Telecommunications giant MTN, has said it will double its capital spending in Nigeria, shortly after agreeing to pay a heavily reduced penalty to settle a regulatory dispute with the west African country.

The Africa’s biggest mobile operator said, “after months of talks, that it had agreed to pay a heavily reduced fine of $1.7 billion, or a third of the initial penalty, in a settlement with Nigeria for missing a deadline to deactivate more than 5 million unregistered SIM cards”.

MTN which is the largest mobile phone operator in Nigeria has 57 million subscribers, and the country accounts for about a third of its revenue.