Group Chairman of one of the leading telecommunications outfits, MTN, Mcebisi Jonas, has announced plan to invest $3.5 billion in the Nigeria’s economy over the next five years.
Jonas, who led a delegation of the company’s top management team on a visit to President Bola Tinubu today, July 7, at the Presidential villa in Abuja, said the company has a broader vision of becoming a pan-African company by moving investments from the Middle East and focusing more on Africa.
He said that Nigeria will be top in its priority because it gets the highest return on investment.
Jonas congratulated the President for the upswing of interest in the country within a short period since he assumed office, May 29, 2023.
He promised to support in mobilising other investors with about $1.5 trillion to look towards Nigeria, where reforms had been styled to favour business and encourage inclusive development.
“The message you have given us is that Nigeria is investible, and with your election, we are seeing decisive, prompt and keen interest in structural reforms.”
This was even as President Tinubu assured the manufacturing and service sectors that more reforms will be unfolded to enable efficiency and attract investments.
He told the visitors that the ongoing economic ‘‘revolution’’ will be deliberately steered to capture and favour teeming youths in the country.
“We have a responsibility to revolutionize the economy so that our youths can share in the prosperity of the nation, otherwise we are only waiting for the dreams to be charted.
“If you have any problems or impediments do let us know. We are ready to remove bottlenecks to investments in the economy.’’
The President acknowledged the sweeping changes across the world, largely driven by technology.
President Tinubu said that the growing rural-urban migration can only be controlled with more investments in digital technology that will directly improve healthcare systems and education for the poor.
“I am happy you are moving from Corporate Social Responsibility to be more incisive and inquisitive with technology so that we can see how we can partner structurally,’’ the President stated.
“You can do a lot for the economy by partnering with us. We believe no one can succeed alone. The structural adjustments we are making are to ensure we face the right direction and arrive at a destination that caters for our people.
“You and I will make sure that the people have a share of that prosperity. We will, together, build a well-informed society. We have to re-assess the journey. I am glad that the stock market is responding positively to the structural adjustments.’’
The Group President/CEO of MTN, Ralph Mupita, Chairman of MTN Nigeria, Ernest Ndukwe and Chief Executive Officer, Olutokun Karl Toriola were part of the visitors.
