The Nigerian Communications Commission is about to surpass the price it sold GSM licenses 20 years ago in the recent auction for 2 slots of 3.5GHz spectrum license today in Abuja.
The bid has risen to the 11th round at $275, 904,886,25.
The GSM licenses auctioned in 2001 was at $285m.
Both MTN, Airtel and MAFAB communications have agreed to pay the price tag of $275, 904,886,25.
The spectrums are necessary to provide 5G services in the country.
There are only two slots which the three bidders are chasing.
It is yet to know who will first bat the eyelid.