MTN NIGERIA STRATEGICALLY RENEGOTIATES TOWER CONTRACTS FOR COST EFFICIENCY AND SUSTAINABILITY

Rald News Media reports that In a proactive move to navigate challenges posed by forex liberalization and rising energy costs, MTN Nigeria is currently in the process of renegotiating its tower contracts. This announcement was made during the recent MTN Nigeria Capital Markets Day, where CEO Karl Toriola shed light on the company's strategic focus on periodic reviews.

Toriola emphasized the crucial role of efficient tower contracts in achieving cost-effective deep broadband penetration and maintaining technological leadership across their operations. He stated, "In our quest for achieving differentiated value, we will from time to time review the contracts we have with our partners to ensure they optimally meet our site requirements."

The renegotiation efforts come on the heels of MTN Nigeria's recent award of tower contracts to ATC and the forthcoming renewal of an additional 1,500 site contracts. Beyond efficiency considerations, Toriola highlighted the company's commitment to cost optimization, green energy utilization, and sustainability in its operations.

Modupe Kadri, MTNN’s Chief Financial Officer, provided a detailed breakdown of the company’s tower business during her presentation. This strategic move by MTN Nigeria underscores its dedication to staying ahead in the competitive telecommunications landscape while navigating economic challenges through prudent contract management and sustainability initiatives.