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JOHANNESBURG, Jan 30 (Reuters) - Telecommunications firm MTN
Group MTNJ.J will invest $1.6 billion in Nigeria, the company
said, after it resolved a major legal case with the government
in its biggest market.
Earlier this month, Nigeria's attorney general said he had
withdrawn a $2 billion tax demand against MTN, bringing to a
close the company's latest disagreement with the government.
The South African firm has for years been dogged by legal
woes in Nigeria as the government has sought billions of dollars
for various alleged infractions.
In a statement issued late on Wednesday, the company said it
now planned to invest $1.6 billion, or roughly 580 billion
naira, over three years in its network and operations in
Nigeria.
"We are fully aligned with the strategic agenda of the
Nigerian government and are committed to strengthening the
digital economy of the country," said MTN Chairman Mcebisi Jonas
in the statement.
Investors have said the legal rows with MTN have damaged the
West African country's appeal, despite it having the largest
economy and population on the continent.
(Reporting Olivia Kumwenda in Johannesburg, writing by Libby
George; editing by David Evans and Elaine Hardcastle)