The Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has said that the 5G is expected to contribute over $2.2 trillion to the global economy by 2034,
Speaking at the 3.5 GHz auction on Monday in Abuja, Akande said that the impact of the 5G, on the Nigerian economy was unprecedented, and according to the year 2020 global edition of the GSMA’s flagship Mobile Economy’ Report, 5G was forecasted to contribute $2.2 trillion to the global economy by 2034.
He noted that Nigerian auction process seeks to assign two slots of Spectrum to operators based on the highest valuation of the spectrum on offer and through a competitive process with three unique participants.
“It is worth noting that Spectrum auctions ensure the assignment of Spectrum through a transparent and competitive process, which in most cases bring to bear the true value of Spectrum.
“The main objective of this auction is not just the offer of a premium frequency, it also aims to support the deployment of 5G in Nigeria, which has been identified as a critical factor for the growth of the national digital economy. The full socio-economic benefits of 5G technology is largely dependent on access to a variety of spectrum resources,” the statement by the NCC on Thuesday in Abuja quoted Akande as saying..
According to him, Spectrum plays a strategic role in meeting the unstable demand for advanced mobile data services as well as a new wave of wireless broadband use cases such as remote object manipulation, industrial automation, virtual and augmented reality as well as next-generation connectivity for vehicles. These cases will continue to increase the impact that mobile services have on societies and economies.
“These impactful contributions will drive key industries such as manufacturing, utilities, professional and financial services. In fact several other fringe sectors will benefit immensely from the new technology. The importance of 5G technology to the economy of nations cannot be overemphasized. It is therefore with a sense of fulfilment that we acknowledge the giant leap forward that today’s auction represents. It is indeed a memorable milestone that Nigeria is set to auction Spectrum in the 3.5GHz for the deployment of 5G at this material time.
In his speech, Nigeria’s Minister of Communications and Digital Economy, Dr. ISA Pantami, said that 5G networks offered significant advantages over current technologies.
Pantami said that some of the advantages of Fifth Generation Network, 5G, included much lower latency, higher bandwidth, greater device density, longer battery life for nodes and greater network flexibility.
“We have already made a number of giant strides in the development of our digital economy and the deployment of 5G networks will further support our efforts. For example, it is worthy of note that, as of the 10th of December, 2021, we have exceeded the 70 million mark in unique NIN enrolments. You will recall that we had just over 40 million enrolments in September 2020. The additional enrolments, which are close to 30 million enrolments in a little over a year, constitute a truly great feat to the extent that other countries now want to learn from us.
In his welcome address at the event, the Executive Vice Chairman/CEO,of the Nigerian Communications Commission said that the commission was committed to deepening broadband penetration, protecting the consumers and ensuring smart deployment of infrastructure across the country.
Prof. Dambatta, said that the auction would herald a new era in mobile technology services deployment in Nigeria.
“Today’s auction is momentous in many regards and will usher Nigeria into the exclusive league of countries providing Fifth Generation Network, 5G, service across the globe.
“I am particularly pleased to be associated with this auction process because when His Excellency President Muhammadu Buhari, brought us on board in the year 2015, we took a decision to reposition the Commission on a path that will ensure the uptake of all the opportunities that abound in the communications sector.
“We committed ourselves to deepen broadband penetration, protect the consumers and the smart deployment of infrastructure across the country. We further committed ourselves to strategically playing our unique role in driving the digital economy to support the government’s economic diversification agenda,” he said.
According to him, the commission has ensured the implementation of policies for effective communications resource management, strategic collaboration, and partnership, facilitating broadband penetration and improvement of Quality of Service (QoS)/Quality of Experience.
“Through these initiatives and efforts, the Commission ensured participation in International Telecommunication Union, ITU, activities and other international fora to keep abreast with global development in the Communications sector.”
GIK/APA