5G auction fails to attract bidders
The Nigerian Communications Commission has disclosed that Airtel Network Limited has emerged as the sole bidder for its 3.5GHz frequency band for 5G deployment in the country.Information Guide Nigeria
Based on this, the NCC stated that there would be no auction because Airtel will be given one of the available lots of 100 MHz TDD Spectrum in the 3.5 GHz band at the NCC’s reserve price of $273.60m.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaThe commission stated this in a statement issued on Wednesday. According to it, by the end of business on Monday, December 5, 2022, just two companies had declared interest in the auction of its 3.5GHz spectrum band, but only one had paid the requisite intention to bid deposit.NYSC portal
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The companies were Airtel and Standard Network and Connections Limited (Standard Network).
It said, “However, only Airtel paid the Intention to Bid Deposit as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by 12 working days which was not acceptable in view of the auction timetable.JAMB portal
“Having met all the provision 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.”
During its latest stakeholders’ engagement on ‘The Draft Information Memorandum’ in November 2022, Huawei had said, “High reserve price may result in the risk of spectrum being unsold.”
The NCC issued its Information Memorandum on 3.5 GHz Spectrum Auction in October, revealing plans to issue two more 5G licenses at an auction later this year.JAMB Result
It had set a reserve price of $273.60 million for its new 5G spectrums, expecting to sell them for a greater price.
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