Nigeria will raise a total sum of N300 billion from the auction of the Fifth Generation Network (5G) Spectrum in year 2022, the Nigeria Communications Commission (NCC) has said.
According to the NCC, each slot of the 5G spectrum is going for an exact price of N75 billion, but added that in an auction, it can go for as high as N100 billion.
“The exact price for the spectrum auction in 2022 will give the federal government N300 billion. When the projected revenue is added to it, we are expecting well over N600 billion because it is an auction,” NCC’s Executive Vice Chairman, Prof. Umar Danbatta, stated during a budget defence session before the National Assembly’s joint committee on communications.
NCC which said its revenue target for 2022 fiscal year is N632.39 billion, reassured Nigerians that the recently launched 5G will not be hazardous in any way to users of the spectrum and Nigerians as a whole based on research already carried out.
According to him, the N632 billion targeted revenue will comprise of expected proceeds from 5G spectrum auction.
“Each slot of the 5G spectrum is going for an exact price of N75 billion. However, in an auction it can go as high as N100 billion.
“The exact price for the Spectrum auction in 2022 will give the federal government N300bn. When the projected revenue is added to it, we are expecting well over N600 billion because it is an auction.
“Our revenue in 2022 will be higher than what is being generated in 2021, which as at the end of September was about N315 billion.
“For the commission’s main budget, a sum of N86.2 billion is proposed for recurrent expenditures, N29.36 billion is for capital while N2.55 billion is earmarked for special projects”, he said .
When asked by the Chairman of the Committee, Senator Oluremi Tinubu (APC Lagos Central) and some members to speak on the safety of the 5G network, the NCC boss said nothing hazardous will happen from the network.
“Concerning the fear about the 5G spectrum, we share the same concern because it is justified and we have been sensitising Nigerians about the safety of the new technology.
“Up till date, there is no credible evidence about the health hazard of the 5G technology, therefore it is safe”, he assured.
He stressed that the 5G Spectrum network is good for the economy and the nation’s social transformation.