The Nigerian Communications Commission (NCC) has announced that the spectrum auction for 5G services will hold on December 13, 2021.
Making the announcement at a stakeholders’ consultative forum in Lagos on Thursday, November 4, Oluwatoyin Asaju, Director of Spectrum Administration at the Nigerian Communications Commission (NCC) disclosed that the commission had fixed the reserve price for the 3.5GHz spectrum auction at $197.4 million.
While a mock auction will hold on December 10, 2021, an ascending clock auction process will reportedly be used at the main event.
Asaju said: “A reserve price of approximately N75 billion (Seventy-Five Billion) Naira only, equivalent to One Hundred and Ninety-Seven Million and Four Hundred Thousand United States Dollars only (USS 197,400,000.00) is to be used.
“An Initial Bid Deposit (IBD) equal to 10% of the reserve price is adopted in line with the previous auction.”
