Airtel to Invest USD 700 Million in Nigeria, Reveals Mittal: Report

Chairman of Bharti Enterprises, Sunil Bharti Mittal, met with President Bola Tinubu and expressed support for Nigeria's economic policies. Airtel plans to invest USD 700 million in the country and roll out 5G services.


  • Sunil Bharti Mittal meets President Tinubu, discusses economic policies.
  • Airtel to invest USD 700 million in Nigeria and expand 5G services.
  • Airtel Nigeria launches commercial 5G services, marking a significant milestone.

Follow Us

Airtel to Invest USD 700 Million in Nigeria, Reveals Mittal: Report

Sunil Bharti Mittal, Chairman of Bharti Enterprises, held a meeting with Nigerian President Bola Tinubu at the Presidential Villa in Abuja on Monday, as reported by the local press. After the meeting, Mittal expressed his support for the government's decision to float the Naira, stating that it will attract foreign investments to the country.

Also Read: Airtel Africa Acquires 4G and 5G Spectrum for USD 316.7 Million

Accompanied by Dr Segun Ogunsanya, Chief Executive Officer of Airtel Nigeria, Mittal commended the President for facilitating easier access to foreign exchange. He acknowledged that the previous lack of accessibility had hindered Airtel's importation of critical equipment necessary for its operations in the country. According to Mittal, the global market has responded positively to the devaluation of the Naira, leading to increased investor interest in Nigeria.

Airtel's investment plans and 5G rollout

Highlighting Airtel's substantial investment of nearly USD 4 billion since entering Nigeria, Mittal revealed the company's plans to roll out 5G services. He also announced an additional investment of USD 700 million over the next two years. Emphasizing the importance of Nigeria in Africa, Mittal stated that the country holds the potential to become an economic powerhouse. He emphasized that Nigeria's involvement is crucial for the success of the African strategy.

Also Read: Airtel Africa Renews 2100 MHz Spectrum License in Nigeria

The local media reported Mittal as saying, "We're already investing about USD 400 million a year, which has been going on for the last many years. That will, of course, continue. That is business as usual. On top of that, to roll out the 5G and more fibre into the ground and data centres will require more USD 700 million to get to that outcome."

"So, while there is no exact number, I can give you, all I can tell you is USD 400 million is what we generally invest every year. With 5G, the investment is only going to go up for the next two or three years, before it comes back to the same USD 350, USD 450 million a year. We have invested just under USD 4 billion since the time we have come into Nigeria," Mittal was quoted according to the reports.

Chairman Mittal praises President Tinubu's commitment

During the meeting, Mittal expressed his admiration for President Tinubu's commitment to poverty eradication and praised the President's decisive actions and clear thinking. The Airtel Chairman described the floating of the Naira as a commendable move and lauded the President for his dedication to uplifting the country's citizens.

Additionally, Chairman Mittal shared his plans to present recommendations for enhancing trade between African countries using local currencies at the upcoming G20 Summit in India.

Also Read: Airtel Nigeria Launches Commercial 5G Services

Airtel Nigeria launches commercial 5G services

In other news, Airtel Nigeria officially launched its commercial 5G services on June 19, marking a significant milestone in the telecom company's operations.

With these developments, Bharti Airtel is demonstrating its confidence in Nigeria's economic prospects and commitment to expanding its services to meet the growing needs of the country's telecommunications sector.

Recent Comments

avinashsuwal :

it is working in MPCG also

Vodafone Idea Brings Wi-Fi Calling to More Places

avinashsuwal :

now scammer got another chance to lure innocent's ? ? ?

BSNL Urges Customers to Complete Digital KYC Before Sep End

Faraz :

I don't know why dislikes, but less than 10% of BSNL customers are aware enough or take efforts themselves to…

BSNL Urges Customers to Complete Digital KYC Before Sep End

Faraz :

True.. This free installation by Airtel/Jio is something no one else able to compete with. Even BSNL don't provide free…

RailWire has an Amazing 50 Mbps Plan with 15 OTT…

. :

quality 4g is fine no hurry for 5g...

Vodafone Idea Brings Wi-Fi Calling to More Places

Load More
Notify of
Inline Feedbacks
View all comments