GSM networks to offer 30% ownership to Nigerians

GSM networks to offer 30% ownership to Nigerians

GSM networks to offer 30% ownership to Nigerians

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Plans are underway to make the nation’s biggest mobile phone companies using the Global Satellite Mobile Telecommunications (GSM) technology, the leading standard used worldwide for delivering mobile telephony, to cede 30 per cent shareholding in their businesses to the people of Nigeria.

The privately-owned ‘Big Four’ GSM networks, MTN Nigeria, Globacom, Airtel Nigeria and Etisalat Nigeria, account for 98.12% of total active connections with 172,913,989 out of the 177,319,310 lines recorded in the Nigerian telecoms market as at April, this year.

The ‘Big Four’ also account for the biggest customer base in Nigeria as follows: MTN Nigeria (58,355,855); Airtel Nigeria (25,475,672); Globacom (24,015,713) and Etisalat Nigeria (19,111,664) as at April, this year.

Technology Times checks reveal that if the prayers of a Federal lawmaker are answered by the National Assembly, the privately-owned GSM networks would be compelled by law to cede 30% share capital in their businesses to Nigerians.

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