The Nigerian Communications Commission (NCC) auctioned the two available slots of the 3.5 gigahertz band spectrum for the deployment of fifth-generation (5G) network in the country on Monday. The live auction which was held at Transcorp Hotel, Abuja saw MTN Nigeria and Mafab Communications Ltd emerge as winners in the keenly contested auction. Bidding started at $199.37 million and after eight hours and eleven rounds of bidding, the auction for 5G technology ended at $273.6m for each of the two available slots.
Both companies are expected to pay a total of $547.2 million for the 5G technology license by February 2022 and payment has to be made in naira.
Speaking earlier at the event, the Minister of Communications and Digital Economy, Isa Pantami stated that Nigeria is projected to have the widest 5G spectrum coverage in Africa in 2022.
He also said, “Let us not forget that Nigeria has the largest digital economy in Africa, Nigeria has the largest telecommunications market in Africa, Nigeria has the largest internet subscribers in Africa, Nigeria has the largest broadband and we hope that by 2022, Nigeria will have the widest 5G coverage in Africa.
“It is because of this and looking at the general benefits of the 5G deployment globally, Nigeria as a country, being the giant of Africa, feels it is necessary for us to kick start the process of 5G deployment.”
Pantami also said that the deployment of 5G technology is safe in Nigeria and would not compromise the country’s security.
