The recent approval granted by the telecom regulator, the Nigerian Communications Commission (NCC) for a spectrum lease transaction for a 2-year period, starting May 1st, 2023 between MTN Nigeria (MTNN) and Natcom Development and Investment Limited (NTEL), has been described by the CEO, Karl Toriola as a strategic milestone to the delivery of MTN’s Ambition 2025 in Nigeria.
Preliminary details show that the lease would among other things, enable MTN Nigeria to lease two spectrums from NTEL (5HMz Frequency Division Duplex and 10HMz FDD) which cover 19 states in the country.
By a corporate notice by the telco, the transaction will cost it N4.25 billion, including taxes, regulatory fees, and auxiliary charges.
However, giving a clear insight on the new deal, MTN Nigeria’s Chief Executive Officer, Mr. Karl Toriola, described the regulatory approvals as a milestone in the company’s Ambition 2025 Strategy.
According to him, “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.”
The ‘Ambition 2025’ strategy, which is built on four key strategic priorities, aims to accelerate the telco’s long-term business growth in Nigeria while leveraging emerging opportunities.
The MTN’s current and future projects are anchored on the strategy as it continues moves to create leading digital platforms for Africa’s progress and providing the critical tools to ensure the connectivity to access the immense opportunities.
The MTNN further disclosed that the NCC had also renewed its 2100MHz spectrum with the payment of N58.66 billion to the telecom industry regulator for a period of 15 years, effective from 1 May 2022 to 30 April 2037, to enable it to continue to provide 3G services on its network.
