Bitflux Beats Glo In Nigerian Spectrum Licence Bid

Bitflux Communications Nigeria Limited bid $23.25million to emerge win of the 2.3GHz frequency spectrum offered by the National Communications Commission (NCC) on behalf of the Federal Government for broadband Internet services.

In an auction conducted by the NCC at the Transcorp Hilton Hotel, Abuja, yesterday, Bitflux offered $23, 251,000 ahead of Globacom’s $23,050,001 to win the bid. NCC had a reserve price of $23m.

Announcing the bid result, the Executive Vice Chairman, NCC, Dr. Eugene Juwah, said “With the bid price of $23.25 million bid by Bitflux, which is above what Glo offered, Bitfflux has won the one slot of 30Mhz of the 2.3GHz spectrum auction.” He said with the Bitflux has also become a ‘forerunner of broadband revolution’ in Nigeria.

Bitflux is a consortium of three companies including VDT, BitCom and Superflex while Globacom is Nigeria’s second largest mobile operator. The two companies emerged finalists for the auction bid out of 27 others, who expressed interest in the licence auction, having met all laid-down qualification criteria including the payment of the mandatory and non-refundable $2.3 million to the Commission, which represents 10 per cent of the reserve price.