MTN Nigeria has agreed to a N4.25 billion spectrum deal with Natcom Development and Investment Limited (NTEL).
Details of the deal showed MTN paid N4.25 billion to lease NTEL’s 5MHz Frequency Division Duplex (FDD) in the 900MHz spectrum band and 10MHz FDD in the 1800MHz spectrum band covering 19 states.
MTN will have access to the spectrum for two years, effective from May 1, 2023, according to a statement dated May 8, 2023, which was released to the capital market authority, Nigerian Exchange Limited (NGX), on Tuesday.
