The Mobile Telephone Network (MTN), and MAFAB Communications Ltd, have emerged winners of the Nigerian Communications Commission’s (NCC’s) 3.
5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum auction.
The Fifth Generation (5G) Technology spectrum auction ended on the eleventh with the total sum of USD273, 600, 000, 00 million, per lot of 100 MHz TDD.
The bidding is in two stages that comes in Main stage and Assignment stage.
In the assignment stage, two slots of 100MHzTDD available at 3.
5GHz band were for bidding to support the delivery of broadband services for the deployment of 5G in Nigeria.
The bidders, which are: Mobile Telephone Network (MTN), Airtel Nigeria and MAFAB Communications ended at the Main stage, dropping down to two bidders.
Voice of Nigeria reports that NCC is auctioning two slots in the 3.
5 gigahertz (Ghz) 5G spectrum.
The auctioning was organised by NCC, in conjunction with the Ministry of Communications and Digital Economy, on Monday, 13th November in Abuja.
The first round of the auction, which took off with the three bidders, started with the price of the spectrum $197.
4m to $199, 374m.
At the third phase of the procedure, the current price per lot is $204,388, 256.
“At the fifth stage of the bidding, the price fell at $215, 782, 901.
38 million and $224, 414, 217.
43 million at the sixth round per lot with all the three bidders in the race.
“Round seven ended at $231, 146, 643.
96, while eight at $240, 392, 509.
“Round nine ended at $251, 210, 172.
65 million and round ten at $263, 017, 050.
77 million accordingly”
The Executive-Chairman of NCC, Professor Umar Danbatta, who announced the results, reiterated that the commission followed due process for the bidding.
Danbatta said the winners were expected to pay on February 24, 2022, with the prevailing Central Bank of Nigeria (CBN) exchange rate.
He recalled that these allocations at the international level, were granted approval for 5G trial in Nigeria in November, 2019.
“Arising from the above, the Winning Bid Price for the Auction is USD$273,600,000 for each lot of 100 MHz TDD.
Professor Danbatta congratulated the winners and thanked the government for its support and commitment to the deployment of 5G technology in Nigeria.
MTN, MAFAB win NCC’s 5G spectrum auction