MTN and Mafab Communications Limited on Monday won the bid for the 5G spectrum in Nigeria.
The auction by the Nigerian Communications Commission (NCC) was held at Transcorp Hotel, in Abuja, for the available two slots for the 3.5 GHz spectrum.
PREMIUM TIMES reports that MTN Nigeria, Mafab Communications Ltd, and Airtel Networks Ltd participated in the bid using the Ascending Clock Auction System.
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On Monday, each firm went through a bidding room after participating in an opening round.
The Department of State Services (DSS) was tasked with monitoring the representatives of the companies who were not allowed to leave the room until the process was over.
The commission fixed the base price for at $197.4 million. The two winners got the nod of the regulator at $273 million, the spokesperson for the NCC, Ikechukwu Adinde, told PREMIUM TIMES.
Earlier at the event, the Minister of Communications and Digital Economy, Dr. Isa Pantami, said Nigeria is hoping to have the widest 5G in Africa in 2022.
Dr. Pantami said this at the auction of the 3.5 gigahertz (Ghz) spectrum in Abuja on Monday.