News

January 10, 2024

Tinubu’s FX policy makes planning easier – Airtel boss, Ogunsanya

Tinubu’s FX policy makes planning easier – Airtel boss, Ogunsanya

File image

By Johnbosco Agbakwuru

ABUJA THE Chief Executive Officer of Airtel Africa, Segun Ogunsanya, on Wednesday said that President Bola Tinubu’s foreign exchange policy has made planning easier for businesses in the country.

Ogunsanya also said that the network provider’s data center will be one of the largest data center in Africa; and will serve all the multinationals in the country.

The Airtel boss stated this while speaking with State House correspondents after meeting with the President at the Presidential Villa, yesterday.

Fielding questions on the President’s policy since he took over power, he said “We had massive issues with liquidity FX; we still have some issues with FX liquidity, but at least slightly more predictable than it was a couple of months ago. It makes it easier for us to do better planning.

“We’re not out of the woods yet, but we can see light at the end of the tunnel.”

Ogunsanya, who said he was billed to retire in six months, also disclosed that his company was planning to set up a data center in the country.

According to him, “The data center will be one of the largest data center in Africa; ,it is going to serve all the multinationals in the country. So it’s going to serve some of the Foreign countries. Certainly it is going to be one of the largest in Africa.

“Though airtel is yet to do final budgeting but we’ve got the land; we’ve got the consultants, and we’re going to break ground very soon.”

Asked on what the President told him, he said “The President said Nigerians should expect the best from this government.”

On the challenges facing the company, he said “Some challenges that we are working on. What I think, there is going to be light at the end of the tunnel.”