The remaining two slots in the 3.5GHz spectrum will be auctioned for $273.6 million per slot as reserve bid price and there will be no reserve spectrum for any interested parties, the Nigeria Communications Commission (NCC) has ruled.
The telecoms regulator also declared 5, December as deadline to receive all bids following the adoption and publication of the final version of the Information Memorandum (IM) to guide the upcoming auction of the remaining lots of the 3.5 gigahertz (GHz) Spectrum for the deployment of 5G services in Nigeria.
The NCC successfully auctioned the initial two slots in the 3.5GHz spectrum in December 2021, to MTN Communications Plc and Mafab Communications Limited with a fixed reserve bid price of $194.7 million.
This year, the fixed price has jumped tremendously over that of last year informed by increased interest in spectrum licence and a mix of factors that has also made the licence to appreciate in value, according to the NCC.
The licence tenure is 10 year licence and successful licensees are expected to rollout 5G services within 12 months after acquiring the licence.