Home Technology Round one and two of 3.5GHz 5G license ends with $199.3m and...

Round one and two of 3.5GHz 5G license ends with $199.3m and $201.3m respectively

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The first round of the 3.5Ghz spectrum auction has just ended with the three bidders, MTN Communications Plc, Airtel and MAFAB Communications, taking the current price of the spectrum from the reserved $197.4m to $199, 374m.

Nigeria’s Minister of Communications and Digital Economy, Alhaji Ibrahim Pantami at about 11 am today, in Abuja, flagged off the highly anticipated 3.5 GHz Spectrum auction.

The auction will usher in the deployment of 5G technology and services in Nigeria.

The auction started after a brief ceremony where Professor Isa Ibrahim Pantami, Chairman of the Nigerian Communications Commission ( NCC) board of directors, Professor Adeolu Akande and Executive Vice Chairman of the NCC, Professor Umar Danbatta addressed the participants and observers on the necessity of the spectrum auction.

In his address, Pantami recounted how the journey has been 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 brought to the notice of everyone 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.

Pantami in his opinion noted that 5G will go a long way in promoting the economic development of Nigeria, because digital technology is a key enabler of other sectors, especially the financial sector.

The Chairman of the NCC Board of Directors, Professor Adeolu Akande said the purpose of the 3.5 GHz Spectrum auction was to support the deployment of 5G technology in Nigeria, for the benefit of Nigerians.

However, all three companies, MTN Nigeria, Airtel Nigeria and Mafab Communications that expressed the desire to participate at the auction, are present at the auction.

The MTN team was led by its Chief Executive officer, Karl Toriola, Mafab Communications was led by its chairman, Alhaji Musibau Bashir, and Airtel was led by Chief Financial officer, Mr S. Krishna Menon.

Round two of the bid began at exactly 1.40pm.

Each round is 20 minutes and there are three bidders, MTN Communications Plc, MAFAB Communications Ltd and Airtel Nigeria.

They are bidding from a reserved price of $197.4m.=

In round two, the three bidders have raised their bid to $201,367,740.00. They appear to be unanimous in that price.

The Commission is using the ascending clock bid format. It means that the Auction manager sets the fixed price and the bidders will accept. However, any bidder that finds the prices going outside their budgets can withdraw, until a winner or winners emerge.

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