Airtel Africa revealed it spent US316.7 million on 4G and 5G spectrum as part of wider plans to bolster connectivity in Nigeria, from an auction where it was the sole bidder.
In a statement, the company detailed it acquired 100MHz in the 3,500MHz band and two blocks of 5MHz in the 2,600MHz band, from the Nigerian Communications Commission (NCC) for a gross consideration of US$316.7m, payable in local currency.
The additional spectrum will support network expansion for both mobile data and fixed wireless broadband capability including 5G rollout and capacity to accommodate data growth in Nigeria.
The 5G spectrum will underpin its growth strategy by providing customers with higher connectivity speeds and accelerating digitalisation for the public and private sectors.
Airtel Africa CEO Segun Ogunsanya said: “Nigeria is a market with enormous potential for future growth in mobile services. Investment in new technologies and local infrastructure to enable this growth is a strategic priority for the Group and will ensure we are able to provide reliable and affordable services to local communities across the country.
"5G is critical to these ambitions, and we look forward to launching new services to drive further digitalisation across the country, facilitate economic progress and transform lives across Nigeria.”