Business

MTN spreads net, secures 2.6GHz licence for N19bn

Published

8 years ago

June 30, 2016

MTN spreads net, secures 2.6GHz licence for N19bn

Telecommunications giant, MTN Nigeria, Wednesday, emerged winner of the 2.6 GHz frequency spectrum auction by the industry regulator, Nigerian Communications Commission (NCC).

MTN was adjudged the winner of the 10-year radio spectrum licence for mobile broadband services after the NCC earlier announced that MTN emerged as the sole approved bidder for the new licence.

According to reports, the spectrum guarantees superior performance for wireless networks, especially fourth-generation (4G)/long-term evolution (LTE) services.

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Confirming the development, MTN said it complied with the provision of the bid agreement for the 2.6 GHz auction, paid N18.96-billion to the NCC and had subsequently been issued a letter of award.

Ferdi Moolman, MTN Nigeria’s Chief Executive Officer, said in a statement on Wednesday, that ‘‘With the 2.6 GHz band, we expect to roll out and provide the full range of LTE (Long Term Evolution mobile broadband) services to Nigerians, empowering Nigeria with the latest mobile broadband technology.

“This licence acquisition further demonstrates MTN’s abiding faith in the future of Nigeria and the resilience of the Nigerian economy,” said Moolman.

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