FG earned $500 million from 5G spectrum auction – Pantami
Minister of Communications and Digital Economy, Ali Pantami, said the federal government has generated over $500 million from the 5G spectrum licence auction.
Mr Pantami stated this at a news conference on the implication of unauthorised use and sale of private mobile radio, on Friday in Kano.
Represented by Famous Eseduwo, Director, Human Resources in the ministry, Mr Pantami said the 5G spectrum could support Nigeria’s economy if well managed.
The minister said, “Spectrum licence is required to transmit radio waves within assigned spectrum so that the economic benefits can be harnessed.
“When the 5G network is deployed, the benefits are huge and create opportunities to engender accelerated growth and smart living in the country.
“The technology is also expected to bring substantial network improvements, including higher connection speed, mobility, capacity and low latency capabilities.
“5G network will play an integral part in speeding up wireless communication, enabling virtual reality and connecting millions of devices we use today,” he said.
The Nigerian Communication Commission (NCC) had in September said it planned to generate N500 billion from the auctioning of two 5G spectrums in 2023.
Mr Pantami described the 5G spectrum as a critical national asset, saying, “the control of Spectrum is vested with federal government, in line with the constitution”.
He, therefore, advised Nigerians to obtain appropriate licence from his ministry to guard against loss of revenues, warning that unauthorised users would be prosecuted.
The event was part of the nationwide sensitisation by the ministry to create awareness against unauthorised use of private mobile radio.