Business
MTN Hails NCC Over Spectrum Lease Renewal
MTN Nigeria has expressed gratitude to the Nigerian Communications Commission (NCC) for approving the renewal of its spectrum lease agreement with Natcom Development and Investment Limited (NTEL).
According to the company, the approval will significantly enhance its 3G and 4G network services, benefiting customers nationwide.
In a statement filed with the Nigerian Exchange Limited by MTN’s company secretary, Uto Ukpanah, the company confirmed the NCC’s approval. The agreement involves NTEL’s 5MHz frequency division duplex in the 900MHz band and 10MHz FDD in the 1800MHz band, covering 19 states. The lease renewal is set for two years, starting May 1, 2025.
The statement read: “MTN Nigeria Communications PLC hereby notifies the 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 an additional announcement, MTN Nigeria’s Chief Executive Officer, Karl Toriola, revealed that the NCC has also approved a one-year lease expansion. This extension will cover the remaining 17 states and the Federal Capital Territory, effective January 1, 2025.
Toriola explained, “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 emphasized the benefits of the agreement, stating, “The lease enables us to enhance our 3G and 4G user experience as we improve coverage and capacity by utilizing the spectrums. This positions us to capitalize on the growing demand for data and improve the delivery of services to our customers.”
MTN Nigeria remains committed to expanding its network and providing quality services to meet the increasing demand for data and connectivity across the country.
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