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Chairman of Bharti Airtel, Sunil Mittal exchange handshakes with President Bola
Tinubu [PHOTO: Presidency]
WE HAVE INVESTED OVER $4 BILLION IN NIGERIA – AIRTEL
“...I THINK THE FUTURE WILL BE GLORIOUS FOR THIS COUNTRY,” THE AIRTEL BOSS SAID.
byPremium Times
June 19, 2023
Reading Time: 2 mins read
0
Chairman of Bharti Airtel, Sunil Mittal, on Monday, said it has so far invested
$4 billion into the Nigerian economy since the company began operations in the
country.
Mr Mittal disclosed this while speaking to State House Correspondents after he
met with President Bola Tinubu on Monday.
“We are already investing about $400 million a year in Nigeria, which has been
going on for the last many years, and that will continue. That is business as
usual. We have invested just under $4 billion since the time we came into
Nigeria,” he said.
He further disclosed that the company is willing to invest 700 million dollars
in the country in the next two years as it rolls out the 5G network.
“To roll and experience the 5G and more fibre into the ground and data centres
will require $700 more million in order to achieve that, so, $400 million is
what we generally invest every year, but with 5G the investment is only going to
go up for the next two or three years before it comes back to what it used to
be,” Mr Mittal added.
--------------------------------------------------------------------------------
The telecom mogul said he sees a lot of investment opportunities in Nigeria and
with the steps so far taken by the Tinubu administration, adding that a better
future awaits the country.
--------------------------------------------------------------------------------
READ ALSO: ‘NIGERIA AT WAR YET WE CONTINUE TO PRETEND’ – WOLE SOYINKA
--------------------------------------------------------------------------------
Mr Tinubu’s recent reform of the nation’s foreign exchange regime drew
widespread commendation among global financial institutions, investors and
experts, in addition to his removal of fuel subsidy. Mr Mittal noted that the
reforms would attract investment and drive economic growth, adding that the
Tinubu administration has shown commitment to removing Nigerians from poverty
and leveraging Nigeria’s potential to build digital infrastructure for the
benefit of its citizens.
“I can tell you, this country has tremendous future; with 220 million young and
energetic people and in the next ten years, the country will be the 3rd largest
in the world with the current steps taken like the floating of naira and taking
fuel subsidy out, as well as organising oil production in a better way, I think
the future is going to be glorious for this country,” he said.
The Airtel boss was accompanied to the villa by other senior officials of the
company, including the Chief Executive Officer of Airtel Africa Limited, Segun
Ogunsanya.
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