• Wed. May 22nd, 2024


We Break the News

‘5G spectrum auctions generated $547 million for Nigeria in 2022’ – PMB

President Muhammadu Buhari (PMB) announced that this year’s 5G spectrum auctions had brought in $547 million for Nigeria, according to end of the year report.

This has demonstrated that the IT sector’s 18.47% contribution to the nation’s GDP has significantly impacted economic growth. ICT increased GDP by roughly three times as much as oil and gas in Q2 2022. In Q2 2022, ICT contributed almost 3 times as much as oil & gas to GDP.

The announcement was made this week at the inauguration of the National Shared Services Centre in Abuja, a one-stop shop for Ministries, Departments, and Agencies (MDAs) to interact with citizens, as well as a Cyber Security Operations Centre, Network Centre, and Call Centre.

In response to the continuing growth and the contribution of the Information, Communication, and Technology Sector (ICT) toward economic diversification, the president said:

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.

By News Editor

Our News Editor, Muyiwa is an information management expert and Development Blogger with more than a decade experience in investigative reporting and journalism. He is passionate about human angle stories to all social issues in Nigeria and Africa.