FG Earns $500m From 5G Spectrum Auction

The Federal Government has generated over $500 million from the 5G spectrum licence auction, Communications and Digital Economy Minister,  Ali Pantami, has said.

Pantami stated this at a news conference on the implication of unauthorised use and sale of private mobile radio, on Friday in Kano.

Pantami who was represented by Dr Famous Eseduwo, Director, Human Resources in the ministry, said the 5G Spectrum could support Nigeria’s economy if well managed.

His words: “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.

Pantami described 5G Spectrum as critical national asset and warned against its misuse, saying: “The control of Spectrum is vested with federal government, in line with the constitution.”