NCC: MTN Nigeria Secures Spectrum Lease Transaction for Improved 3G and 4G Coverage Across 19 States”

The Nigerian Communications Commission (NCC) has approved a spectrum lease transaction between MTN Nigeria and Natcom Development and Investment Limited (NTEL).

The lease transaction allows MTN Nigeria to lease two spectrums, 5HMz Frequency Division Duplex and 10HMz FDD, covering 19 states in Nigeria.

The transaction cost MTN Nigeria N4.25 billion and includes taxes, regulatory fees, and auxiliary charges as transaction costs.

The spectrum lease is for a period of two years starting from May 1, 2023. Karl Toriola, the Chief Executive Officer of MTN Nigeria, expressed his satisfaction with the spectrum lease, stating that it broadens the company’s spectrum holdings and improves its 3G and 4G user experience as coverage and capacity will be enhanced by utilizing these spectrums.