{"id":102728,"date":"2021-11-04T17:54:43","date_gmt":"2021-11-04T16:54:43","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=102728"},"modified":"2021-11-04T17:54:43","modified_gmt":"2021-11-04T16:54:43","slug":"ncc-5g-spectrum-auction-holds-dec-13-at-197-4m-reserve-price","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/11\/04\/ncc-5g-spectrum-auction-holds-dec-13-at-197-4m-reserve-price\/","title":{"rendered":"NCC: 5G spectrum auction holds Dec 13 at $197.4m reserve price"},"content":{"rendered":"<p>The Nigerian Communications Commission (NCC) has stated that the upcoming spectrum auction for 5G services will hold December 13, 2021.<\/p>\n<p>This was announced on Thursday by director of spectrum administration at Nigerian Communications Commission (NCC), Oluwatoyin Asaju at a\u00a0stakeholders\u2019 consultative forum in Lagos.<\/p>\n<p>The commission had fixed the reserve price for the 3.5GHz spectrum auction at $197.4 million.<\/p>\n<p>A reserve price is a minimum amount that a seller will accept as the winning bid. In bidding process, it prevents a <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/10\/23\/forfeited-assets-allocated-to-118-successful-bidders-fg\/\">bidder<\/a> who offers a price lower than what the owner will accept from winning the auction<\/p>\n<p>Asaju said the commission would first hold a mock auction on December 10, 2021.<\/p>\n<p>\u201cA reserve price of approximately N75 billion (Seventy-Five Billion) Naira only, equivalent to One Hundred and Ninety-Seven Million and Four Hundred Thousand United States Dollars only (USS 197,400,000.00) is to be used,\u201d Asaju said.<\/p>\n<p>\u201cAn Initial Bid Deposit (IBD) equal to 10% of the reserve price is adopted in line with the previous auction.\u201d<\/p>\n<p>Asaju said the ascending clock auction process will be used.<\/p>\n<p>He said the auction will be software-based, adding that provisions have been made for the manual auction should the auction software fail during the auction process.<\/p>\n<p>On eligibility criteria for network operators, \u00a0 Asaju said only licensees with 100 percent regulatory compliance would be allowed to participate in the auction.<\/p>\n<p>\u201cNew entrants are allowed to participate in the auction in addition to existing licensees,\u201d he added.<\/p>\n<p>\u201cLicensees with outstanding debts that have secured Management\u2019s approval for a payment plan will be allowed to participate.\u201d<\/p>\n<p>According to the NCC, the stakeholder engagement forum is an important regulatory prerequisite for the planned auction of the 3.5Ghz spectrum, which is necessary for the rollout of the 5G network in Nigeria.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Communications Commission (NCC) has stated that the upcoming spectrum auction for 5G services will hold December 13, 2021. This was announced on Thursday by director of spectrum administration at Nigerian Communications Commission (NCC), Oluwatoyin Asaju at a\u00a0stakeholders\u2019 consultative forum in Lagos. The commission had fixed the reserve price for the 3.5GHz spectrum auction [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":102735,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[21581,21579,3405,21580],"class_list":["post-102728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-3-5ghz-spectrum","tag-5g-services","tag-ncc","tag-oluwatoyin-asaju"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NCC: 5G spectrum auction holds Dec 13 at $197.4m reserve price<\/title>\n<meta name=\"description\" content=\"The Nigerian Communications Commission (NCC) has stated that the upcoming spectrum auction for 5G services will hold December 13, 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/04\/ncc-5g-spectrum-auction-holds-dec-13-at-197-4m-reserve-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCC: 5G spectrum auction holds Dec 13 at $197.4m reserve price\" \/>\n<meta property=\"og:description\" content=\"The Nigerian Communications Commission (NCC) has stated that the upcoming spectrum auction for 5G services will hold December 13, 2021. 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