Airtel Networks Limited (Airtel) is the sole bidder in Nigeria’s second auction of the 3.5GHz Spectrum band for 5G services.
Airtel emerged sole bidder after Standard Network & Connections Limited (Standard Network) failed to pay the Intention to Bid Deposit (IBD) as required by all bidders.
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Only Airtel met this bid condition, the telecom regulator announced in statement to underscore “some level of caution on the part of investors in the economy for now as the country enters an election year,” one expert mentioned to IT Edge News in Lagos.
In December 2021, MTN Nigeria and Mafab Communications successfully out-bided Airtel to clinch the two 5G licences for grabs at $273.6 million each.
For the 2022 bid, the Nigerian Communications Commission (NCC) set a reserve price of $273.6 million for the 5G spectrum licence with tenure of 10 years.
Read the NCC’s statement below.
Status of the 3.5GHz Spectrum Auction
The Nigerian Communications Commission (NCC) hereby announce that by the close of business on Monday December 5, 2022, only two companies expressed interest in the auction of the 3.5GHz Spectrum band namely;
- Airtel Networks Limited (Airtel) and
- Standard Network & Connections Limited (Standard Network).
However, only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable in view of the auction timetable.
Having met all the provisions in the IM, Airtel has therefore emerged as the sole Bidder.
Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process.
Director, Public Affairs
December 07, 2022