5G connections in December 2023, representing 1.04% of the country’s total active subscriptions.
The slow adoption is attributed to device limitations and the devaluation of the Naira, affecting operators’ capacity to invest and subscribers’ purchasing power.
MTN, which launched Nigeria’s first 5G network in September 2022, initially covered seven cities and continues to expand.
Airtel, entering the 5G space in June 2023, focused on four states initially, with plans for further expansion.
Mafab Communications, securing a 5G license alongside MTN, began its rollout in late 2023, initially launching in Abuja.
