FG Rakes Over 500m Dollarsrom 5G Spectrum Auction

FG has raised more than $500 million from its 5G spectrum auction.

NewsOnline Stating that Minister of Communications and Digital Economy Professor Ali Pantami He said the federal government has raised more than $500 million from the 5G Spectrum license auction.
He stated this at a press conference on involvement in the unauthorized use and sale of private mobile radio, onriday in Kano.

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Represented by Drios Isido, Director of Human Resources at the ministry, Pantami said 5G spectrum could support the Nigerian economy if managed well.

The minister said, “The frequency spectrum license is required to broadcast radio waves within the spectrum allocated to take advantage of the economic benefits.

“When the 5G network is deployed, the benefits are enormous and create opportunities for accelerated growth and smart living in the country.

The technology is also expected to bring significant improvements to the network, including higher connection speed, portability, capacity, and lower latency capabilities.

“5G will play an essential role in accelerating wireless communications, enabling virtual reality and connecting the millions of devices we use today,” he said.

Pantami called the 5G Spectrum a critical national aid and warned against its misuse, saying, “The control of the Spectrum is vested in the federal government, in line with the Constitution.”

Therefore, he advised Nigerians to obtain a proper license from theederal Ministry of Communications to guard against loss of revenue, warning against prosecution of unauthorized users.

The News Agency of Nigeria (NAN) reported that the event was part of a national outreach by the ministry to create awareness against the unauthorized use of private mobile radio.