Mafab Communications Limited and MTN Nigeria have emerged winners of the bid for the 5G spectrum auctioned by the Nigerian government on Monday.

MTN Nigeria and Mafab Communications won the two spots in the 3.5GHz spectrum auction for the Fifth Generation (5G) network licenses over Airtel, according to the Nigerian Communications Commission (NCC).

The auction for the available two slots in the 3.5 GHz spectrum was held at the Transcorp Hotel in Abuja by the Nigerian Communications Commission.

Using the Ascending Clock Auction System, MTN Nigeria, Mafab Communications Ltd, and Airtel Networks Ltd competed for the contract.

Following an initial round on Monday, each firm proceeded through a bidding chamber.

The State Security Services (SSS) was tasked with keeping an eye on the company officials, who were not permitted to leave the room until the procedure was completed.

The base price was set at $197.4 million by the commission. The two winners were awarded $273 million by the regulator, according to the NCC‘s spokesman, Ikechukwu Adinde.

Earlier in the event, Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, stated that Nigeria aspires to have the largest 5G network in Africa by 2022.

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