And Nigeria just auctioned off the 2.3GHz Spectrum

and Nigeria just auctioned off the 2.3GHz Spectrum

While sitting at one end of the hall analysing the automated auction process for the 2.3GHz Spectrum by the Nigeria Communications Commission NCC, at the Trasncorp Hilton Abuja few hours ago, a thought came to my mind.

The two companies that finally qualified were all Yoruba owned, Globacom and Bitflux. But the story of Biflux was of great interest to me.As soon as I heard last week that the starting price for the auction would be $23 million, I was worried for Bitflux.Where will they get such huge sum of money from. They ended up beating Globacom to it by offering $23,251,000 as against Globacom’s $23,051,000.

I spoke with the Chief Operating Officer of Globacom Mohammed Jameel after the bidding and he said that Globacom is of the view that the flow price was high for their business model.I know that Glo needs that spectrum so bad because they want to use it to rollout their fixed lines services due to the challenges of fiber cut and delay in getting approval to dig up ground to lay cables.

But Bitflux, a small consortium promoted by young men all of whom are between 44 and 48, Mr Tokunbo Talabi,Tunji Gafar and Biodun Omoniyi. How they managed to come together to form the consortium within so short a time was of great interest to me because I know them separately as VDT Communications Limited, Bitcom Systems Limited and Superflux International Limited.

The power to come together in business and in other things is an edge the Yoruba have over the Igbo. I know of so many successful Yoruba businesses that have made it big.

While nosing around, asking how they will be able to raise $23 million in 14 days and also pay the operating license fee of N155 million in 30 days or lose the spectrum, I was very reliably informed that they have big time Yoruba billionaires behind them because they know the potential of that spectrum.Who controls it today will control the Nigerian broadband tomorrow.

Why did Zinox and four other Igbo businesses pull out.Could they not have come together too.....

Am still thinking...but there is Harmattan in this city!

By Kelechi Deca
Editor at large, Newstrackers International