Airtel, one of the telecommunication giants in Nigeria, has secured a spectrum license that allows 900MHZ and 1800MHz. The right purchased has it’s tenure spanning for 10years effective from December 1, 2021, to November 30 2031.
In its press release statement, Airtel confirms that under the terms of the spectrum licences it paid N71.611 billion ($189 million) as renewal fees.
The Chief Executive Officer, Airtel Africa, Raghunath Mandava, was quoted: “I am pleased to announce that our application in Nigeria to renew our spectrum licences in the 900MHz and 1800MHz bands for ten years has been approved by the NCC.
“This is our largest market, and we remain focused on bridging the digital divide and expanding our broadband capability in the country. On behalf of Airtel Nigeria and the Group, I would like to thank both the government of Nigeria and the NCC for their cooperation and support in this important process.” In its nine-month period December 31, 2020, released on the Nigerian Stock Exchange on January 29, Airtel Africa Plc reported revenue increase by 13.8 per cent to $2,870 million, and Q3’20 reported revenue growth of 19.5 per cent.
According to the Bharti Airtel-owned company, which NCC claimed has 57 million subscribers and 27.58 per cent penetration in Nigeria, constant currency underlying revenue growth was 18.6 per cent, with Q3’20 increase of 22.8 per cent.