The auction price for a slot of 5G spectrum has been pegged at N75 billion and will likely go to N100 billion after the auction process according to Professor Umar Danbatta,the Executive Vice Chairman of the Nigerian Communications Commission (NCC).
He spoke at a public hearing of the Senate Friday in Abuja.
According to him,fixing the minimum price is necessary as the auction price can go to as high as “N100 billion naira”.
Said he,“It is very important to stress this, a reserve price for a slot of the 5G spectrum is going to be N75billion, but after an auction by the Committee, it can go as high as N100 billion,” he told the Senate Committee on Communications.
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The NCC chief executive said that the 5G spectrum auction committee has virtually concluded their work was with the 5G deployment plan submitted to the federal government, adding that the telecom regulatory body is only waiting for the government to give an order to proceed.
He also spoke of with plans and preparations already in place adding that the 5G deployment will start in Nigeria by next year.