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NCC Unveils 5G Spectrum Auction Date, Reserve Price | DETAILS

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The Nigerian Communications Commission (NCC), have unveiled a date to auction the Fifth Generation (5G) Spectrum.

According to the Commission, the 3.5GHz 5G Spectrum will be auctioned at a reserve price of $197.4m on Monday, December 13, 2021.

A reserve price is the lowest sum a seller is willing to accept as the winning bid.  As a result, it prevents a bidder from winning the auction by offering a lower price than the owner would accept throughout the bidding process

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The NCC is the Independent Regulatory Authority in charge of the telecoms industry in Nigeria.

Announcing the date and price during a stakeholders’ consultative conference in Lagos, the Director, Spectrum Administration, NCC, Oluwatoyin Asaju, added that the Commission will first perform a mock auction on Friday, December 10, 2021.

“A reserve price of roughly N75 billion (seventy-five billion) naira, which is equivalent to US$ 197,4 million, is to be used.”

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“In keeping with the last auction, an Initial Bid Deposit (IBD) of 10 per cent of the reserve price is adopted.”

“In addition to existing licensees, new entrants are allowed to participate in the auction”.

 

“Licensees who have gained Management’s approval for a payment plan and have outstanding debts will be eligible to participate” Asaju stated.

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He added that the ascending clock auction process will be used and the auction would be software-based. However, arrangements have been made for a manual sale if the auction software fails during the process.

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