Posted by By SOLA FANAWOPO on
The Nigerian Communications Commission on Thursday increased the number of operators of the Global System of Mobile (GSM) telephone in the country by awarding a licence to a United Arab Emirates firm, Mubadala Development Company, for $400 million.
The Nigerian Communications Commission on Thursday increased the number of operators of the Global System of Mobile (GSM) telephone in the country by awarding a licence to a United Arab Emirates firm, Mubadala Development Company, for $400 million.
The package includes a mobile licence and spectrum in the GSM 1800 and 900 MHz bands.
The terms of the offer specify that Mubadala will be required to pay the full licence fee on or before January 19, 2007, failing which the offer would automatically lapse, a term which Mubadala has accepted in full.
The board of the NCC also, on Thursday, announced its intention to continue with the licensing of radio spectrum in the 3G and 450 MHz bands. These new licences will encourage the deployment of advanced technology to build on the positive development of the telecommunications sector in Nigeria.
Daily Sun gathered that the release of more spectrum supports the government's policy of improving access to communication services and extending coverage, especially into rural areas. This would guarantee an increased range of services, improved quality and better value for money
Mubadala Development Company is a wholly owned investment vehicle of the United Arab Emirates government.
It invests in a wide range of strategic sectors, including energy, utilities, real estate, public-private partnerships, basic industries and services aimed at diversifying and further developing the rapidly growing economy of UAE, while achieving superior returns on its investments.