The Federal Government has recorded $547 million profit from the auction of 5G spectrum.
At the National Shared Services Centre in Abuja on Tuesday, President Muhammadu Buhari attributed the feat to the digital economy, which had driven growth, created employment and generated revenue for the country.
He noted that the centre would provide services that are swift, secure and seamless.
The President stated that the Information, Communication and Technology, ICT, Sector had accelerated the diversification of the economy.
He hinted that the Q2 Gross Domestic Product Report by the National Bureau of Statistics revealed that ICT contributed an unprecedented 18.44 per cent, which was three times higher than the 6.33 per cent contribution of the oil sector in the same quarter.
Buhari hinted that as part of efforts to expand the digital infrastructure, that Nigeria increased the 4G base stations from 13,823 to 36,751 from August 2019 to date.
This, he believed, increased the percentage of 4G coverage across the country from 23 per cent to 77.52 per cent also from August 2019 to date, adding that the Federal Government subsequently rolled out the 5G services.
He lauded the digital economy sector for generating revenue for the government.
”At the Ministerial Retreat that I chaired from the Oct. 18 to Oct. 19, 2022, our independent analysts adjudged the digital economy sector to have generated 594 per cent of its revenue target from the 2019 baseline", he added.
Buhari said that he was pleased to unveil and commission a number of initiatives that further expressed the government’s commitment to develop a sustainable digital economy in Nigeria.
He recalled that he launched the National Digital Economy Policy and Strategy for a Digital Nigeria on the 28th of November, 2019, expressing excitement with the giant strides recorded by the sector.
Buhari said that the digital economy facilitated continuity in governance during the restrictions caused by the COVID-19 pandemic.
He disclosed that his administration approved the National Policy on Virtual Engagements for Federal Public Institutions on the October, 14, 2020, which enabled the government to formalise online meetings.
The President stated that the commitment of his administration in promoting data and privacy was lauded across the world, which led to an increase of Nigeria's digital identity enrolments from 39 million in October 2020 to about 92 million presently.
He said that he approved the establishment of the Nigeria Data Protection Bureau on the February 14, 2022, meant to provide an institutional framework for data protection in Nigeria, in line with global best practices.
Buhari disclosed that the National Policy on NIN-SIM integration enhanced the integrity of the National Identification Number database.
He added that the Nigerian Postal Service has been repositioned through the unbundling of its services to make it more viable as a revenue generating agency of government.
The President listed the two subsidiaries under the Nigerian Postal Service as the Property & Development Company and Transport & Logistics Company.
He noted that he signed the Nigeria Start-up Bill into law on October 19, 2022.
Nigeria Start-up Act is a landmark legislation of the Buhari-led administration, targeted at transforming the highly talented youth in the country into highly innovative digital entrepreneurs.
Buhari hinted that five million Nigerians have been trained by leading global ICT companies on high demand digital skills as part of Nigeria's partnership with Microsoft Corporation.
He said that an additional one million Nigerians were also trained in areas such as block chain technologies, cyber security and data analytics.
Minister of Communication and Digital Economy, Isa Ali Pantami appreciated the President for his support for the digital economy.
He stated that the economy had witnessed turnovers in broadband/Internet penetration, skills acquisition for global competitiveness and infrastructure development, like the fiber optic cable, which was about 15,000kms in 2015, and increased to more than 60,000kms today.
Pantami noted that there had been 2,255 interventions and programmes in the higher institutions of learning, secondary schools, and some private schools.
He stated that the quarterly revenue from ICT rose from N51 billion to N418 billion, adding that some prominent institutions like the Massachusetts Institute of Technology, U.S., had indicated interest in researching the pace of growth in the sector.
The minister disclosed that many policy interventions had directly impacted on governance, institutions, markets and citizens, assuring that the ICT would enhance the process of diversifying the economy.
The Managing Director/Chief Executive Officer of the Galaxy Backbone, Prof. Muhammed Abubakar said that 400 MDAs were already connected to the National Shared Services Centre.
At the end, two young Nigerians, Kalim Haruna, who developed a system called 'Sharp-Sharp’ and Bashir Abubakar, founder of 'Africa First’, were honoured by the president for their creativity and ingenuity, and showcasing the nation’s talent in a global ICT conference.
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