NCC approves additional spectrum for MTN Nigeria

NCC approves additional spectrum for MTN Nigeria

• As telco pledges excellent QoS for customers

MTN Nigeria has announced the acquisition of additional 10MHz spectrum in the 800MHz band from Intercellular Nigeria Limited.

In a filling at the Nigerian Stock Exchange (NSE) on Friday, the African telecoms giant said Nigerian telecoms industry regulator, the Nigerian Communications Commission (NCC) has approved the transaction and assigned the frequency to MTN Nigeria.

MTN explained through the corporate disclosure that the acquisition will significantly improve customer experience, in line with its commitment to deliver excellent service quality to its subscribers.

Karl Toriola, the chief executive officer of MTN Nigeria who assumed office on March 1, 2020, said the acquisition of fresh spectrum will significantly improve customer experience.

“Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country. The added resources will also greatly impact our customers’ experience providing even better internet connectivity. It is our goal to keep finding ways to grant everyone access to a modern connected life.” Toriola addressed.

The telco had recently reported a very strong set of operational and financial results for 2020, displaying business resilience under COVID-19 pressures and a challenging macroeconomic environment.

MTN Nigeria posted a profit before tax of N298.874 billion relative to N291.277 billion recorded in the previous year.

After fulfilling tax obligations amounting to N93.660 billion (higher than N87.994 billion paid in taxes in 2019), MTN settled profit after tax (PAT) at N205.214 billion, 0.9 per cent higher than N203.283 billion in 2019.

MTN Nigeria’s total equity grew 22.3 per cent from 145.857 billion in 2019 to 178.386 billion.