5G: Buhari says Nigeria has raised $547m in auctions

The Federal Government has generated the sum of $547 million through 5G spectrum auctions so far this year.

This was revealed by the president Muhammadu Buhari on Tuesday at the inauguration of the National Shared Services Center, a one-stop-shop for Ministries, Departments and Agencies (MDA) interface with citizens, which also houses a Cyber ​​Security Operations Center, a Network Center and a Call Center in Abuja.

He also noted that Nigeria’s IT industry has contributed positively to the growth of the economy, with its contribution of 18.47% to the country’s GDP.

On the continuous growth of the Information, Communications and Technology (ICT) Sector towards economic diversification, said:

  • “As part of our efforts to expand our digital infrastructure; We increased our 4G base stations from 13,823 to 36,751 from August 2019 to date, and this has increased the 4G coverage percentage across the country from 23 percent to 77.52 percent also from August 2019 to date.
  • “We have also followed this with the rollout of 5G services.
  • “It is noteworthy that the digital economy sector has excelled in generating revenue for the government.

He stated that Nigeria’s digital economy had exceeded his expectations, citing 5G auction sales:

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  • “In particular, at the Ministerial Retreat that I chaired on October 18-19, 2022, our independent analysts determined that the digital economy sector had generated 594% of its revenue target from the 2019 baseline.
  • “This is highly commendable. As part of these unprecedented achievements, the industry generated more than $547 million from the 5G spectrum auction alone.”

He said that his administration has also contributed to the growth of the sector, through certain policies, including the suspension of excise taxes on telecommunications.

  • “These initiatives are part of our administration’s efforts to position the digital economy as a key enabler for the diversification of our economy and as a catalyst for the transformation of all sectors of our economy.
  • “You will remember that I presented and launched the National Digital Economy Policy and Strategy for a Digital Nigeria on November 28, 2019 and I am very proud of the leaps and unprecedented progress we have achieved in less than a year since the unveiling.
  • “To ensure that the digital economy sector continues to succeed and to reduce the burden on citizens, I recently approved the suspension of the proposed excise tax on the telecommunications sector, since no initiative would be carried out that would create difficulties for the citizens. ,’

Other policies, he said, include the approval of the National Virtual Commitment Policy for Federal Public Institutions on October 14, 2020, which allowed FG to formalize government meetings online.

He added that his administration’s commitment to promoting privacy and promoting data is receiving praise around the world and we have increased our digital identity enrollments from 39 million in October 2020 to around 92 million today.

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  • Our goal is to make Nigeria a global hub for digital talent. It was a bill initiated by the Honorable Minister of Communications and Digital Economy”, added.

In case you missed it

Nairametry latest report month than the Nigerian Communications Commission (NCC) It said that anyone interested in participating in the upcoming 3.5GHz spectrum auction for 5G will be required to pay the sum of $27.36 million as an Intent to Bid Deposit (IBD).

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