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MTN to Invest N89.999Bn Series II Bond Proceeds in Network Expansion

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MTN Nigeria has launched the book build in respect of the Series II 10-Year Fixed Rate Bond (Series II Bond), and have concluded plans to invest the proceeds from the book launch, which amounts to N89.999 billion, in its network expansion drive.

MTN to Invest N89.999Bn Series II Bond Proceeds in Network Expansion

This followed the approval from the Securities and Exchange Commission (SEC).

The telecommunications company had successfully raised N110.001 billion through the Series I bond in May 2021 and is set to raise N200 billion through Series II.

This is just as the company has revealed that it has paid over N93.66 billion in taxes to the Federal Government of Nigeria for the fiscal year 2020.

The effort, it stated, is in line with its commitment to fulfilling its civic responsibility and stimulating economic growth and infrastructure development in the country.

In a recent interview with Arise News, Modupe Kadri, chief financial officer, MTN Nigeria, elaborated that MTN, throughout the years, has remained consistent with performing its civic responsibility.

Kadri stated that the bond issuance would reinforce MTN Nigeria’s strategy of diversifying its funding sources.

According to him, “As part of its expansion drive for its Ambition 2025 initiative, and its new growth strategy, the proceeds will be used to finance the existing obligations and put into the network for critical network infrastructure to drive network expansion.

“We are coming out of a pandemic, so interest rates are generally down. We have existing facilities with the banks, which were based on floating rates. Naturally as the rates went down, so did finance costs. We took advantage of the low rate in the market to also establish a Commercial Paper (CP) programme, which was oversubscribed, and we decided to put this bond programme in place knowing fully well that the rates are not likely to remain at those levels. So, it is better to have a long-term view because our business is highly capital intensive and that means you have to try to match those returns to your annual outgoings. This is what we are trying to do with the structuring of the bond programme.”

He further explained that some proceeds gotten from Series II Bond would be used for the expansion of 4G network as there has been an increase in data usage following the COVID-19 lockdown. The telco also intends to increase its overall coverage and expand to the rural communities to avail everyone an opportunity for digital connection using the MTN network.

Kadri also expressed the telco’s intention to further grow its digital businesses.

“Proceeds will also be used to position our Fintech and digital businesses for accelerated growth and to unlock their full value. In addition to this, MTN will continue to sustain an expense efficiency programme to strengthen its financial position and support margins,” Kadri said.

 


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NCC Begins Review Telecom Termination Rates after 8 Years

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Nigerian Communications Commission (NCC) has commenced a comprehensive review of Mobile Termination Rates (MTR) eight years after the current rates were introduced, citing changing economic realities, technological advancements and shifts in telecommunications traffic patterns.

NCC Begins Review Telecom Termination Rates after 8 Years

Mobile Termination Rates are regulated fees paid by one operator to another to complete calls across networks.

They influence competition, investment, and retail pricing.

The exercise, kicked off in Lagos at a mobile termination rate stakeholder forum on Tuesday, brought regulators, operators and industry participants into a structured process to reassess wholesale pricing rules that govern payments between networks for completing voice calls.

Speaking at a stakeholders’ engagement in Lagos, Mrs Omotayo Mohammed, head of Competition and Tariff at the NCC, said the review had become necessary because the existing rates no longer reflect prevailing operational and economic conditions in the telecommunications sector.

According to her, the current MTR stands at N3.90 per minute for generic operators and N4.70 per minute for new entrants, rates that have remained unchanged since 2018.

Mohammed noted that the telecommunications landscape has undergone significant changes over the years, driven by naira depreciation, rising inflation, escalating energy costs and evolving consumer behaviour.

“The foundation of wholesale interconnection affects every stakeholder in this room. Misaligned termination rates can enable dominant operators to foreclose smaller competitors, deter infrastructure investment and ultimately burden consumers through inflated retail prices,” she said.

She explained that the deployment of 5G networks, artificial intelligence (AI)-driven services and Internet of Things (IoT) applications has altered network usage patterns beyond what was envisaged in the 2018 cost model.

Mohammed further observed that over-the-top (OTT) platforms such as WhatsApp and Telegram now account for a significant share of voice and messaging traffic, reducing dependence on traditional interconnection services.

To drive the review process, the NCC has engaged KPMG as consultant for the study and stakeholder engagement exercise, which is expected to last four months.

The exercise will also examine issues relating to Unstructured Supplementary Service Data (USSD) services and application-to-person (A2P) short message service (SMS), both of which have become increasingly critical to Nigeria’s digital economy.

Mohammed stated that the review is being conducted in line with Sections 4, 96, 97 and 108 of the Nigerian Communications Act 2003, which empower the commission to promote investment, protect consumers and ensure fair competition.

She said the study would establish a cost-reflective MTR framework across different technology generations, operator categories and clearing house arrangements.

The review will also cover international termination rates (ITR) to tackle grey-route traffic concerns, develop a pricing framework for mobile virtual network operators (MVNOs) and assess the current asymmetric rate structure between established operators and new entrants.

“The consultancy adopts an evidence-based and consultative approach. Stakeholders will have opportunities to submit their views and validate assumptions before any determination is made,” Mohammed assured.

She added that the review is expected to enhance retail affordability, improve access to digital financial services and enable operators to recover costs in line with prevailing capital and operational expenditure realities.

According to her, transparent and cost-reflective rates will encourage infrastructure investment and boost investor confidence in Nigeria’s digital economy.

Mohammed also assured stakeholders that the NCC would make its methodology, key assumptions and cost model parameters available throughout the process to ensure transparency and accountability.

In her remarks, Mrs Nnenna Ukoha, director of Public Affairs at the NCC,  noted that mobile termination rates remain central to pricing structures, competition, service quality and overall consumer experience.

“We are particularly encouraged by the rapt attention, intellectual rigour and keen interest demonstrated by participants throughout today’s session.

“This active engagement reflects not only the relevance of the issues discussed but also a shared commitment to the sustainable growth and development of Nigeria’s telecommunications sector,” Ukoha said.

She stressed that discussions at the forum highlighted both the challenges and opportunities associated with the MTR determination process and underscored the need for sustained stakeholder engagement.

Ukoha reiterated that the consultation window remains open and encouraged industry stakeholders to submit additional inputs, data and perspectives to support a balanced, forward-looking and sustainable outcome for the sector.

She reaffirmed the NCC’s commitment to collaboration and inclusive regulation aimed at building a resilient, competitive and future-ready telecommunications industry.


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Airtel Africa Foundation Completes Year One Scholarship Disbursement for 100 Tech Scholars in Nigeria

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The Airtel Africa Foundation, through Airtel Nigeria, has completed the disbursement of first year funding to the first cohort of 100 beneficiaries under its flagship Airtel Africa Tech Fellowship Programme.

The initiative, which was launched to support high-performing but financially disadvantaged 100-level students studying technology-related courses in public universities, covers tuition, accommodation, stipends, and other essential materials such as laptop computers.

Each of the beneficiaries received an average of ₦500,000, making a total of ₦50 million disbursed as of May 29, 2026.  Funding will continue, the Foundation has said, through the duration of the students’ four-to-five-year academic programmes.

The 100 recipients, referred to as Airtel fellows, were selected through an independent process from accredited public universities across Nigeria and are enrolled in courses including Computer Science, Information Technology, Data Science, Software Engineering, Cybersecurity, Artificial Intelligence, among others.

Participating institutions in the first batch of the scholarship scheme are the University of Lagos (UNILAG), the University of Nigeria, Nsukka (UNN), Ahmadu Bello University (ABU), the University of Benin (UNIBEN), Obafemi Awolowo University (OAU), the University of Ilorin (UNILORIN) and Tai Solarin University of Education (TASUED).

Commenting on the milestone, Chairman of Airtel Africa Foundation, Dr. Segun Ogunsanya, said, “We are not just funding education; we are building a pipeline of skilled innovators who will contribute meaningfully to Africa’s digital economy. The transparency of this process and the full delivery of our commitment to these 100 scholars are matters of great pride for the Foundation.”

Also speaking on the progress, the Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh, noted that the initiative reflects Airtel’s long-standing commitment to empowering the youth through education and digital inclusion.

“At Airtel Nigeria, we believe that the future of our country lies in the hands of our youth. This ₦50 million disbursement is proof that when we say we are committed to empowering young Nigerians, we mean it fully and transparently. I congratulate every scholar and encourage you to make the most of this opportunity. Your success is our success,” he said.

The Airtel Fellowship Tech Fellowship forms part of the Foundation’s efforts to equip African youth with advanced digital and technical skills, within its broader F.E.E.D agenda which focuses on Financial Inclusion, Education, Environmental protection and Digital Inclusion.

Beyond financial support, the initiative is designed to equip beneficiaries with the skills, mentorship, and exposure required to thrive in an increasingly digital world.


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NDSF@17: Nigeria Must Be an “Active Architect” in Global Digital Compacts

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As the world enters a pivotal era of digital policy negotiations, the 17th Nigeria DigitalSENSE Forum (NDSF) on Internet Governance for Development (IG4D) has set a clear mandate: Nigeria must evolve from a spectator to a leader in global digital governance.

NDSF@17: Nigeria Must Be an "Active Architect" in Global Digital Compacts

R-L Delegation of the Executive Vice Chairman, Nigerian Communications Commission (NCC) led by Assistant Director, Mrs. Doyin Aiyenitaju and Mrs Olubunmi with the chairman Nigeria DigitalSENSE Forum on Internet Governance for Development (NDSF-IG4D) 2026, and Director, Strategic Business at ipNX, Dr. Olusola Teniola (hon) and Lead Convener of NDSF 2026 and Lead Convener, NDSF and Group Executive Editor, ITREALMS Media group, Ogbuefi Remmy Nweke during the event held at Welcome Centre Hotels, International Airport Road, Lagos.

In his welcome address at the forum, which convened on Thursday, June 11, 2026, at the Welcome Centre Hotels, Lagos, the Lead Convener of the NDSF and Group Executive Editor of ITREALMS Media Group, Ogbuefi Remmy Nweke, issued a rallying cry to industry stakeholders. “As the world negotiates the next phase of global digital compacts, Nigeria must not merely be a spectator; we must be an active architect,” Nweke declared.

Echoing this sentiment, the Chairman of the forum, Dr. Olusola Teniola, challenged participants to ensure that the multi-stakeholder dialogue translates into tangible progress. Emphasizing that “the ultimate measure of digital transformation is the positive impact it has on citizens and communities,” Dr. Teniola urged stakeholders to move beyond talk and commit to concrete, measurable, and actionable outcomes.

He further noted that “the complexity of today’s digital ecosystem requires stronger collaboration among government, the private sector, civil society, academia, the technical community, development partners, and users themselves” to realize the WSIS vision of an inclusive, people-centered information society.

To achieve this, Nweke emphasized the urgent need to strengthen Nigeria’s digital foundations, noting that true digital sovereignty requires robust infrastructure, including data center interconnectivity and carrier-neutral protections.

He further advocated for the expansion of Digital Public Infrastructure (DPI) to boost the .ng domain brand and support the SMEs that drive the national economy.

The forum also prioritized the empowerment of the next generation through several key initiatives:

The newly optimized Women, Youth & Students Track, which equipped attendees with cybersecurity skills through a “Phishing @ A Glance” presentation sponsored by the DNS WomenNG Foundation.

The formal adoption of the “2026 Nigerian Youth Declaration on Digital Rights” by secondary school participants, ensuring young voices are central to the policy conversation.

The launch of the 2026 National DigitalSENSE Youth Essay Competition, designed to institutionalize youth advocacy and digital rights awareness nationwide.

Nweke concluded by thanking the forum’s institutional partners, including the NCC, NITDA, ALTON, ISOC Nigeria, Digital Realty, DNS WomenNG Foundation, IHS Nigeria, and NLNG; for their commitment to the multi-stakeholder synergy necessary to bridge the digital divide.


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