President Muhammadu Buhari has disclosed that the 5G spectrum auction generated $547m for Nigeria
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 (MDAs) to interface with citizens, which also houses a Cyber Security Operations Centre, Network Centre and Call Centre in Abuja on Tuesday, December 20, 2022.
According to the president, the National Shared Services Centre will provide services that are “swift, secure and seamless.”
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 October 18-19, 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 $547m from the auctioning of the 5G spectrum alone,’’ he said.
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 October 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.
“I also approved the establishment of the Nigeria Data Protection Bureau on February 14, 2022, 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.