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MTN Nigeria has said that the lease revenue approved by the Nigerian Communications Commission for the spectrum lease agreement between MTN Nigeria Communications Plc and Natcom Development and Investment Limited will improve its 4th generation and 3rd generation services.
Recall that MTN in a regulatory filling by the company secretary, Uto Ukpanah, on the Nigeria Exchange Limited announced the approval.
He said the deal covers NTEL’s 5MHz frequency division duplex in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band across 19 states.
The renewal is for two years and will take effect from May 1, 2025.
“MTN Nigeria Communications PLC hereby notifies Nigerian Exchange Limited and the investing public that the Nigerian Communications Commission has approved the renewal of the spectrum lease agreement between MTN Nigeria and Natcom Development and Investment Limited.”
In a fresh remark by MTN Nigeria’s Chief Executive Officer, Karl Toriola, the CEO said the NCC approved a one-year lease expansion of the spectrums to cover the remaining 17 states and the Federal Capital Territory, effective January 1, 2025.
Toriola explained that “This agreement covers the lease of NTEL’s 5MHz frequency division duplex in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band, which spans 19 states.
“The renewal is for another two-year period, effective May 1, 2025.”
He further explained that the lease would enhance the 3G and 4G experience of customers.
The CEO added, “The lease enables us to enhance our 3G and 4G user experience as we improve coverage and capacity by utilising the spectrums. This positions us to capitalise on the growing demand for data and improve the delivery of services to our customers.”
