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Generated $547 million from the 5G auction.

Generated $547 million from the 5G auction.

On Tuesday, the President, Major General Muhammadu Buhari (ret. ), stated that the auctioning of the 5G spectrum alone produced $547 million.
He also praised the digital economy’s contributions to driving growth, creating jobs, and earning 594 percent of its revenue target for 2019, adding it has opened up more options for development finance.
According to a statement signed by Garba Shehu, Senior Special Assistant to the President on Media and Publicity headed ‘President Buhari applauds ICT industry for fostering growth, says $547 million generated from 5G auction,’
Buhari described the National Shared Services Centre as a “one-stop-shop for Ministries, Departments, and Agencies to engage with citizens,” saying it will provide services that are quick, secure, and seamless.
He revealed that the Information and Communications Technology Sector has accelerated the economy’s diversification, and the National Bureau of Statistics’ Q2 Gross Domestic Product Report showed an 18.44 percent contribution to the GDP, nearly three times the 6.33% contribution of the oil sector in the same quarter.
He noted that the increase of approximately 63 million in about two years has resulted in various calls for partnership from both African and non-African countries.
He stated that a variety of policies and programs have been designed to boost the productivity of the digital economy sector.
According to him, the National Policy on NIN-SIM Integration has improved the National Identification Number database’s integrity. In addition, he continued, the Nigerian Postal Service has been repositioned through the unbundling of its services to boost its efficiency and make it more viable as a revenue-generating government agency.
He also mentioned the Nigeria Startup Bill, which was signed into law on October 19, 2022, as a milestone legislation of his administration to “convert Nigeria’s pool of highly gifted young into a pool of highly innovative digital entrepreneurs.”
The President mentioned collaborations with prominent global ICT firms to teach Nigerians cutting-edge and in-demand digital skills.
They include, among other things, the training of five million Nigerians (a collaboration with Microsoft Corporation) and the training of one million Nigerians in blockchain technology, cybersecurity, and data analytics.
Prof. Isa Pantami, Minister of Communication and Digital Economy thanked the President for his support for the digital economy, citing increases in broadband/Internet penetration, skills acquisition for global competitiveness, and infrastructure development, such as the fiber optic cable, which was approximately 15,000 kilometers in 2015 and has since increased to more than 60,000 kilometers

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