Nigeria’s 5G auction price rises to $209.4m
With three operators currently slugging it out in Abuja for Nigeria’s Fifth Generation (5G) network license, the current bid price per lot of the 3.5GHz spectrum auction has now hit $209,497,962.50 as Round Four begins.
The price per lot of 100MHz band of the spectrum on offer was $204, 388,256.10 for Round Three. For Second Round, the auction manager raised the offer to $201, 367,740.00.
In the First Round, the three bidders priced the two lots on offer at $199,374,000.00. The auction process started at $197,400.000.00 (N75 billion) as the reserve price.
MTN Nigeria, Airtel Nigeria and Mafab Nigeria Communications Ltd are participating in the live auction. Each Round last 20 minutes and the bidders have either to accept the offer by putting on their bids or apply for an exit bid to quit.
The auction manager is the director, Spectrum Administration at Nigerian Communications Commission (NCC), Oluwatoyin Asaju.
The auction is supervised by the NCC and holding now at Transcorp Hilton Hotel, Abuja using the Ascending Clock format.
Eligible bidders have 20 minutes to put in their bids.
Earlier, the Minister of Communications and Digital Economy, Prof. Isa Pantami flagged off the 3.5GHz spectrum auction in Abuja at around 11.00 am today.
The auction started after a brief ceremony where the Pantami, Chairman of the NCC Board of Directors, Professor Adeolu Akande and Executive Vice Chairman of the NCC, Professor Umar Danbatta addressed the participants and observers on the imperative of the spectrum auction.
In his address, Pantami traced the journey from 2019 when the 5G technology was tested in Lagos, Abuja and some other cities in Nigeria and found to be suitable and desirable for the country. He also reminded the audience that the test was also followed by an investigation on claims the technology had health dangers. He said the result of the investigation showed 5G technology had no health hazards.
He expressed optimism that by 2022 Nigeria will have the largest 5G coverage in Africa. He is also of the opinion that 5G, could solve, among others, some of the security challenges in the country, since the technology provides real-time services and platforms.