The Nigerian Communications Commission (NCC) issued an information memo (IM) for the 3.5 gigahertz (GHz) spectrum auction last year, and MTN Communications Nigeria (MTN Nigeria) Plc indicated it was ready to put out 5G services ahead of schedule.
The deployment of 5G services is planned to begin on August 24, following the terms and conditions of the 5G license. MTN Communications Nigeria (MTN Nigeria) Plc Chief Executive Officer Karl Toriola remarked in Lagos: "We are ready.
We commend the NCC on their open auction procedure, which resulted in us winning the license. A month ahead of schedule, we paid the total license price. In the NCC's release of an information memorandum, a timeframe indicated that we might begin in H2. When the IM enables us to launch, we'll investigate with the NCC if they allow us to do so... As a result, we are prepared well ahead of schedule.
Two slots were available at a $197.4 million reserve price for MTN and Mafab Communication Ltd. The two winners and Airtel Networks Ltd had submitted bids with an initial bid deposit (IBD) of $19.74 million as part of the auction process set up by the Commission in the IM by the close of the bid submission date on November 29 last year, representing 10% of the Reserve Price of the 3.5GHz spectrum. The remaining $253.86 million in the bid price was due by MTN and Mafab no later than February 24, 2022. Mafab paid towards the end of the deadline, but MTN paid before the time expired.
According to the auction's Information Memorandum (IM), the NCC has issued the final letters of award of the 5G spectrum to the two licensees, who are now expected to accelerate the deployment of the 5G network that will usher Nigeria into a more robust Fourth Industrial Revolution (4IR) and a more digitized Nigerian economy among the world's nations.
When fully implemented, the 5G network will provide several advantages and chances for the country's economic development and quality of life. Among other things, the technology is projected to boost network speed, mobility, capacity, and low-latency capabilities.
NFMC Chairman Prof. Isa Pantami, Minister of Communications and Digital Economy, on February 22, 2022, officially handed over the spectrum allocation for 5G deployment and the Federal Government's approved National Policy on 5G, which the Federal Government approved December of last year.
As a result, the Commission certified on February 24, 2022, that the two spectrum winners had paid the full $273.6 million each, including the spectrum assignment fee, for the 5G spectrum license.Related Posts
* NCC issues final 5G spectrum license letters to MTN and Mafab
* MTN introduces VoLTE call service (VoLTE)
* A 5G spectrum license cost MTN and Mafab $273.6 million each
Nigeria's National Broadband Plan (NNBP) 2020-2025, it's National Digital Economy Policy and Strategy (NDEPS) 2020-2030, and other sectoral policies aimed at enhancing the country's digital transformation will all benefit from the effective implementation of the National 5G Policy, the Commission believes.
Licensees must adhere to the NCC's timeframe for completing their 5G network rollout responsibilities. Still, to alter the nation's economy, the NCC relies on both the private sector and the government's collaborative efforts and assistance.