(Ecofin Agency) - Following a meeting with President Muhammadu Buhari on January 28 in Abuja, Mcebisi Jonas, President of the MTN Group, announced plans to invest $1.6 billion to improve and strengthen the operations of the company’s Nigerian subsidiary. 

Mcebisi presented the projects in which his company plans to invest in Nigeria in the long term. Welcoming the initiatives, President Buhari said: “your proposed projects, such as the rural telephony project, will surely complement our economic diversification and financial inclusion programs by connecting the producers based in rural areas to consumers located in our major towns and cities.”

According to Mcebisi Jonas, the purpose of MTN Group's visit to the President of the Federal Republic was to express the company's gratitude to Muhammadu Buhari. “Most of the issues we raised during your visit to South Africa (in October 2019, ed) have been addressed, and there is progress on the remaining ones,” Mcebisi said 

On 10 January this year, Nigeria's attorney general canceled the request for the repayment of $2 billion in taxes deemed unpaid, issued in August 2018 against MTN Nigeria. With this cancelation, the Nigerian subsidiary of the South African group has settled its latest disputes in the country.