Airtel Africa, the third largest telecom operator in Nigeria has paid $316.7 million for the 5G spectrum it won in December and an additional 4G spectrum, according to a notice the company sent to the Nigerian Exchange on Monday.
The notice published on the NGX site showed that Airtel Africa secured the 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigerian Communications Commission (NCC), paying in local currency. A source in the NCC confirmed the payment was made about two weeks ago. Several calls to the director of the commission failed to go through.
Airtel says the additional spectrum will support investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate strong data growth in Nigeria and exceptional customer experience.