Airtel Pays N142.5bn to Federal Government for 5G, 4G Additional Licenses, Makes Promises

• Airtel Nigeria has announced that it has joined the list of telecommunication companies with 5G spectrum
• The telecommunication giant paid N142 billion to acquire the license alongside an additional 4G spectrum
• With the new development, Airtel will now join MTN and Mafab communication as the telcos with the fifth generation licenses

Airtel Nigeria has aquired 5G and an additional 4G spectrum Licences from the Nigerian Communications Commission (NCC) for $316.7 million to be paid in naira which comes to about N142.5 billion using the current exchange rate.

The telecommunication gaint stated this in a regulatory filing on the Nigerian Exchange on Monday Janaury 9, 2023.

The statement which was signed by by Simon O’Hara the Group Company Secretary, shows that Airtel purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz.

Read also

JAMB announces applicants can pay For UTME using e-Naira

Airtel secured the deal in December 2022 after fending off competition from MTN which was reported to be looking for another 5G licence.

Airtel makes 5G promises

As it prepares to deploy, Airtel promised to improve 5G access to rural communities iand public sector.

Airtel said:

“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”

Speaking on the purchase, Segun Ogunsanya, CEO of Airtel Africa believed that 5G is critical to its market particularly among rural communities.

Ogunsanya 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.

Read also

Experts predict naira exchange rate to US dollar, and other currencies in 2023

“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.”

According to industry data from the NCC, Airtel controls 57.38 million subscribers or 27.16 per cent of Nigeria’s telecom market.

Nigerian man buys Elon Musk's Starlink, shares experience, cost

Meanwhile, in another report, a Nigerian man has successfully imported Elon Musk's Starlink network and has shared his experience

The new network will battle it out for data subscribers with MTN, GLO, and other telecommunication companies

The Starlink network is said to provide faster internet speed, and will also have a wider reach

.

Source: Legit.ng