The Nigerian Communications Commission (NCC) has approved the renewal of the spectrum lease agreement between MTN Nigeria Communications PLC (MTN Nigeria) and Natcom Development and Investment Limited (NTEL).
BusinessDay states that this new agreement now includes coverage in all states including the FCT. This agreement covers the lease of NTEL’s 5MHz frequency division duplex (FDD) in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band, which spans 19 states.
According to an update on the Nigeria Stock Exchange on Tuesday, MTN, with 80.38 million subscribers, noted that the renewal is for another two years, effective 1 May 2025. It stated that the regulator approved a one-year lease expansion of the spectrums, covering the remaining 17 states and the Federal Capital Territory (FCT), effective January 1, 2025.
