Breaking: NCC Finally Reveals When 5G Spectrum Auction Will Hold, Pegs Reserve Price at $197.4m

Breaking: NCC Finally Reveals When 5G Spectrum Auction Will Hold, Pegs Reserve Price at $197.4m

  • The Nigerian Communications Commission announced recently, that the 5G spectrum auction will hold by December 13, 2021
  • The director of spectrum administration at , Oluwatoyin Asaju made this disclosure on Thursday, November 4
  • Meanwhile, the commission has pegged the reserve price for the 3.5GHz spectrum auction at the sum of $197.4 million

Lagos- The Nigerian Communications Commission (NCC), says the upcoming spectrum auction for 5G services will hold on Monday, December 13, 2021.

Legit.ng reports that the director of spectrum administration at NCC, Oluwatoyin Asaju, announced this on Thursday, November 4, at a stakeholders’ consultative forum in Lagos.

The commission had fixed the reserve price for the 3.5GHz spectrum auction at $197.4 million.

Breaking: NCC finally reveals when 5G spectrum auction will hold, pegs reserve price at $197.4m
NCC disclosed that the upcoming spectrum auction for 5G services is scheduled to hold by December 13, 2021. Photo credit: Nigerian Communications Commission
Source: Twitter

A reserve price is a minimum amount that a seller will accept as the winning bid. In bidding process, it prevents a bidder who offers a price lower than what the owner will accept from winning the auction.

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Asaju said the commission would first hold a mock auction on Friday, December 10, 2021.

He said:

“A reserve price of approximately N75 billion (Seventy-Five Billion) Naira only, equivalent to One Hundred and Ninety-Seven Million and Four Hundred Thousand United States Dollars only (USS 197,400,000.00) is to be used,” Asaju said.
“An Initial Bid Deposit (IBD) equal to 10% of the reserve price is adopted in line with the previous auction.”

Asaju noted that the ascending clock auction process will be used.

He added that the auction will be software-based, adding that provisions have been made for the manual auction should the auction software fail during the auction process.

On eligibility criteria for network operators, Asaju said only licensees with 100 percent regulatory compliance would be allowed to participate in the auction.

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Asaju affirmed thus:

“New entrants are allowed to participate in the auction in addition to existing licensees,” he added.
“Licensees with outstanding debts that have secured Management’s approval for a payment plan will be allowed to participate.”

According to the NCC, the stakeholder engagement forum is an important regulatory prerequisite for the planned auction of the 3.5Ghz spectrum, which is necessary for the rollout of the 5G network in Nigeria.

MTN, 9mobile loses 1.37million data users, months after Elon Musk's Starlink reveals Nigerian market interest

Meanwhile, Legit.ng had earlier reported that the data war in the last two months have two losers, and that's MTN Nigeria and 9mobile, as both telecommunication companies lost 1.37 million internet users between July and August.

Despite the loss, industry report shows that the number of data subscribers increased by 0.34%, rising from 139.38 million users to 139.87 million customers between two months.

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MTN records N1.2 Trillion revenue in the first 9 months Of 2021, higher than the Oil, tax revenues of Nigeria

In another report, MTN Nigeria Communications Plc (MTN Nigeria) has announced its unaudited results for the nine months ended 30 September 2021.

According to the document published on the website of the Nigerian Exchange, the telecom giant continues with strong earnings recorded in the 1st and 2nd quarter of this year where it posted N385.3 billion and N405.9 billion respectively which comes to N1.2 trillion (January to September).

To put MTN impressive result in context, the revenue posted implies that monthly the company makes N133 billion from Nigerians.

Source: Legit Nigeria

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