MTN Nigeria and MAFAB Communications Limited have been awarded the slots for the 3.5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum as they emerged winners of the auction by the Nigerian Communication Commission (NCC).
NCC conducted the auction at the Transcorp Hotel in Abuja on Monday.
The auction ended with the total sum of $273.6 million per lot of 100 MHz TDD with the bidding in 2 stages that came 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 were Mobile Telephone Network (MTN), Airtel Nigeria and MAFAB Communications ended at the Main stage, dropping down to two bidders.
This disclosure is contained in a press statement issued by NCC and signed by its Director, Public Affairs, Ikechukwu Adinde, and can be seen on its website.
The NCC was 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 $197.4 million to $199, 374 million until it ended in round 10 at $263,017,050.77 million.
NCC’s Executive-Chairman, Professor Umar Danbatta, who announced the results, maintained that the commission followed due process for the bidding with the winners expected to pay on February 24, 2022, with the prevailing Central Bank of Nigeria (CBN) exchange rate.
