Mafab Communications Ltd and MTN Nigeria Plc, both emerged as the winner of the 3.5 gigahertz spectrum auction for the deployment of 5G (Fifth Generation) technology services in Nigeria.
Three companies (MTN, Airtel, and Mafab Communications Limited) qualified for the auction, based on the requirements spelled out in the Information Memorandum (IM) for the spectrum auction. The auction was conducted by the Nigerian Communications Commission (NCC), in conjunction with the Federal Ministry of Communications and Digital Economy.
The auction was held at the Transcorp Hilton Hotel, Abuja with all bidders present competing for the available two slots. After 11 rounds of bidding which lasted for eight hours, Mafab Communications Limited and MTN Communications Nigeria Limited emerged as provisional license winners.
The Executive Vice Chairman of NCC and Auction Overseer, Prof. Umar Garba Danbatta, said that the commission used the Ascending Clock Auction format for the auction and the winning bid price for the auction is $273,600,000 for each lot of 100 MHz TDD (Time Division Duplex).
He expressed satisfaction that the auction process was efficient, fair, credible, well-organized, and transparent and was designed to deliver the ideal outcome.
The EVC complimented the winners and thanked the Federal Government for its support and commitment to the deployment of 5G technology in Nigeria.