Mafab in talks to transfer 3.5GHz 5G block to MTN Nigeria

What the deal covers

Mafab and MTN Nigeria were the two winners of the NCC's December 2021 3.5GHz auction, each paying $273.6 million for a 100MHz lot. The 2x20MHz block in the 2.1GHz band would add capacity to MTN's 3G and 4G layers, Innovation Village reported.

Neither company has confirmed the deal and the NCC has not commented publicly. The price has not been disclosed. Telecompaper reported on 22 September, citing The Punch, that industry sources had confirmed preliminary talks.

What MTN would gain

Absorbing Mafab's block would take MTN Nigeria's total holding in the 3.5GHz band to 200MHz, double its current 100MHz.

According to Leadership, MTN Nigeria paid an additional $15.9 million at the 2021 assignment stage to secure the 3500-3600MHz block, while Mafab was assigned 3700-3800MHz. MTN Nigeria was the first operator to launch commercial 5G in the country.

Nigeria recorded more than 4 billion gigabytes, or roughly 4 exabytes, of data consumption in the first quarter of 2026, according to Leadership. The NCC has said operators are expected to invest more than $1 billion in telecoms infrastructure during the year.

The regulator's concentration question

Any transfer remains subject to approval from the Nigerian Communications Commission. Broadcast Media Africa reported that the regulator's assessment of the resulting spectrum concentration is the key issue for the market. Innovation Village said the NCC will review the agreement under its secondary market spectrum trading framework.

MTN Nigeria is already the largest operator, with 96.98 million of 189.68 million active subscriptions in May 2026, against 65.45 million for Airtel Nigeria, 23.47 million for Globacom and 3.54 million for T2, NCC figures showed. Airtel, which Mafab outbid in 2021, bought 5G spectrum in 2023 for $316.7 million.

5G remains a small share of the market. It accounted for 4.74 per cent of mobile connections in July 2026, up from 3.94 per cent in January and 2.46 per cent in December 2025, while 4G took 54.31 per cent, according to the same NCC data.

Telecomlead noted that Mafab entered the market as a new 5G competitor, and that its exit could reduce the number of operators controlling scarce 5G resources.

An auction winner heads for the exit

Mafab outbid Airtel Nigeria in an 11-round contest at the December 2021 auction. It launched commercial service under the Mcom brand in Abuja in January 2023, and in Lagos shortly afterwards.

Mafab attributed part of its rollout difficulties to the sharp rise in foreign exchange costs, which raised the naira cost of network equipment and deployment. The NCC extended its rollout deadline after licensing and regulatory delays. In 2024 the company said it planned to deploy 102 operational sites in selected cities by the end of the first quarter of 2025.

Nigerian NewsDirect reported that Mafab incorporated in July 2020 and is backed by businessman Musbahu Muhammad Bashir, who also chairs the Abuja-based Althani Group. The Guardian reported that Mafab had previously engaged Reliance Jio and Airtel Nigeria over the spectrum.

What happens next

The Guardian quoted an industry source saying the transaction could be completed as early as next month, subject to NCC approval. Innovation Village reported the agreement could be concluded as early as October.