Airtel Africa says its Nigerian subsidiary, Airtel Networks Ltd., has acquired 4G and 5G Spectrum from the Nigerian Communications Commission (NCC).
The spectrum, it said, was worth 316.7 million dollars, payable in Naira.
The communication provider disclosed this in a corporate disclosure made available to the Nigerian Exchange Ltd. 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.
“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.
“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,” it added.
Commenting on the development, Mr. Segun Ogunsanya, Chief Executive Officer (CEO) Airtel Africa, said Nigeria remained a market with enormous potential for future growth in mobile services.
“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,” he said.