Telecommunications giant, MTN Nigeria Communications Plc has won one of two licenses to begin operations and use of 5G network in Nigeria. This is coming two weeks after it announced its public offer of selling over 500 million shares to Nigerian via retail investors for N169 each.
The company had secured the license on offer by the Nigerian Communications Commission (NCC) at an auction on Monday, December 13, 2021, enabling it to supply faster internet to customers and businesses.
Both MTN Nigeria and Mafab beat Airtel to the licenses by reaching the 11th auction round where the bid price was set at $275.9 million for each of the licenses, above the $197.4 million reserve price.
The procuring of the license reinforces MTN Nigeria’s commitment to delivering superior network services to its customers across the country as well as its growth prospects in the coming years, making it an even easier choice for investors to participate in its retail offer.
Taking MTN’s current portfolio into consideration, market analysts have continued to encourage Nigerians to seize the opportunity of the ongoing public offer to partake in MTN’s glowing future. The acquisition of the 5G license by MTN is another indicator of what is to come for the telecommunications industry in Nigeria.
Speaking at a recent Investor Forum which was held on the 1st of December, 2021, CEO Nigerian Exchange Limited, Temi Popoola urged Nigerians to key into the MTNN offer which according to him, has the “potential” to revive the market.
Boniface Okezie, National Coordinator, Progressive Shareholders Association (PSAN), heralded MTN Nigeria as “the best company to invest in” and asked investors to “go and invest in MTNN and keep your dividends rolling in”, while Bolaji Balogun, CEO of Chapel Hill Denham, described MTN Nigeria as “Nigeria’s strongest company in terms of dividend distribution and dividend policy”, adding, “If there is one gift you must give to a family member if there is one share they should buy, it is MTNN.”