According to the Nigerian Communications Commission (NCC), Airtel Nigeria is the only telecom provider prepared to submit a bid for the 3.5GHz spectrum license required for the deployment of 5G technology.

In preparation for the auction scheduled for December 19, the telco was the first to pay the $27.36 million intention to bid deposit.

Only two telecom companies registered interest in the auction as of the deadline, which was Monday, December 5, 2022, according to an NCC statement obtained by Newsmen. Airtel and Standard Network & Connections Limited are the telcos.

A $27.36 million deposit represents 10% of the $273.6 million reserve price for the spectrum, it should be noted.

The NCC statement also revealed that Standard Network had sought for an extension in the deposit payment deadline. The regulator, though, rejected it.

“Only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable given the auction timetable,” the NCC said.

NCC announced that it will not carry on with the auction after Airtel emerged as the lone bidder. The spectrum will instead be divided into lots, with one lot going to Airtel.

“Having met all the provisions in the IM, Airtel has, therefore, emerged as the sole Bidder. Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process,” the Commission stated. 

The NCC confirmed plans to grant two more 5G licenses during an auction scheduled for later in the year in its Information Memorandum on 3.5 GHz Spectrum Auction published in October.

In an effort to sell the new 5G spectrums for a greater price, it had put the reserve price at $273.60 million.