The Nigerian Communications Commission (NCC) on Tuesday approved a spectrum lease transaction from Natcom Development and Investment Limited for MTN Nigeria. The transaction permits the telecommunication company to lease two spectrums – 5HMz Frequency Division Duplex and 10HMz FDD from NTEL, covering 19 states across the country.
The transaction cost MTN Nigeria N4.25 billion, which includes taxes, regulatory fees, and auxiliary charges. The spectrum lease is for a two-year period starting May 1, 2023, according to Nairametrics.
MTN Nigeria’s Chief Executive Officer, Karl Toriola, commented on the development, saying, “This is a significant milestone in delivering our Ambition 2025 strategy. Access to NTEL’s 900MHz and 1800MHz spectrums broadens our spectrum holdings and improves our 3G and 4G user experience as coverage and capacity will be enhanced by utilizing these spectrums.”
