Following the conclusion of the Fifth Generation (5G)Technology Spectrum Auction, the Federal Government is set to rake in over $547 million from the sale.
The Mobile Telephone Network (MTN) Nigeria and Mafab Communications Ltd, last night emerged winners of the Nigerian Communications Commission’s (NCC’s) 3.5 gigahertz (Ghz) spectrum auction.
The 5G spectrum auction ended at round 11 with the total of $273, 600, 000, 00 million, per lot of 100 MHz TDD.
The bidding was in two stages that came in main stage and assignment stage. The process began at about 12 noon on Monday at Transcorp Hotel, Abuja.
The three bidders, Mobile Telephone Network (MTN) Nigeria, Airtel Nigeria and MAFAB Communications began the main stage, with Airtel dropping down along the process.
The NCC auctioned two slots in the 3.5Ghz 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, 256.10.
“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, 509.71 million.
“Round nine ended at $251, 210, 172.65 million and round ten at $263, 017, 050.77 million accordingly”