By James Olayinka
MTN Nigeria has paid N62.91 billion to the Nigerian Communications Commission (NCC) for the renewal of its licence and the lease of Natcom Development and Investment Limited’s (NTEL) spectrum.
MTN Nigeria said the approval to lease the NTEL spectrum was for a 2-year period, effective from May 1, 2023.
The deal enables the telecom company to lease two spectrums from NTEL (5HMz Frequency Division Duplex and 10HMz FDD) which cover 19 states in Nigeria.
RELATED STORIES
Related Posts
The transaction cost the company N4.25 billion, which include taxes, regulatory fees, and auxiliary charges.
The company, in a statement issued recently by its secretary, Uto Ukpanah, noted that it has also renewed its 2100MHz spectrum for a period of 15 years, effective from May 1, 2022, to April 30, 2037.
Ukpanah, who stated that the spectrum enables MTN Nigeria to continue to provide 3G services on its network, disclosed that the telecom company has paid N58.66 billion to the NCC.
Speaking on the development, MTN Nigeria CEO, Karl Toriola, said: “This is a significant milestone in delivering our Ambition 2025 strategy.
“The access to NTEL’S 90OMHz and 1800MHz spectrums broadens our spectrum holdings and improves our 3G and 4G user experience as coverage and capacity will be enhanced by utilising these spectrums.”
