MTN Nigeria the largest telecommunications firm in the country has acquired an additional 10MZ spectrum in the 800MHz band from Intercellular Nigeria Limited.
The Nigerian Communications Commission (NCC) has approved the transaction and assigned the frequency to MTN Nigeria.
The acquisition will significantly improve customer experience, in line with MTN’s commitment to deliver excellent service quality, according to a statement from MTN signed by its Company Secretary Uto Ukpanah, seen by MoneyCentral.
Commenting on the acquisition, Karl Toriola, Chief Executive Officer, MTN Nigeria said, “Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country. The added resources will also greatly impact our customers’ experience providing even better internet connectivity. It is our goal to keep finding ways to grant everyone access to a modern connected life.”
MTN Nigeria Full Year 2020 audited financial statements showed an 8.5 percent increase in operating profits to N426.73 billion, as data revenues surged by 51 percent to N332.37 billion.
MTN Nigeria is one of Africa’s largest providers of communications service, connecting over 76 million people in communities across the country with each other and the world.