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Telecoms firm MTN to invest $1.6 billion in Nigeria: statement

FILE PHOTO: A general view shows MTN head office in Lagos, Nigeria October 29, 2018. Picture taken October 29, 2018. REUTERS/Afolabi Sotunde

JOHANNESBURG (Reuters) - Telecommunications firm MTN Group, said it would invest $1.6 billion in Nigeria after it resolved a legal case with the government.

In a statement issued late on Wednesday, the company said it planned a capital investment program of $1.6 billion, or roughly 580 billion naira, over three years in its network and operations in Nigeria.

Earlier this month, Nigeria’s attorney general said he had withdrawn a $2 billion tax demand against MTN.

Reporting Olivia Kumwenda in Johannesburg, writing by Libby George; editing by David Evans

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