Airtel Africa has emerged as the sole bidder for a 5G spectrum license in Nigeria’s second round of licensing after another company failed to pay a deposit to continue with the auction, the regulator said on Wednesday.

In December, 2021, the Nigerian Communications Commission (NCC) issued the country’s first 5G licenses to MTN Nigeria and Mafab Communications after the companies each paid $273.6 million.

NCC said Standard Network & Connections failed to pay the required intention to bid deposit, leaving Airtel the only bidder.

The telecom regulator has set a reserve price of $273.6 million for the new 5G spectrum license with a tenure of 10 years.