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FG To Generate N500bn From 5G Spectrums In 2023 — NCC Vice-Chair, Umar Danbatta

The auctioning of two 5G spectrums in 2023 is expected to bring in N500 billion for the federal government, according to the Nigerian Communication Commission (NCC).

The executive vice-chairman of the NCC, Umar Danbatta, made this statement at an interactive discussion on the 2023–2025 MTEF–FSP on Monday in Abuja, according to NAN.

According to Danbatta, the commission had started the auctioning procedure for the 5G spectrums.

He claimed that in the first quarter of 2022, the NCC generated N257 billion, of which N195 billion had already been paid to the government.

He continued by saying that the NCC generated N318 billion between April and August, of which N214 was repatriated.

“The fund realized was occasioned by the auctioning of two 5G spectrums at the rate of N263 million and N273 million,” he said.

“We also had from 2017 to 2021 also generated N799 billion and remitted N423 billion to the government.”

Danbatta further said the broadband penetration in Nigeria stood at 44 percent, with the target to hit 75 percent penetration in 2025.

He said the commission was hopeful of achieving 50 percent penetration by the end of 2022.

According to Danbatta, about 150 million Nigerians have access to the internet, and over 80 million have access to high-speed internet.

On his part, Solomon Adeola, chairman of the committee, applauded the effort of the commission.

Adeola said the revenue generated from the commission will go a long way to help reduce the deficit proposed in the 2023 budget.

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