“Issuance Of More 5G Licenses Not Good For Investors Now”

An Information and Communication Technology  (ICT) expert, Dr. Mohammed Mohammed has cautioned Nigeria Communications  Commission (NCC) to rescind its decision to issue more licenses for 5G services.

Speaking to newsmen in Kaduna on Tuesday, Muhammed noted that the NCC’s plan to auction two additional lots for the 3.5 GHz spectrum on 5G services was ill-timed, premature and capable of derailing investors’ confidence in the nation’s multi-billion dollars telecom industry.

Mohammed specifically reminded NCC of its word to winners of the pioneer auction in 2021 that the next allocation of the spectrum on 5G network would be in another 24 months to enable investors to recoup their money.

To him, the haste to auction two more lots of 3.5 GHz on the eve of an election year was due to greed by some politicians in the corridor of power to benefit from the outgoing administration at the detriment of investors who put in their hard-earned resources to develop the country’s telecommunication sector.

“It is obvious the NCC’s hands are tied and is operating under duress and at the behest of some unscrupulous elements in the corridor of power who would want to ensure they get a parting gift from this administration.

“How on earth should a regulator allow itself to be made a subject of ridicule and unreliability at a critical time that the nation is in dire need of investors to cushion the effect of the global economic meltdown?

“MTN and Mafab each had to cough out over  $273 million for a lot last year as pioneer 5G investors.

“As I am talking to you, Mafab is yet to roll out services on the lots auctioned to it last year let alone of getting back its invested money with profits. 

“It is callous, insensitive and lack of regard for investors by the regulatory body to renege on the promise made to these pioneer investors who put in their money as a sign of good faith and confidence in the country,” he decried.