• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home News

FG Generated N408b from ICT Sector Spectrum Sales, Taxes

by Justice Godfrey Okamgba
October 24, 2022
in News
0

NITDA has intensified its commitment to create a digitally formidable Federal Civil Service in Nigeria

UBA
Advertisements

The Minister of Communications and Digital Economy, Dr. Isa Pantami, has said the quarterly revenues generated for the Federal Government rose from N51.3 billion to N408.7 billion through spectrum sales and taxes from the ICT sector.

Pantami disclosed this in a speech delivered at the third edition of Digital Nigeria Day on Monday. The speech highlighted some of the major milestones which

Today makes it 3 years since the Ministry of Communication and Digital Economy commenced the implementation of a Policy and Strategy for the development of a Digital Economy in Nigeria.

According to Pantami, the ICT sector provided 3 unprecedented contributions to the Gross Domestic Product (GDP) of the country in the last 3 years, namely 14.07% in Q1 2020, 17.92% in Q2 2021, and 18.44% in Q2 2022. At each time, these numbers are the highest ever contribution of the ICT sector to the GDP.  

“ICT sector grew by 14.70% in Q4 2020, making it the fastest-growing sector of the Nigerian economy in the last quarter of 2020 and the only sector to have grown by double digits. 

“This played a critical role in enabling Nigeria to exit the recession.  Furthermore,   the quarterly revenues also generated for the Federal Government rose from N51.3 billion to  N408.7 billion, through spectrum sales and taxes from the sector.”

Further, over 863,372 citizens benefited from digital skills programs and the Ministry has agreements with leading global companies like Microsoft and Huawei, to train millions of Nigerians.

When Pantami assumed office on the 21st of August 2019, the official broadband penetration figures stood at 33.72% and today it is 44.65%, representing close to 13 million new broadband users.

He noted that there were 13,823 4G base stations and now 36,751, representing a 165.86% increase.  The percentage of 4G coverage across the country also increased from 23% to 77.52%. 

Additionally, the cost of data has crashed from N1,200 per GB to about N350, making it easier for Nigerians to connect to the Internet.

“The quarterly savings from the IT projects’ clearance process rose from N12.45 million to N10.57 billion,” he noted

He said the government aims to create a pool of Innovation Driven Enterprises (IDEs) to accelerate the development of Nigeria’s digital economy.

“Through our efforts, 355,610 direct and indirect jobs were created. Privacy concerns are also being addressed through the newly established Nigeria Data Protection Bureau (NDPB).

“The drafting of the data protection bill has reached an advanced stage. The Digital Identity enrolments have also been very successful, with issued National Identification Numbers (NINs) rising from less than 40 million to over 90 million,” Pantami added.

Loading

Advertisements
MTN ADS

Author

  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

    View all posts
0Shares
Tags: ICTPantamiSpectrumtaxes
Justice Godfrey Okamgba

Justice Godfrey Okamgba

Next Post

CSOs Demand Africa Promotion of Human Rights in Cybersecurity Laws

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Perplexity AI Proposes Merger Deal with TikTok, Offering U.S. Government Stake

Perplexity AI Proposes Merger Deal with TikTok, Offering U.S. Government Stake

5 months ago
Joble by Nelson Tosin Ajulo, 15Wins Ventures

15Wins Ventures Set to Revolutionize Meeting Efficiency with Joble

10 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.