MTN’s request for the lease of spectrum from the Natcom Development and investment Limited on Tuesday received the nod of the Nigerian Communications Commission, NewsSpecng learnt.
The transaction cost MTN Nigeria N4.25 billion, which includes taxes, regulatory fees, and auxiliary charges.
The lease period is two years, commencing May 1, 2023, according to Nairametrics reports.
The transaction permits the telecommunication company to lease two spectrums – 5HMz Frequency Division Duplex and 10HMz FDD from NTEL.
The transaction, it was also gathered, covers 19 states in the country.
The Chief Executive Officer of MTN Nigeria, Karl Toriola described the transaction as a significant milestone.
Toriola said it would help in actualisation of its ambitious 2025 strategy.
He 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.”
