We Plan to Deepen Ownership Structure in Nigeria, We Will Sell Additional 14% Stake To Nigerians – MTN


The Group President of MTN, Ralph Mupita, said on Thursday the management of the mobile network giant would sell an additional 14 percent stake in the company to Nigerians.

Mupita, according to a statement issued on Friday by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, stated this when he led the MTN delegation to his principal, Prof. Yemi Osinbajo, at the Presidential Villa, Abuja.

Also on the MTN delegation were the Chairman, MTN Nigeria, Mr. Ernest Ndukwe; and Group Chief Finance Officer, Mr. Tsholofelo Molefe.

Others were MTN Nigeria Chief Executive Officer, Mr. Karl Toriola; and Chief Corporate Services Officer, Mr. Tobechukwu Okigbo.

The MTN Group’s President revealed that the company wants to include more Nigerians in its ownership structure.

He said: “We want to deepen our ownership structure in Nigeria. We will sell another 14 percent to Nigerian individuals and institutions. We want to have the largest retail-based shareholding in Nigeria.”

In his remarks, Osinbajo charged corporate organisations operating in Nigeria to be more accountable and people-centered in their services to the citizens.

He implored them to pay greater attention to the needs of the people.

The Vice President stressed that it important for corporate organisations to show commitment to service improvement in order to build confidence in the people.

Osinbajo said: “Corporate organizations should be more accountable in their services, in the ownership structure, and also in paying attention to the needs of the people. Companies that ensure this will experience progress, as this is the right direction to go.

“Going forward, most corporate organisations will find that attaching greater importance to the people is the way to go.”


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