President Muhammadu Buhari said the $547 million income generated from the auction of 5G spectrum underscores the prospects in information and communication technology to boost the Nigerian economy.
He said the sector also provides a real option for financing development, job creation and income generation for the country.
The president made the remarks on Tuesday while assigning the National Center for Shared Services, which is a one-stop-shop for ministries, departments and agencies to communicate with citizens, which also houses a cybersecurity operations center, network center and call center.
Buhari was accompanied by the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Bantami, at the event in Abuja.
Eliciting the benefits of the network provider, the president said the National Shared Services Center will revolutionize “fast, secure and seamless” services.
According to the president, information and communication technology contributes 18.44 percent to the gross domestic product, nearly three times the oil sector’s contribution of 6.33 percent in the same quarter.
Buhari noted, “The Information, Communication and Technology (ICT) sector accelerated the diversification of the economy, and the second-quarter GDP report issued by the National Bureau of Statistics showed the extent of the growth.”
However, the president emphasized his influence in the sector, saying that as part of efforts to expand digital infrastructure, he has seen an increase in 4G stations from 13,823 to 36,751 from August 2019 to date.
“We have increased 4G coverage across the country from 23 percent to 77.52 percent, from August 2019 to date. We have also followed this up with the rollout of 5G services.”
$ 547 million from the 5G auction speaks of great prospects in the field of information and communication technologies – Buhari