5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum auction.
The Fifth Generation (5G) Technology spectrum auction ended with the total sum of USD273, 600, 000, 00 million, per lot of 100 MHz TDD.
The NCC Executive-Chairman, Professor Umar Danbatta, who announced the results, reiterated that the commission followed due process for the bidding.
According to him, the bidding is in two stages that comes in Main stage and the Assignment stage.
In the assignment stage, two slots of 100MHzTDD available at the 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 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 NCC Executive-Chairman 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.
The NCC Boss affirmed that this would bring sustainable network improvements, higher connection speed, mobility and capacity as well as low latency capacities to Communications services in Nigeria
“The Provisional Licence Winners are expected to pay the Winning Bid Price less the Intention-to-Bid Deposit, by February 24, 2022.
We are happy to state that the Auction process was efficient, fair, well-organized and transparent, and was designed to deliver the ideal outcome.
Accordingly, the strongest bidders have emerged provisional winners, raising a substantial amount for the Federal Government.
He added that; “Today’s auction represents a culmination of all the efforts at the international and national levels that have prepared Nigeria for this momentous leap forward.
“The auction is based on the powers bestowed on the Commission by Section 121 of the Nigerian Communications Act 2003 as well as the Licensing Regulations 2019.
Successful bidders are anticipated to choose the 3.
5 GHz frequency band at the end of the Main Auction.
MTN, MAFAB win Nigeria’s 5G spectrum auction