Karl Toriola, chief executive officer of MTN Nigeria.

MTN Nigeria has acquired an additional 2.6GHz of spectrum in the country, as it seeks to enhance network efficiency.

The Nigerian Communications Commission approved the transfer and assignment of the 10MHz frequency division duplex (FDD), in the 2.6GHz spectrum band, from OpenSkys Services Limited to MTN Nigeria yesterday.

The licence's effective date is 7 September, 2023, and it is due for renewal 16 April, 2033.

According to MTN, the additional spectrum will allow it to increase network capacity and improve customer experience.

Karl Toriola, CEO, MTN Nigeria, said: “The acquisition of an additional 10MHz FDD in the 2.6GHz spectrum band is an important milestone in the execution of our Ambition 2025 strategy.

“This spectrum will enable MTN Nigeria to roll out our network capacity more efficiently and enhance our sustainability priorities.

“Not only will it help to support the growing demand for data in the country but will improve the overall Internet experience.

“This also aligns with our ongoing support of the Federal Government’s plan to deepen broadband penetration in Nigeria.”

Nigeria is an important market for MTN Group, accounting for the lion's share of revenue among the 19 markets in which it operates.

MTN Group recently announced a $3.5 billion five-year investment in Nigeria. Group CEO Ralph Mupita believes that if Nigeria, the continent's most valuable market, seizes the digital opportunity, it has the potential to become the world's fifth-largest economy.