MTN Nigeria Communications PLC (MTN Nigeria) has notified the Nigerian Exchange Limited and the investing public that the Nigerian Communications Commission (NCC) has approved the renewal of the spectrum lease agreement between MTN Nigeria and Natcom Development and Investment Limited (NTEL).
This was disclosed in a Press statement signed by the Company Secretary, Uto Ukpanah FCIS
This agreement covers the lease of NTEL’s 5MHz frequency division duplex (FDD) 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 1 May 2025.
Additionally, the NCC has approved a one-year lease expansion of the spectrums, covering the remaining 17 states and the Federal Capital Territory (FCT), effective 1 January 2025.
Commenting on the transactions, MTN Nigeria CEO Karl Toriola said: “We are pleased with the renewal of the spectrum lease agreement with NTEL, which now includes coverage for all states, including the FCT. 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.”
