MTN, Mafab Communications Win Slots For $273m

 The Mobile Telephone Network (MTN) and MAFAB Communications Limited have both been awarded the slots for the 3.5 gigahertz (Ghz) Fifth Generation (5G) Technology spectrum as they emerged winners of the auction by the Nigerian Communication Commission (NCC).


The auctioning was organised on Monday, November 13, in Abuja, by NCC, in conjunction with the Ministry of Communications and Digital Economy.


The 5G Technology spectrum auction ended with the total sum of $273.6 million per lot of 100 MHz TDD with the bidding in 2 stages that came in Main stage and Assignment stage.



In the assignment stage, two slots of 100MHzTDD available at 3.5GHz band were for bidding to support the delivery of broadband services for the deployment of 5G in Nigeria.


The bidders which were Mobile Telephone Network (MTN), Airtel Nigeria and MAFAB Communications ended at the Main stage, dropping down to two bidders.


This disclosure is contained in a press statement issued by NCC and signed by its Director, Public Affairs, Ikechukwu Adinde, and can be seen on its website.


The NCC was auctioning two slots in the 3.5 gigahertz (Ghz) 5G spectrum.


The first round of the auction, which took off with the three bidders, started with the price of the spectrum $197.4 million to $199, 374 million until it ended in round 10 at $263,017,050.77 million.



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