MTN and MAFAB COMMUNICATIONS emerged as the winners in the 5G spectrum auction held by the Federal Government at Transcorp Hotel Abuja yesterday.
To prepare participants for the main event, a mock auction was held at the same location. It was a success.
Two slots in the 5G spectrum at 3.5Ghz (Ghz), were auctioned by the Nigerian Communications Commission (NCC). This was done using the Ascending clock Auction System. The auctions were participated by MTN Nigeria, Mafab Communications Ltd and Airtel Networks Ltd.
The auction was organized in conjunction with the Ministry of Communications and Digital Economy.
There were two stages to the 5G Technology spectrum auction: the main stage, and the assignment stage. The auction began with three bidders offering $197.4 million to $199.374 million. It ended in round 10, at $263,017.050.77 million.
The assignment stage was used to determine which operator would take a specific lot from the two auction lots.
Airtel Networks was eliminated from the main stage, leaving MTN and MAFAB Communications as the winning bidders. The auction ended with $273.6 Million per lot of 100MHz TDD.
Payment due by February 24 for winners
Professor Umar Danbatta, NCC’s Executive Chairman, announced the outcome of the auction.
He stated that the bidding process was fair and that winners would be expected to pay the winning bidders on February 24, 2022 using the CBN exchange rate.
Prof Danbatta congratulated all the winners and thanked Nigeria’s government for their support in the deployment of 5G technology.
He claims that the 5G network will offer higher connectivity speed, mobility, and capacity. It will also provide low latency capabilities for communications services within the country.
Danbatta stated that the NCC would continue deepening broadband penetration, protecting consumers, and smartly deploying infrastructure across the country.
Nigeria hopes to have Africa’s largest 5G network by 2022, and this development is a first step in that direction.