The Honourable Minister of Science and Technology has said that the proposal to list MTN in the Nigerian Stock Exchange will foster good business for MTN Nigeria as well as boost the Nigerian economy.
This indication was made today in Abuja by the Honourable Minister of Science and Technology Dr Ogbonnaya Onu, when the delegation from MTN Nigeria Communications Limited paid him a courtesy call in his office.
Dr Onu said that MTN Nigeria with 62 million subscribers have played a dominant role in the telecommunication industry in Nigeria and has contributed to our economy.
He further stated that MTN is building a closer relationship between Nigeria and South Africa, and it very important that in the spirit of the Africa Union that African Countries ought to work together with one another so that we can effectively utilise the natural resources embedded in Africa.
He said that over the century all developed countries come to source for raw materials in Africa. Moreover, as at today, 80 % of developed countries rely on African raw materials and it will be important for Africa to develop the appropriate technology and utilise this technology for our common good.
The Minster, in his address stated that the Federal Ministry of Science and Technology will support this very important stake and also study in details the proposal and make our views known to MTN.
He reiterated that the Federal Ministry of Science and Technology is committed in working to redirect the Nigerian economy from a resource-based economy to a knowledge-based economy.
The Minister said that there is a need for MTN group to carry out research and developmental work that will come up with innovations in Nigeria to support the MTN group. He also called for them to be competitive with the best in the world.
He added that Nigeria should be the leading market because of the population it has and that MTN should tap into the huge human capital Nigeria is endowed with.
In his opening, address the leader of the delegation Mr Kholekile Ndamese, Deputy Head Mergers Acquisition MTN Nigeria Communications Limited, informed the minister that MTN was listing the company in the Nigerian Capital Market as one of the largest markets in the continent.
He also intimated the Minister that the listing will showcase Nigeria in the global spotlight. In addition, he said that MTN group has structured the listing as a give- back project for its teeming customers in Nigeria, which is broad –based and inclusive in nature.
Asst Chief Information Officer