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Thursday, February 22, 2024

Nigeria’s 5G auction generates more than 500 mn USD

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Nigerian President Muhammadu Buhari said Africa’s largest economy has attracted 547 million US dollars from auctioning its 5G spectrum, attributing the feat to the growth of the digital economy.

Buhari said on Tuesday the digital economy had grown enormously, generated revenue for Nigeria and created employment for Nigerians. The president spoke at the launch of a national services center, a one-stop shop for ministries, departments and agencies to interface with local citizens in the Nigerian capital city of Abuja.

“These initiatives are part of our administration’s efforts to position the digital economy as a key enabler for the diversification of our economy and as a catalyst for the transformation of every sector of our economy,” the Nigerian leader said.

Buhari said as part of his administration’s efforts to expand digital infrastructure, the number of 4G base stations rose from 13,823 to 36,751 from August 2019 to date, increasing 4G coverage across the country from 23 percent to 77.52 percent during the same period.

He added that the administration has followed up with the rolling-out of 5G services, which is still at the trial stage.

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