Buhari says $547m from 5G auction will fund development projects
Economy National

Buhari says $547m from 5G auction will fund development projects

By Our Correspondent

President Muhammadu Buhari says the $547 million generated from the 5G spectrum auction would further fuel developments in Nigeria.

Buhari announced this at the inauguration of the National Shared Services Centre, on Tuesday, in Abuja.

He said that the centre also houses a Cybersecurity Operations Centre, Network Centre and Call Centre.

The centre is a one-stop-shop for Ministries, Departments and Agencies to interface with citizens.
The President commended the contributions of the digital economy to Nigeria’s development, being driven by the Federal Ministry of Communications and Digital Economy.
Buhari said the Centre would provide swift, secure and seamless services.
The President was accompanied by the Minister of Communications and Digital Economy, Prof. Isa Pantami.
According to him, the Information, Communication and Technology Sector (ICT) had accelerated the diversification of Nigeria’s economy.
He pointed out that the second quarter’s 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.
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This, Buhari said, is close to three times the 6.33 per cent contribution of the oil sector in same quarter.

As part of our digital infrastructure expansion efforts, we’ve also increased our 4G base stations from 13,823 to 36,751.

“This has increased the percentage of 4G coverage from 23 per cent to 77.52 per cent, within same period.

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

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

The President recalled that at the Ministerial Retreat that he chaired October, the government’s independent analysts adjudged the digital economy sector to have generated high percentage of its revenue target from 2019.

“This is very commendable.

“As part of these achievements, the sector generated over $547 million from auctioning of the 5G spectrum,’’ Buhari said.


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1 Comment

  • Ellat June 28, 2024

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