Airtel Africa plc has confirmed that its Nigerian subsidiary, Airtel Nigeria, has received regulatory approval from the Nigerian Communications Commission (NCC) to renew its 900MHz spectrum licence for an additional ten-year term.

The renewal was disclosed in Airtel's Q2 2026 financial statement published on Thursday. The company stated that it received formal confirmation of the licence terms from the NCC on April 15, 2026.

Under the agreement, the 900MHz spectrum renewal fee has been set at $37 million, payable in naira at ₦50.5 billion, using an exchange rate of ₦1,365/$1.

The renewed licence will take effect immediately upon the expiration of the current term. The existing licence, signed in February 2021, covers the period from December 1, 2021, to November 30, 2031. The newly confirmed agreement will run from December 1, 2031, through November 30, 2041.

The 900MHz spectrum band is a critical asset for Nigerian telecommunications operators, allowing signals to cover broader geographic areas and penetrate buildings more effectively than higher-frequency bands. In Nigeria's highly competitive telecom market—where Airtel ranks as the second-largest mobile operator behind MTN Nigeria—retaining low-band spectrum is essential for maintaining service quality and market position. The renewal aligns with ongoing efforts by the Nigerian government, regulators, and industry stakeholders to expand broadband access nationwide, particularly in underserved communities and to bridge the digital divide, supporting objectives outlined in the country's National Broadband Plan.

For Airtel Nigeria, securing the spectrum extension for another decade ensures network stability, continuous coverage for its subscriber base, and uninterrupted service delivery across both urban and rural regions. The decision to settle the $37 million fee in local currency also provides a buffer against foreign exchange volatility, reducing immediate demand for dollars amid broader macroeconomic adjustments in the country following the naira's devaluation and the Central Bank of Nigeria's exchange rate reforms.

The licence renewal comes alongside several key financial and corporate developments reported in the company's Q2 2026 results.

Airtel Nigeria posted total revenue of ₦689.87 billion for the quarter, driven primarily by data revenue. This represents a 50.4% year-on-year increase in reported currency, up from ₦459 billion ($333 million) in the same period a year earlier. Airtel Nigeria's revenue accounts for 27.03% of the group's total revenue across its 14 African markets, reinforcing Nigeria's position as the group's largest market on the continent and one of the most strategically important telecom economies in Africa.

The company also reported that smartphone penetration among its customer base rose by 4.6% to reach 56.1%. Smartphone data usage per customer increased to 14.9 gigabytes (GB) per month, compared to 11.8 GB per month a year ago. These trends underscore the growing demand for mobile data services in Africa's most populous nation, where a large youth population and expanding digital economy continue to drive internet adoption.

At the group level, Airtel Africa is preparing to list its mobile money operation, Airtel Money, through an initial public offering (IPO) scheduled for the second half of the year. The company has selected London as its preferred listing venue, having shifted from the Middle East due to political instability in the region. The planned listing comes as mobile money services across sub-Saharan Africa continue to scale rapidly, extending financial services to consumers historically underserved by traditional banking infrastructure.

During the second quarter, Airtel Money processed transactions worth $61.4 billion. The mobile money unit reported total quarterly revenue of $404 million, representing a 38.9% year-on-year increase.