Prior to its 5G launch, Airtel Nigeria purchased $317 million of 5G spectrum for its 4G network, this was revealed in a statement from the local unit of the telecom giant which said: “The acquisition of 5G spectrum will support our growth strategy by enable the launch of higher speed connectivity to improve customer service and accelerate digitization for consumers, businesses and the public sector.”

Airtel Nigeria disclosed in its statement that it purchased 100 MHz of spectrum in the 3500MHz and 2x5MHz 2600MHz band from the Nigerian Communications Commission (NCC) for gross consideration of $316.7 million, as a strategic part of its broader plan. to boost Airtel Nigeria’s mobile data network and the power of its home wireless fixed broadband.

The company hopes to get the necessary momentum to consolidate itself in the development of 5G technology in the African telecommunications market. This recent development has already started to attract attention as Airtel Africa shares rose 5.2 per cent to N1630 a piece on Lagos Customs Road at 13:28 WAT after the news hit the market, raising its market value above N6.1 trillion, which is the highest value ever traded for a public company in Nigeria.

The company is capitalizing on “the (shallow) penetration of data customers in Nigeria,” where less than 44 percent of people have access to smartphones, according to a survey by the Alliance for Affordable Internet.

Airtel Nigeria has also assured its customers that this purchase will increase the ease of connectivity at a much faster rate to improve access to the digital world for its consumers. According to Ogunsanya, CEO of Airtel Africa, he revealed that Nigeria is a market with huge potential for future growth of mobile services.

while adding that “Investing in new technology and local infrastructure to enable this growth is a strategic priority for the group and will ensure that we can provide reliable and affordable services to local communities across the country.”

Airtel Nigeria had missed an earlier opportunity to run 5G technology when it failed to secure one of two available licenses auctioned by the Nigerian Communications Commission in December 2021, which was secured by MTN and Mafab, and although MTN has already started operating its 5G technology in August 2022, Mafab chose to extend its rollout to January 2022 due to its Mafab regulations.

Airtel Nigeria expects to establish itself in the conversation quickly while delivering value to its customers in Nigeria, which is the largest market for both Airtel and MTN.