Business
MTN Closes Stores Across Nigeria After Subscriber Outrage
Telecom giant MTN has decided to shut down all its stores and service centers across Nigeria today in response to significant subscriber backlash.
This action follows a controversial decision made on Sunday, when MTN suspended services for users due to inconsistencies between their National Identification Number and SIM registration details.
The situation escalated dramatically when a viral video emerged showing a mob attacking an MTN office in FESTAC Town, Lagos.
The video depicted the crowd vandalizing the office and damaging barricades outside the building, a reaction triggered by the network’s decision to block affected lines.
In response to the unrest, Lagos State Police Public Relations Officer Benjamin Hundeyin confirmed that order had been restored by the local police, specifically the FESTAC Division Police Officer and his team.
Today, MTN has announced a nationwide closure of all its retail outlets and service centers.
The company issued a statement to customers saying, “Dear customers, please be advised that all our shops nationwide will remain closed today, July 30, 2024.”
This move reflects the company’s effort to manage the situation and ensure safety amid ongoing disturbances.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
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