MTN Nigeria is the winner in the auction process for a 10-year frequency spectrum licence for the 2.6GHz band.
According to the Nigeria Communication Commission (NCC), MTN’s bid was in full compliance with the relevant provisions of the Information Memorandum (IM) for the exercise in which MTN emerged as sole approved bidder.
The award comes after the company announced earlier its intention to invest heavily in 2017, substantially as it invests R11.1bn in upgrading and expanding its wireless and fixed-line network in that country.
CEO of MTN Nigeria, Ferdi Moolman said the acquisition of the 2.6Hz will be used to deploy super fast, long term evolution wireless networks in the country
“This means that they will have fast access to high definition video streaming, as well as conferencing and calling, lag-free music streaming, and improved data uploads and downloads,” he said in a statement.
“This licence acquisition further demonstrates MTN’s abiding faith in the future of Nigeria and the resilience of the Nigerian economy.”
He said MTN paid N18.96bn to the NCC for the licence.
MTN is the largest mobile phone operator in Nigeria with 57 million subscribers, and the country accounts for about a third of its revenues.