Telcos want auction price pegged at $50m for 5G

0
110
NCC LOGO

Telecommunications Operators (Telcos) are asking for an auction reserve price of $50 million for the 5G Network, even as the Nigerian Communications Commission (NCC) has shifted the auction date to December 13, 2021.

Already, Director of Spectrum Administration of NCC, Oluwatoyin Asaju, has disclosed a reserve price of average of $100 million for 3.5-3.6 and 3.7-3.8 had been fixed for intending Telcos.

He made the disclosure at a stakeholders’ consultative forum on the draft information memorandum for the 3.5Ghz spectrum auction on Thursday, in Lagos..

He said Telcos, as a condition, are also expected to make a 10 percent reserve price deposit. In his submission, the Project Director of Mobile Telecommunications of Nigeria (MTN), Abraham Orisadare, who made a presentation on behalf of the Telecoms, said an auction reserve price of $50 million was preferable by the Telcos.

Besides, he said a staggered payment option should be accepted by the NCC in view of the scorching economic situations in the country.

The balance, he said, should be paid over a five-year period taking into consideration the effect of COVID-19 on the industry and the economy. Telcos are also canvassing a 20 -year duration for the renewal of licenses in a bid to promote efficiency in the sector.

- Advertisement -

Firstbank