After 11 rounds of bidding, two operators, MTN and Mafab Communications have emerged winners of 100 MHz lots each in the 3.5GHz spectrum for the Fifth Generation (5G) network.
They are to pay $273.6 million between now and February 2022.
Earlier, the Minister of Communications and Digital Economy, Prof. Isa Pantami flagged off the 3.5GHz spectrum auction in Abuja, on Monday.
The auction started after a brief ceremony where the Pantami, Chairman of the NCC Board of Directors, Professor Adeolu Akande and Executive Vice Chairman of the NCC, Professor Umar Danbatta addressed the participants and observers on the imperative of the spectrum auction.
In his address, Pantami traced the journey from 2019 when the 5G technology was tested in Lagos, Abuja and some other cities in Nigeria and found to be suitable and desirable for the country. He also reminded the audience that the test was also followed by an investigation on claims the technology had health dangers. He said the result of the investigation showed 5G technology had no health hazards.
He expressed optimism that by 2022 Nigeria will have the largest 5G coverage in Africa. He is also of the opinion that 5G, could solve, among others, some of the security challenges in the country, since the technology provides real-time services and platforms.
