Airtel Nigeria Considers $70m Spectrum For Improved LTE Services
22 November 2019
Airtel Africa Plc has announced a proposed acquisition of an extra 10 MHz spectrum in the 900 MHZ band in Nigeria which is said to cost approximately $70 million.
The agreement was signed between Airtel Nigeria and Intercellular Nigeria Limited but is pending regulatory approval by the Nigerian Communications Commission (NCC).
In a notice to the Nigerian Stock Exchange (NSE), Airtel Africa said the $70 million valuation for the spectrum excludes fees to be collected by the NCC in accordance with the NCC Spectrum Trading Guidelines.
Explaining a significant benefit of this deal, Airtel Africa, said that the acquisition of this additional spectrum would allow Airtel Nigeria to strengthen and expand its LTE network across Nigeria.
The CEO of Airtel Africa, Raghunath Mandava, said that the acquisition of this spectrum would enable Airtel to further deliver on its growth opportunity and continue to offer its Nigerian subscribers an improved user experience.
Nigeria is Airtel Africa’s largest market and the revenue generated by Airtel Nigeria increased by 23 percent in the first six months of this year with data growth being the largest contributor.