MTN Nigeria, a leading telecommunications provider in Nigeria, announced the approval of a spectrum lease transaction by the Nigerian Communications Commission (NCC).
This transaction involves a lease agreement between MTN Nigeria and Natcom Development and Investment Limited (NTEL) for the lease of NTEL's 5 MHz Frequency Division Duplex (FDD) in the 900 MHz spectrum band and 10 MHz FDD in the 1800 MHz spectrum band across 19 states, according to an exchange filing.
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The lease, effective from May 1st, 2023, will span two years and cost NGN 4.25 billion, inclusive of taxes, regulatory fees, and ancillary charges.
Renewal of 2100MHz Spectrum License
In addition to the spectrum lease, MTN Nigeria has also accepted the NCC's offer to renew its 2100 MHz spectrum license for a 15-year period, commencing from May 1st, 2022 to April 30th, 2037. To secure this spectrum renewal, MTN Nigeria has paid NGN 58.66 billion to the NCC. The 2100 MHz spectrum license is crucial for providing 3G mobile services across the network.
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Enhancing Network Capabilities for Improved User Experience
According to the statement, MTN Nigeria expressed delight over these significant transactions, stating that they mark a major milestone in achieving the company's Ambition 2025 strategy. The access to NTEL's 900MHz and 1800MHz spectrums will expand MTN Nigeria's spectrum holdings and enhance the user experience of its 3G and 4G services. The increased coverage and capacity resulting from these spectrums will contribute to improved connectivity for MTN Nigeria's 76 million customers, connecting communities across the country and beyond.
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MTN Nigeria's Commitment to Quality Telecommunication Services
MTN Nigeria is part of the MTN Group, a multinational telecommunications company operating in 19 countries across Africa and the Middle East. The spectrum lease and renewal demonstrate MTN Nigeria's commitment to continuously invest in expanding its network capabilities and delivering high-quality services to its customers.
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With these strategic acquisitions, MTN Nigeria is well-positioned to enhance its network coverage and meet the increasing demand for reliable and high-speed connectivity in Nigeria.