The Federal Government through the Nigerian Communications Commission is set to make at least $1.09bn from the sale of four 5G spectrums.
The NCC revealed in a new Information Memorandum on the 3.5 GHz Spectrum Auction that it has set the reserve price for two more 5G spectrum licenses at $273.60m a piece.
It says the reserve price is the minimum price for one Lot of 100MHz TDD for a 10-year license tenure fixed at $273.60m or its equivalent in Naira at the prevailing Central Bank of Nigeria rates at the time of the auction.
The final cost of the available spectrum is expected to rise during the actual auction. The NCC set the reserve price for the 5G licenses that MTN and Mafab won at $197.4m, but they eventually paid $273.60m each for their licenses.