The Nigerian Communications Commission plans to rake in $224m from the auctioning of 14 slots of 2.6GHz frequency for offering of broadband internet services across the country.
In an Information Memorandum released on its website on Saturday, the telecommunications regulatory agency set a reserve price of $16m for a slot of the frequency spectrum. One lot or slot of the frequency is made up of two portions of 5MHz.
It also proposed to hold an auction for the licensing process on May 16 in Abuja. Applicants are expected to submit all bidding documents by April 29.
While a reserve price of $16m had been set, actual price for the frequency spectrum can actually be much higher depending on the number of applicants that show interest and how much they are willing to commit on the frequency spectrum.
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