The Nigerian Communications Commission (NCC) has approved MTN Nigeria Communications Plc’s deal with Natcom Development and Investment Limited (NTEL) to renew their spectrum lease agreement.
According to a notice posted on the Nigeria Exchange Limited on Tuesday by the company secretary, Uto Ukpanah, the deal covers NTEL’s 10MHz FDD in the 1800MHz spectrum band and 5MHz frequency division duplex in the 900MHz spectrum band in 19 states. The two-year renewal will become operative on May 1, 2025.
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“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.”
A one-year lease extension of the spectrums to include the remaining 17 states and the Federal Capital Territory was also approved by the NCC, effective January 1, 2025.
“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,” the statement reads.
MTN Nigeria pleased with the spectrum lease agreement renewal with NTEL
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MTN Nigeria’s Chief Executive Officer, 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,” he added.
This was revealed by MTN Nigeria in a regulatory file with the Nigerian Exchange Limited, which was signed by Uto Ukpanah, the company secretary.
