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Nigeria 5G Bidders Enter 6th Round As Auction Price Tops $224.4m

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MTN Nigeria,  Airtel Nigeria and Mafab Communications Ltd have entered the sixth round of the auction for sale of two lots of 100MHz in the 3.5GHz spectrum for fifth generation (5) network deployment in Nigeria at $224,414,217.43.

The three eligible bidders are still in the race and continue to fight for the two licences available.

The auction is being organised by the Nigerian Communications Commission (NCC) an is holding at the Transcorp Hilton Hotel,  Abuja.

The fifth round started at $215,782,901.38. The fought Round ended at $209,497,962.50. The third round started at $204, 388,256.10. For Second Round, the auction manager raised the offer to $201, 367,740.00.

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In the First Round ended at $199,374,000.00. The auction process started at $197,400.000.00 as the reserve price.

The three are participating in the live auction. Each Round last 20 minutes and the bidders have either to accept the offer by putting on their bids or apply for exit bid to quit.

The auction manager is Engr. O.Y. Asaju, director,  Spectrum Administration,  Nigeria Communications Commission (NCC).

The auction is supervised by NCC using the Ascending Clock format. Eligible bidders have 20 minutes for each bid.

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Details later…

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