Airtel Africa says its Nigerian subsidiary, Airtel Networks Limited, has acquired 4G and 5G Spectrum from the Nigerian Communications Commission.
According to Airtel Africa, the spectrum it acquired from
the NCC is worth $316.7 million, which is payable in Naira.
The communication provider disclosed this in a corporate
disclosure made available to the Nigerian Exchange Limited on Monday.
According to Airtel Africa, the additional spectrum will
support the company’s investments in network expansion for both mobile data and
fixed wireless home broadband capability, including 5G rollout.
It said the spectrum would provide significant capacity to
accommodate its continued strong data growth in the country and exceptional
customer experience.
It said: “Airtel Nigeria is Airtel Africa’s largest market,
with significant growth potential.
“The company led the industry in providing affordable 4G
services across the country, following
the deployment of a fully modernised network which facilitated a 4-fold
increase in data traffic over the last three years.
“The penetration of data customers in Nigeria remains low,
providing significant opportunity for future growth.
“The acquisition of 5G spectrum will underpin our growth
strategy by enabling the launch of higher speed connectivity to enhance
customer service and accelerate digitalisation for consumers, enterprises and
the public sector.”
The telecommunications provider also said that key benefits
of 5G would include higher speeds, lower latency, significant network capacity
as well as an improved user experience.
It added: “Furthermore, the deployment of 5G will accelerate
the availability and efficiency of fixed wireless access products across the
country, contributing toward Airtel Nigeria’s progress in meeting the National
Broadband Plan targets.
“The acquisition of 2600MHz spectrum will complement our
already strong spectrum position in the market to enhance network capacity and
future-proof our growth opportunity.”
Commenting on the development, Segun Ogunsanya, Chief
Executive Officer, Airtel Africa, said Nigeria remained a market with enormous
potential for future growth in mobile services.
Ogunsanya said: “Investments 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.”
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