FG Rakes In $547m From 5G Auction | The Street Reporters Newspaper FG Rakes In $547m From 5G Auction | The Street Reporters Newspaper




President Muhammadu Buhari on 5G Auction

FG Rakes In $547m From 5G Auction

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President Muhammadu Buhari has commended the auctioning of the 5G spectrum, which generated 547 million dollars.

The president attributed the feat to the digital economy, which had driven growth, created employment and generated revenue for the country,

The president said this at the National Shared Services Centre, a one-stop-shop for Ministries, Departments and Agencies to (MDAs) interface with citizens, which also houses a Cyber Security Operations Centre, Network Centre and Call Centre in Abuja on Tuesday.

According to the president, the National Shared Services Centre will provide services that are “swift, secure and seamless’’.

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Buhari noted that the Information, Communication and Technology Sector (ICT) had accelerated diversification of the economy.

He said the Q2 Gross Domestic Product Report by the National Bureau of Statistics showed the extent of growth, with the ICT contributing an unprecedented 18.44 per cent to the GDP, close to three times the 6.33 per cent contribution of the oil sector in the same quarter.

“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 percentage of 4G coverage across the country from 23 per cent to 77.52 per cent also from August 2019 to date.

”We have also followed this up with roll-out of 5G services.

“It is noteworthy that the digital economy sector has excelled in generating revenue for the government.

”In particular, at the Ministerial Retreat that I chaired from the Oct. 18 to Oct. 19, 2022, our independent analysts adjudged the digital economy sector to have generated 594 per cent of its revenue target from the 2019 baseline.

”This is very commendable. As part of these unprecedented achievements, the sector generated over 547 million dollars from the auctioning of the 5G spectrum alone,’’ he said.

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Buhari said he was pleased to unveil and commission a number of initiatives that further express the government’s commitment to develop a sustainable digital economy in Nigeria.

“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 every sector of our economy.

“You will recall that I unveiled and launched the National Digital Economy Policy and Strategy for a Digital Nigeria on the 28th of November, 2019 and I am very proud of the giant strides and the unprecedented progress that we have made in in less than one year since the unveiling.

“To ensure that the digital economy sector remains successful and in order to reduce the burden on citizens, I recently approved the suspension of the proposed excise duty in the telecoms sector, as any initiative that will lead to hardship for the citizens would not be pursued,’’ the president said.

Buhari said the digital economy ensured continuity in governance during the restrictions that came into force as a result of the COVID-19 pandemic.

“We approved the National Policy on Virtual Engagements for Federal Public Institutions on the Oct. 14, 2020 and this enabled us to formalise government online meetings.

”As such statutory meetings like the Federal Executive Council meetings, Council of State meetings and other meetings can now take place online, effectively and legally.

“Our administration’s commitment to promoting data promotion and privacy is receiving praise across the world and we have increased our digital identity enrolments from 39 million in October 2020 to about 92 million today.

“The massive increase of about 63 million in about two years is a global success story and has led to several requests for partnership from countries within and outside Africa.

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”I also approved the establishment of the Nigeria Data Protection Bureau on the Feb. 14, to provide an institutional framework for data protection in Nigeria, in line with global best practices,” the president told the gathering of ICT experts and government officials.

He said a number of policies and programmes to enhance the productivity of the digital economy sector had been developed.

According to him, the National Policy on NIN-SIM integration has enhanced the integrity of the National Identification Number database.

”Similarly, the Nigerian Postal Service has been repositioned through the unbundling of its services to increase its efficiency and make it more viable as a revenue generating agency of government.

”The two subsidiaries are the Property & Development Company and the Transport & Logistics Company.

“As part of the NDEPS, I approved the Oct. 24 as the Digital Nigeria Day. I am delighted that the maiden Digital Nigeria International Conference and Exhibitions commenced on the 24th of October 2022.

”I am confident that the outcome of the conference as noted in the communiqué will support the growth of the digital economy sector.

“I signed the Nigeria Start-up Bill into law on the Oct. 19 2022,” he said.

According to him, the Nigeria Start-up Act is a landmark legislation of this administration to transform the pool of highly talented youth in the country into a pool of highly innovative digital entrepreneurs.

”We aim to make Nigeria a global hub for digital talent. It was an executive bill that was initiated by the Honourable Minister of Communications and Digital Economy,” he added.

Buhari also noted partnerships with leading global ICT companies to train Nigerians in cutting edge and high demand digital skills.

“This includes the training of five million Nigerians as part of a partnership with Microsoft Corporation.

”It also includes the training of an additional one million Nigerians in skills in areas such as block chain technologies, cyber security and data analytics, among others,” he stated.

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Buhari commended the giant strides made by the digital economy sector under the Minister of Communications and Digital Economy and other stakeholders, describing it as impressive.

In his remarks, Minister of Communication and Digital Economy, Isa Ali Pantami appreciated the President for his support for the digital economy.

He noted that the economy had witnessed turnovers in broadband/Internet penetration, skills acquisition for global competitiveness and infrastructure development, like the fiber optic cable, which was about 15,000kms in 2015, and increased to more than 60,000kms.

Pantami said there had been 2,255 interventions and programmes in the higher institutions of learning, secondary schools, and some private schools, and the quarterly revenue from ICT rose from N51 billion to N418 billion.

He added that some prominent institutions like the Massachusetts Institute of Technology, U.S., had shown interest in researching the pace of growth in the sector.

The minister listed many policy interventions that had directly impacted on governance, institutions, markets and citizens, assuring that the ICT would enhance the process of diversifying the economy.

The Managing Director/Chief Executive Officer of the Galaxy Backbone, Prof. Muhammed Abubakar said 400 MDAs Agencies were already connected to the National Shared Services Centre.

At the close of the event, two young Nigerians, Kalim Haruna, who developed a system called “Sharp-Sharp’’ and Bashir Abubakar, founder of “Africa First’’, were honoured by the president for their creativity and ingenuity, and showcasing the nation’s talent in a global ICT conference. (NAN)


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