(Ecofin Agency) - Airtel is stepping up its investments to gain a foothold in the Nigerian telecoms market, which is contested by MTN, Globacom, and 9mobile. The company claims to have invested around $10 billion in its Nigerian operations over the past ten years.

Telecom company Airtel Nigeria, a subsidiary of Airtel Africa, plans to invest $700 million annually over the next three to four years to roll out its 5G network, install fiber optic cables and build data centers. This was revealed by Sunil Bharti Mittal, Chairman of Bharti Airtel, the parent company of Airtel Africa, during his meeting with Nigerian President Bola Ahmed Tinubu on Monday, June 19.

This initiative is part of Airtel's ambition to reinforce its growth strategy in Nigeria by meeting the growing demand for high-speed connectivity. The company wants to accelerate the rollout of its 5G network to remain competitive with rival MTN, which launched its commercial ultra-broadband services in September 2022 and whose network already covers 13 cities in the country. The subsidiary of South African multinational MTN Group is aiming for a 10% coverage of the Nigerian population by the end of the year and nationwide coverage by 2025.

This investment should also enable Airtel to strengthen its position in the Nigerian telecom market. The company controls 27.01% of the national mobile subscriber base, according to the latest data from the regulator. Competitors 9mobile, Globacom and MTN have market shares of 6%, 27.28%, and 39.70% respectively.

Isaac K. Kassouwi