MTN Nigeria, the largest telecommunication company in the country, has renewed its operating spectrum and services licenses for another 10 years starting from September 1, the telecom giant said in a statement on Wednesday.
After paying about N72 billion, the company announced that the Nigerian Communication Commission (NCC) has granted formally notified the successful renewal of its Unified Access Service license and spectrum license for wireless local loop in the 900MHz and 1800MH bands.
The telecom company hints that the license is subjected to an undisclosed amount under discussion with the Nigerian government.
MTN said it paid N71.6 billion which NCC acknowledged for the spectrum license and N374.6 million for the unified access service license, which underpins its data network and telecom coverage in Africa’s biggest economy.
Recently, the telecom giant revealed plans to invest N600 billion over the next three years to expand broadband access in Africa’s most populous country and is boosting its 4G coverage to provide home broadband as part of a rural connectivity program.
MTN Nigeria Chief Executive Karl Toriola said, “Renewing our licenses for another ten years is very important to our business and enables us to continue to provide services to ensure the benefit of modern connected life for our people”.
He added that MTN Nigeria is delighted with its strong partnership with NCC and looks forward to working closely with the commission and the Ministry of Communication and Digital Economy to accelerate the growth of Nigeria’s digital economy.