Chairman of Bharti Airtel Worldwide Mr Sunil Bharti Mittal, on Monday met with President Bola Tinubu at the Presidential Villa, Abuja.
Speaking to State House correspondents at the
end of the meeting, Mittal said that the decision by Tinubu’s government to
float the naira will now unleash foreign investments in the country.
The Airtel boss, who was accompanied by Dr
Segun Ogunsanya, Chief Executive Officer of Airtel Nigeria, lauded the president,
particularly for making foreign exchange easier to access.
He noted with regret that the lack of easy
access to foreign exchange had prevented the company from importing critical
equipment needed for its operation in the country.
According to him, the worldwide market has
applauded naira devaluation and investors are now ready to come into the
country.
While noting that Airtel had made just under
$4 billion investment since coming into Nigeria, he affirmed that the company
would roll out its 5G services and as well revealed that it would be making an
additional investment of $700 million in the next two years.
Mittal stated: “We’re already investing about
$400 million a year, which has been going on for the last many years. That will
of course continue. That is business as usual.
“On top of that, to roll out the 5G and more
fibre into the ground and data centres will require more $700 million to get to
that outcome.
“So, while there is no exact number, I can
give you, all I can tell you is $400 million is what we generally invest every
year.
“With 5G, the investment is only going to go
up for the next two or three years, before it comes back to the same $350, $450
million a year.
“We have invested just under $4 billion since
the time we have come into Nigeria.”
He said that Nigeria is very key in Africa,
stressing that if there is any country to be an economic power house, it’s
Nigeria.
He said without Nigeria, African strategy
will not work.
Mittal said he requested the meeting with the
President in order to talk about Airtel and India and that he was touched by
the speed and clarity of mind the President has exhibited within a short time.
“We have given a standing ovation to the
floating of the dollar,” he said, adding that he saw a President that was
deeply committed to removing poverty in the country.
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