MTN Nigeria Communications Plc (“MTN Nigeria”) has announced the acquisition of additional 800MHz spectrum.
The Company said the 10MHz spectrum in the 800MHz band was acquired from Intercellular Nigeria Limited.
The Nigerian Communications Commission (NCC) has approved the transaction and assigned the frequency to MTN Nigeria.
The acquisition will significantly improve customer experience, in line with our commitment to deliver excellent service quality to our subscribers.
Commenting on the acquisition, the Chief Executive Officer, MTN Nigeria, Karl Toriola, said, “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.”
Intercellular played pioneering role in wireless telecommunications role out in Nigeria din the heydays of CDMA.
The company is swapping its existing CDMA network with an LTE network on the 800 MHz frequency band.
On the other hand, MTN Nigeria continues to invest significantly in expanding existing capacity and installing new technologies; thus advancing digital inclusion.
Key metrics of MTN Nigeria audited results for the financial year ended 31 December 2020:
- Mobile subscribers increased by 12.2 million to 76.5 million
- Active data users increased by 7.4 million to 32.6 million
- Service revenue increased by 14.7% to NGN1.3 trillion
- Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 9.7% to N685.7 billion
- EBITDA margin declined by 2.5 percentage points (pp) to 50.9%
- Profit before tax (PBT) grew by 2.6% to N298.9 billion
- Earnings per share (EPS) rose by 0.9% to N10.1
- Proposed final dividend of N5.90 kobo per share