The Nigerian Communications Commission, on Tuesday, grants MTN Nigeria a spectrum lease transaction from the Natcom Development and Investment Limited.

The transaction, which covers 19 states in the country, permits the telecommunication company to lease two spectrums – 5HMz Frequency Division Duplex and 10HMz FDD from NTEL.

The transaction cost MTN Nigeria N4.25 billion and includes taxes, regulatory fees, and auxiliary charges as transaction costs while the spectrum lease is for a period of two-year, starting May 1, 2023, Nairametrics reports.

Speaking on the feat, the Chief Executive Officer of MTN Nigeria, Karl Toriola said, “This is a significant milestone in delivering our Ambition 2025 strategy. The access to NTEL’S 90OMHz and 1800MHz spectrums broadens our spectrum holdings and improves our 3G and 4G user experience as coverage and capacity will be enhanced by utilising these spectrums.”