5G Auction: MTN, Mafab, Emerge Winners, to pay $273.6 million 

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5G Auction: MTN, Mafab, Emerge Winners, to pay 3.6 million 

Following the recent play of events at the 5G auction, Nigerians will be able to access 5G Network in 2022 as MTN and Mafab Communications emerged winners of the 100 MHz lots each in the 3.5GHz spectrum.

The auction which was conducted by the Nigerian Communications Commission (NCC) began on Monday, December 13, in Transcorp Hilton Hotel, Abuja, and had various telecommunications present for a bid.

The director, Spectrum Administration at Nigerian Communications Commission (NCC), Oluwatoyin Asaju, was the auction manager. An ascending Clock System of auction was utilised by the NCC and three bidders, namely; MTN, Airtel and Mafab slugged it out among themselves.

The auction was attended by the Minister of Communications, Prof. Isa Pantami, NCC Board of Directors, Professor Adeolu Akande and Executive Vice Chairman of the NCC, Professor Umar Danbatta. They addressed the participants and observers on the imperative of the spectrum auction before it started.

In his address, Pantami recalled 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.

MTN and Mafab Emerge Winners

In Round 1,The bid price was $199,374,000, and 20 minutes was allotted for the 3.5GHz spectrum band for the 5G deployment bidding process with the players. In Round 2, the lot price increased to $201,367,740. At Round 3, which also lasted for 20 minutes, the price was increased to $204,388,356.1.

At Round 4, with all the players still in the race, the lot price rose to $209,407,962.50, and the process lasted for 20 minutes. For Round 5, the lot price rose to $215,782,901.30. At Round 6, the lot price increased to $224,414,217.43.

Round 7 saw the lot rise to $231,146,643.96 and lasted for 10 minutes. Round 8, which lasted for about four minutes, saw the lot increase to $240,392,597.3, while Round 9 climbed to $251,210, 172.65.

After 11 rounds of bidding, two operators, MTN and Mafab Communications emerged winners, they are to pay $273.6 million between now and February 2022.

Note: This content is provided and owned by the www.techcityng.com

Source: 5G Auction: MTN, Mafab, Emerge Winners, to pay $273.6 million 

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