With the Federal Government optimistic about December 13 Fifth Generation (5G) network spectrum auction in Nigeria, the reserve price (RP) bid of $194.7 million (N75 billion) has been ranked among the costliest in the world but topped prices from nations like India and South Africa.
Though the environments vary, RP in the USA, China, Germany, Brazil appear to be the highest in the world, according to findings by The Guardian.
For instance, RP in the USA is around $81billion; UK, £1.1 billion; Germany, €1.5 billion and Brazil, $8.5 billion. On the other hand, RP in India was pegged at INR4.92 billion ($66.2 million), South Africa between $588, 000 and $4.5 million. In Egypt, the regulator is offering 60MHz of 2600MHz spectrum with a reserve price of $150 million per 10MHz.
The Nigerian Communications Commission (NCC), which will conduct the auction in the country, had stated that interested operators are expected to pay 10 per cent of the reserved price of $197.4 million to qualify to participate in the auction. It added that two lots of 100MHz of the 3.5GHz spectrum would be auctioned next month at the RP.