The spectrum auction for 5G services will hold on December 13, 2021, as announced by the Nigerian Communications Commission (NCC).
Making the announcement at a stakeholders’ consultative forum in Lagos on Thursday November 4, Oluwatoyin Asaju, Director of Spectrum Administration at Nigerian Communications Commission (NCC) disclosed that the commission has 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.
“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.”