MTN assures of service boost with 5G licence as 575m public offer ends
MTN has assured that Fifth Generation (5G) network will improve its service delivery to Nigerians. This followed its emergence as one of the winners of two 100MHz spectrum licences in the 3.5GHz spectrum band on Monday at an auction conducted by the Nigerian Communications Commission (NCC).
MTN Chief Executive Officer, Karl Toriola, made this known in a statement signed by Company Secretary, Uto Ukpanah, yesterday.
MTN, according to statistics from the NCC, currently has 73.6 million customers and 38.4 per cent market penetration as at October.
The telecommunications firm described the successful auction as a significant step towards achieving the goals of the Nigerian National Broadband Plan (2020-25).
MTN and Mafab Communications beat Airtel to the licences by reaching the 11th auction round where the bid price was set at $275.9 million for each of the licences, above the $197.4 million reserve price.
5G offers faster data speeds and lower latency. It allows several devices to be connected at once and creates vast possibilities in innovation and transformation. It will enable seamless communication and interconnectivity between smart devices, a process commonly called the Internet of Things. It has the potential to accelerate digital transformation of industries.
Toriola said: “5G is the future of network technology and offers incredible possibilities for new and enhanced services for our customers. Our successful bid presents an opportunity to be at the forefront of delivering these technological advancements to as many Nigerians as possible.”