The Nigerian Communications Commission (NCC) has approved the renewal of the spectrum lease agreement between MTN Nigeria Communications Plc and Natcom Development and Investment Limited (NTEL).
The new agreement now includes coverage in all states including the Federal Capital Territory (FCT). The agreement covers the lease of NTEL’s 5MHz frequency division duplex (FDD) in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band, which spans 19 states.
According to an update on the Nigeria Stock Exchange (NGX), MTN, with 80.38 million subscribers, noted that the renewal is for another two years, effective 1 May 2025.
It stated that the regulator approved a one-year lease expansion of the spectrums, covering the remaining 17 states and the FCT, effective January 1, 2025.
MTNN’s Chief Executive Officer, Karl Toriola, said: “We are pleased with the renewal of the spectrum…
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