The Mobile Telephone Network (MTN) and MAFAB Communications Ltd have won the 3.5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum auction held by the Nigerian Communications Commission (NCC).
On the eleventh, the Fifth Generation (5G) Technology spectrum auction concluded with a total bid of USD273, 600, 000, 00 million per lot of 100 MHz TDD.
The bidding process is divided into two stages: the Main stage and the Assignment stage.
Two slots of 100MHzTDD available in the 3.5GHz band were up for bidding during the assignment stage to support the delivery of broadband services for the deployment of 5G in Nigeria.
The bidders, Mobile Telephone Network (MTN), Airtel Nigeria, and MAFAB Communications, were eliminated from the competition at the Main stage, leaving only two bidders.
NCC is auctioning two slots in the 3.5 gigahertz (Ghz) 5G spectrum, according to Voice of Nigeria.
On Monday, November 13th, NCC, in collaboration with the Ministry of Communications and Digital Economy, held an auction in Abuja.
The first round of the auction, which began with three bidders, began with the price of the spectrum ranging from $197.4 million to $199, 374 million.
The current price per lot is $204,388, 256.10 in the third phase of the procedure.
Read Also: MTN is currently Nigerian company
“With all three bidders in the race, the price fell to $215, 782, 901.38 million in the fifth round and $224, 414, 217.43 million in the sixth round.”
“Round seven ended with a total of $231, 146, 643.96, while round eight ended with a total of $240, 392, 509.71 million.
“Round nine ended with a total of $251, 210, 172.65 million, while round ten ended with a total of $263, 017, 050.77 million.”
Professor Umar Danbatta, the NCC’s Executive-Chairman, who announced the results, reiterated that the commission followed due process in the bidding process.
The winners were expected to pay on February 24, 2022, using the current Central Bank of Nigeria (CBN) exchange rate, according to Danbatta.
He recalled that these allocations were approved at the international level for a 5G trial in Nigeria in November of this year.
“As a result of the foregoing, the Auction’s Winning Bid Price for each lot of 100 MHz TDD is USD$273,600,000.”
Professor Danbatta congratulated the winners and expressed gratitude to the Nigerian government for its support and commitment to the deployment of 5G technology.