The auctioning of two 5G spectrums in 2023 is expected to bring in N500 billion for the federal govt, according to the Nigerian Communication Commission (NCC).
According to the executive vice-chairman, NCC, the board had started the auctioning procedure for the 5G spectrum. In Q1 2022, the NCC generated N257billion, of which N195billion was paid to the government. N318billion was generated in April to August, N214 billion was remitted to FG.
Nigeria currently has a 44% spectral efficiency rate, with a 75% penetration goal for 2025. The committee’s revenue will make a significant contribution to closing the budget deficit for 2023.