MTN Nigeria is given permission by the Nigerian Communications Commission to lease spectrum from Natcom Development and Investment Limited.
The deal, which affects 19 states nationwide, enables the telecommunications business to lease two spectrums from NTEL: the 5HMz and 10HMz frequency division duplex bands.
According to Nairametrics, the spectrum lease is for a two-year period beginning May 1, 2023, and the transaction cost MTN Nigeria N4.25 billion. It also includes taxes, regulatory fees, and auxiliary charges as transaction costs.
MTN Nigeria’s Chief Executive Officer, Karl Toriola, commented on the achievement by saying, “This is a significant milestone in delivering our Ambition 2025 strategy. The use of NTEL’s 1800MHz and 90OMHz spectrums expands our spectrum holdings and enhances the 3G and 4G user experience as a result of the increased coverage”.