Nigeria's leading telecommunications company, MTN Nigeria Communications Plc, has acquired another spectrum to further deepen broadband in Nigeria.
The 2.6GHz acquired by MTN was obtained from OpenSkys Services Limited. This announcement was made on Tuesday in the regulatory disclosure filed with the Nigerian Exchange (NGX) Limited.
Also, MTN said that it has gotten approval from the Nigerian Communications Commission (NCC) to take over the 10MHz frequency division duplex (FDD).
However, MTN did not say the price at which it acquired the spectrum. The company just stated that they would operate the facility for 10 years and would need to renew it by 2033.
MTN said,
- It is the ideal complement to the 700 MHz–800 MHz spectrum bands, which can help provide the most cost-effective nationwide coverage of mobile broadband services across both rural and urban areas.
- Broadband penetration in Nigeria stood at 47.36 per cent as of December 2022. The federal government of Nigeria has a target of 70 per cent broadband penetration by 2025.