MTN and Mafab Communications Limited won the tender for the 5G spectrum auctioned by the Nigerian government on Monday.
The Nigerian Communications Commission held the auction at the Transcorp Hotel in Abuja for the two available slots for the 3.5 GHz spectrum.
MTN Nigeria, Mafab Communications Ltd and Airtel Networks Ltd entered the bid using the up-clock auction system.
On Monday, each firm went through a bidding room after participating in an opening round.
The State Security Services (SSS) were in charge of monitoring the representatives of the companies who were not allowed to leave the room until the process had concluded.
The commission set the base price at $ 197.4 million. The two winners were approved by the regulator for $ 273 million, NCC spokesman Ikechukwu Adinde told PREMIUM TIMES.
Earlier at the event, Communications and Digital Economy Minister Isa Pantami said Nigeria hopes to have Africa’s broadest 5G in 2022.
Pantami said this at the 3.5 gigahertz (Ghz) spectrum auction in Abuja on Monday.
Pantami said this at the 3.5 gigahertz (Ghz) spectrum auction in Abuja on Monday.
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Pantami said that 5G technology can solve some of the security challenges in the country, as the technology provides services and platforms in real time.
“Let’s not forget that Nigeria has the largest digital economy in Africa, Nigeria has the largest telecommunications market in Africa, Nigeria has the largest Internet subscribers in Africa, Nigeria has the largest broadband and we hope that by 2022, Nigeria have the highest 5G Coverage in Africa, “he said.
“This is why and considering the general benefits of 5G implementation globally, Nigeria as a country, being the giant of Africa, feels that it is necessary for us to start the 5G implementation process.”