On Tuesday, the Nigerian Communications Commission approved a lease of spectrum to MTN Nigeria from Natcom Development and Investment Limited.
The deal, which affects 19 states across the nation, enables the telecommunications provider to lease two spectrums from NTEL: 5HMz Frequency Division Duplex and 10HMz FDD.
According to Nairametrics, the purchase cost MTN Nigeria N4.25 billion and included taxes, regulatory fees, and auxiliary expenses. The spectrum lease is for a two-year period beginning May 1, 2023.
Karl Toriola, the CEO of MTN Nigeria, commented on the accomplishment by saying, “This is a key milestone in fulfilling our Ambition 2025 objective.
The utilization of NTEL’s 1800MHz and 90OMHz spectrums will increase coverage and capacity, which broadens our spectrum holdings and enhances the 3G and 4G user experience.
