5G Spectrum Auction: NCC Okay Bids From MTN, Airtel At N75b Reserve Price

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Consistent with its regulatory principle of open and transparent auction, the Nigerian Communications Commission (NCC) has announced that three telecoms companies have qualified as approved bidders of the forthcoming 3.5 gigahertz (Ghz) spectrum auction for the deployment of Fifth generation (5G) networks in the country.

The qualified bidders that have met the criteria for participation in the licensing process of 3.5Ghz spectrum, including payment of the stipulated Intention to Bid Deposit (IBD) as outlined in the Information Memorandum (IM), are MTN Nigeria Plc., Mafab Communications Limited and Airtel Networks Limited.

Consequently, the stage is now set for the three companies to participate in the Main Auction as well as in the mandatory Mock Auction process, which will come as a precursor to the Main Auction.

The Commission has also reaffirmed the dates for the conduct of both the Mock Auction and the Main Auction. The Mock Auction is scheduled to hold on Friday, December 10, 2021 at Transcorp Hilton Hotel, Abuja by 11:00 a.m., while the Main Auction will hold on Monday, December 13, 2021 at the same venue and the same time

Signed:

Dr. Ikechukwu Adinde Director, Public Affairs December 2, 2021

The commission had fixed the reserve price for the 3.5GHz spectrum auction at $197.4 million (75 billion) naira. A reserve price is a minimum amount that a seller will accept as the winning bid. In bidding process, it prevents a bidder who offers a price lower than what the owner will accept from winning the auction

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