The Chief Financial Officer of MTN Nigeria Plc, Modupe Kadri, has disclosed that the telecom firm spent N1,63tn on capital investment in the last 18 months.
He announced this at the firm’s 25th anniversary celebration, which was commemorated with an exhibition at its headquarters in Lagos on Monday.
“So, over the last 18 months, we spent N1.63m on CAPEX or capital investments. Basically, prior to January 2025, when the regulator gave us a tariff increase. Before that time, there was no increase in prices. So, what we’ve done since then is that we’ve committed over a trillion to CAPEX.
“We’ve also paid over N620bn in terms of taxes and levies. And one thing you need to understand is that at the top line, 2.5 per cent of everything you see is actually operating licence. So, that’s how it works. And we continue to meet our obligations in terms of our licence and insurance,” Kadri explained.
According to the CFO, investing Nigerians have enjoyed appreciable capital gain since MTN listed at the Nigerian Exchange in 2021.
