Bharti Airtel will invest $700 million annually in Nigeria for the next three to four years amidst the rollout of the 5G network in the country. Airtel has already invested close to $4 billion in Nigeria in the last decade. This decision has been taken in order to roll out the 5G and more fibre into the ground and data centres.

On average, the company invests $400 million every year. Airtel Networks Limited purchased the 100 MHz  spectrum in the 3500MHz band and two units each of 5MHz of 2600MHz from the Nigerian Communications Commission (NCC) for a gross value of $316.7 million.

The payment for the spectrum will be done in the local currency, as the additional spectrum will support the telco’s investments in network expansion for both mobile data and fixed wireless home broadband capability, including the 5G rollout.