MTN has stated that it plans to launch the country’s fifth-generation (5G) network service in the second half of the year.
MTN Nigeria’s Chief Executive Officer, Karl Toriola, revealed this in Lagos yesterday when he announced the company’s collaboration with Pan-Atlantic University (PAU) on the creation of the MTN Media Innovation Programme (MTN MIP), which would be managed by the School of Media and Communication (SMC).
On 5G rollout, Toriola said: “We are ready; we won the license through a transparent auction process. We congratulate NCC on this. We paid the full license fee a month ahead of schedule. Within the information memorandum that the NCC issued, there was a timeline, which indicated that we can launch in H2. We are prepared to launch on the day that the investment memorandum allows us to, and we will explore with the NCC if they allow us. It is still completely at their discretion, but we are fully ready, even now.”
He said that the company has paid N3.5 trillion in taxes to the government and invested over N3.4 trillion in capital since its inception.
According to the CEO, MTN’s move to reduce its ownership position in Nigeria to less than 65 percent was part of the company’s commitment to providing value to the country.
He also stated that the company’s main focus is on attracting more Nigerian retail investors.
“MTN Nigeria plans to progressively reduce its ownership to 65 per cent through a series of offers for sale. MTN is not exiting Nigeria under any circumstances but part of identifying as a Nigerian institution is creating share value for the society.
“As our revenue and subscribers increase, we believe that for us to be socially conscious is by ushering our value position to Nigerians,” he said.
He emphasized that since its creation, the firm had paid over N2.5 trillion in dividends to stockholders and that the recent subscription offer has resulted in a capital gain of over 25%.
He said: “Our focus is on retail investors because 158 new shareholders of MTN, 78 per cent were women, and 80 per cent were under the age of 40. Now, these are direct investors. There are a lot of other shareholders that bought into MTN through institutions like pension funds which hold money on behalf of Nigerians. There are up to six million Nigerians that indirectly hold a stake in MTN Nigeria.”
He said companies that consciously share value with communities where they operate show a better return on a long-term basis than others. “We care about the environment we operate in, we want to share value, in today’s world, companies that consciously share value with communities they operate in show a better return on a long term basis than others.”
The MTN CEO stated that the MTN NIP is a six-month, fully funded fellowship for Nigerian media practitioners that is aimed to help the country’s dynamic media scene’s long-term development. He added that It is available to all types of media professionals, including print, electronic, internet platforms, and social media content makers.
He went further to say that the course will provide participants with a better understanding of Nigeria’s technology sector and the nexus between media and technology, as well as better adaptability to changing realities. Fellows will also have access to professional resources and mentorship from SMC faculty.
“We are driven by our belief that everyone deserves the benefits of a modern connected world and are driving accelerated growth by leading digital solutions for Nigeria’s progress. Against this backdrop, the media landscape continues changing at remarkable speeds, boosted by new technologies. Thus, it is only fitting that we support developments in the Nigerian media space with our infrastructure and enable capacity-building initiatives to enable innovation in media practice.
“It’s a delight to partner with the Pan-Atlantic University, who, through their expertise, have contributed to the professional development of the media industry, not only in Nigeria but across Africa,” Toriola noted.
Vice-Chancellor, Pan-Atlantic University, Prof. Enase Okonedo, said: “The School of Media and Communication was established to train professionals who will uphold the highest intellectual, ethical and professional values that promote creativity, critical knowledge, social responsibility and the spirit of enterprise. The MTN Media Innovation Programme could not have come at a better time for Nigerian media practitioners to imbibe these pertinent values.”
