Buhari: $547m generated from 5G auction speaks volumes of big prospects in ICT

President Muhammadu Buhari has said the $547 million income generated from the auctioning of the 5G spectrum confirms the prospects in ICT to boost the Nigerian economy.

He said the sector also provides a veritable option for funding development, creating employment and generating revenue for the country.

The President made the remarks on Tuesday while commissioning the National Shared Services Centre, a one-stop-shop for Ministries, Departments and Agencies to interface with citizens, which also houses a Cybersecurity Operations Centre, Network Centre and Call Centre.

Buhari was accompanied by the Minister of Communications and Digital Economy, Prof. Isa Alli Ibrahim Pantami to the event in Abuja.

Reeling out the benefits of the network provider, the President said the National Shared Services Centre will revolutionise services that are “swift, secure and seamless.”

According to the President, ICT contributes 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.

“Information, Communication and Technology Sector (ICT) accelerated diversification of the economy and Q2 Gross Domestic Product Report by the National Bureau of Statistics showed the extent of growth,” Buhari noted.

The President, however, reiterated his impact in the sector, saying as part of efforts to expand the digital infrastructure, saw an increase in 4G base stations from 13,823 to 36,751 from August 2019 to date.

“We increased the percentage of 4G coverage across the country from 23 per cent to 77.52 per cent, and from August 2019 to date. We have also followed this up with roll-out of 5G services,” he boasted.