The World Bank has provided $79 million - that is, about N11.8 billion - financing for IHS Plc, one of Nigeria's leading telecommunications infrastructure providers, to help it develop mobile phone coverage infrastructure across the country.
The fund, which is coming through International Finance Corporation (IFC), the private sector arm of the World Bank, would enhance IHS's efforts to build and acquire mobile phone towers in Nigeria and sub-Saharan Africa, thereby reducing communications cost across the region.