According to the firm, the updated contracts feature new financial terms, providing a more sustainable balance between local and foreign currency, as well as a diesel-linked component.
“Under the new terms, there is a dollar component that will continue to benefit from annual escalators linked to the US Consumer Price Index, a naira component that will benefit from escalators linked to the Nigerian Consumer Price Index, and a new component indexed to the cost of providing diesel power, introduced to act as a hedge against diesel prices and FX fluctuations,” the statement highlighted.
The Chairman and CEO, IHS Towers, Sam Darwish, said, “We are delighted to announce the renewal and extension of our agreement with our largest customer, MTN Nigeria.
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