Nigerian telecom operator MegaTech Networks revealed its intent of pumping in an investment of $500 million to the new CDMA network that the company is launching across 23 states of the country.

Adverting to the national roll out of the network, chairman of the company, Alhaji Aliyu Abubakar said the company is looking for an outside investor to support in financing the network rollout.

Earlier last year, it had awarded a $100 million contract with China''s ZTE for network infrastructure supplies. Services are expected to be launched before the middle of this year.

The company has recently received a Unified Access Licence from the Nigerian Communications Commission (NCC), which includes support for 3G services.

According to a recent study from Pyramid, Nigeria has been named as the continent’s largest mobile telecom market with over 61 million mobile subscribers.