Airtel joins MTN, Mafab, completes acquisition of 5G spectrum

Airtel Nigeria has announced the acquisition of 5G and an additional 4G spectrum from the Nigerian Communications Commission (NCC) for $316.7 million to be paid in naira.

In a statement posted on the Nigerian Exchange on Monday, and signed by Simon O’Hara the Group Company Secretary, Airtel said the purchases are to support network development for mobile data as well as fixed wireless home broadband capability.

Recall that Airtel was the only telecommunication firm willing to pay for the 5G spectrum auction by NCC in December 2022.

Speaking on this acquisition, the telecommunication company in a statement said, it had “purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from NCC, for a gross consideration of $316.7m, payable in local currency.

READ ALSO: 2022: Airtel outperforms MTN Nigeria in battle for investors

“This additional spectrum will support our investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.

“The deployment of 5G will accelerate the availability and efficiency of fixed wireless access products across the country”

Also, Segun Ogunsanya, CEO of Airtel Africa expressed excitement about what the future holds for the company.

He said: “Nigeria is a market with enormous potential for future growth in mobile services.

“Investment in new technologies and local infrastructure to enable this growth is a strategic priority for the Group and will ensure we are able to provide reliable and affordable services to local communities across the country.

“5G is critical to these ambitions, and we look forward to launching new services to drive further digitalisation across the country, facilitate economic progress and transform lives across Nigeria.”