Airtel completes $316.7 million purchase of 5G and 4G spectrum

The Nigerian Communications Commission (NCC) has agreed to sell 5G and extra 4G spectrum to Airtel Nigeria for $316.7 million in naira.

Airtel stated that the purchases are to assist network growth for mobile data as well as fixed wireless home broadband capacity in a statement that was issued on the Nigerian Exchange on Monday and was signed by Simon O’Hara, the Group Company Secretary.

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.

“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.

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.”