MTN Nigeria said on Friday that it had acquired an additional 10 megahertz of spectrum in the 800MHz band from Intercellular Nigeria. The Nigerian Communications Commission had approved the transaction and reassigned the frequency, it said.
The extra spectrum will help underpin its data network and telecoms coverage in the country as it continues growing its subscriber base.
Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country,” MTN Nigeria CEO Karl Toriola said. “The added resources will also greatly impact our customers’ experience providing even better internet connectivity.”
Nigeria is MTN’s biggest market, contributing almost a third of group revenue. Mobile subscribers reached 76.5 million by the end of last year as it added 12.2 million new customers, helping it lift service revenue by almost 15%. Active data subscribers grew by 7.4 million to 32.6 million, supporting growth of 52% in data revenue.
It said the performance in data was enabled by a combination of increased subscribers, usage and ultimately traffic, which was in turn supported by increased network capacity and 4G penetration. Data traffic rose by 127% and average usage by 64%.
MTN Group’s shares rose 4.1% to R86.88 on the JSE on Friday.
Main Image; The Guardian Nigeria