Airtel Nigeria has paid N58.7 billion for the renewal of its spectrum, the nation’s number two mobile network operator (MNO) by subscriber base says. 

Airtel Nigeria’s N58.7 billion payment was made payable to the Nigerian Communications Commission (NCC), to renew its 2×10 MHz 2100 MHz spectrum licence for another 15 years, according to the MNO. 

“Once renewed, the licence will be valid for a period of 15 years following the expiry of the previous licence (31 April 2022),” Simon O’Hara, Airtel Africa Group Company Secretary says in a statement by the telecoms group.

“This investment to renew the licence” Airtel says, “reflects our continued confidence in the opportunity inherent across the Nigerian market, supporting the local communities and economies through furthering digital inclusion and connectivity.”

Nigeria’s telecoms market active subscriber numbers hit the 227,179,946 mark in February with the leading MNOs controlling the lion share of the market split among MTN Nigeria, 92,707,154 (40.87%); Glo, 60,755,096 (26.78%); Airtel Nigeria, 60,300,140 (26.58%) and 9mobile, 13,073,342 (5.76%).

Airtel Nigeria’s decision to renew its spectrum come amid the MNO’s decision last year to stake $273.6 million for frequency acquisition, after emerging sole bidder in the 3.5GHz spectrum sale for deployment of 5G services in the country.