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    Suspected herdsmen ambush Benue policemen, kill DPO

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    Nigerians will soon know the “actual truth” about Atiku – Gov Wike

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    PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

    Security features of the new naira notes revealed by the CBN

    DSS intercepts syndicates selling new naira notes, bank officials implicated

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

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    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
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    • Cryptocurrencies
    • Forex
    • Rates & Bonds
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    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

    MTN Nigeria Communications Plc announces Board Meeting and close period for Q1 2021

    MTN Nigeria set to allot ‘incentive shares’ to shareholders

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    Directors of Geregu Power Plc approve dividend declaration for 2022 FY

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    Building a Successful Business Organization: Lessons from the Bible

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    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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Airtel Nigeria acquires 4G and 5G Spectrum

Monday, 9 January 2023, 12:09 pm
in Business, Companies
0
Airtel receives $159m as first payment for its Tanzanian towers
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Airtel Africa Plc (NGX: AIRTELAFRI) has announced that its Nigerian subsidiary, Airtel Networks Limited (‘Airtel Nigeria’), has purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigerian Communications Commission (NCC) for a gross consideration of $316.7m, payable in local currency.

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The additional spectrum according to Airtel’s corporate release seen by Investogist, will support its investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country and exceptional customer experience.

Airtel Nigeria had in December 2021 missed out to be amongst the first set of telcos to launch 5G network to their subscribers, when it pulled out of the first 5G spectrum auction.

MTN Nigeria Telecommunications Plc (NGX: MTNN) who emerged as one of the winners of the 5G spectrum auction in December 2021 alongside MAFAB Communications Limited, has since launched 5G in Lagos, Abuja, Port Harcourt, Ibadan, Kano, Owerri and Maiduguri.

Commenting on the acquisition, Segun Ogunsanya, CEO of Airtel Africa said;

“Nigeria is a market with enormous potential for future growth in mobile services. Investment 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.”

Higher speeds, lower latency, significant network capacity as well as improved user experience are some of the key benefits of 5G, Airtel stated.

Airtel fully deployed a 4G services across Nigeria, via a modernized network over the last three years.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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  • Airtel Africa announces Kenya Spectrum acquistion
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