The Information and Communication Technology (ICT) sector, according to Prof Isa Ali Pantami, Minister of Communications and Digital Economy, contributes at least US$ 3.4 million to Nigerian coffers every day.
Pantami said this at a virtual press briefing to commemorate the 2021 ‘Digital Nigeria Day’. He added that the communication and digital sectors generated approximately US$ 2.4 billion for the federal government between 2019 and 2021.
The minister, represented by Mr Bitrus Bako Nabasu, permanent secretary, Ministry of Communication and Digital Economy, further stated that the ICT sector has seen significant successes and had the most remarkable growth rate in 2020 and the first quarter of 2021.
“In less than two years, the ministry and its parastatals have generated over US$ 2.4 billion for the federal government.” The above mentioned equates to roughly US$ 10.6 million every month, or more than US$ 3.4 million per day.
The National Frequency Management Council (NFMC) allocated about US$ 874.4 million in spectrum, which accounted for the majority of the revenue. In addition, ICT companies paid US$ 145.7 million to the federal government’s account through the Federal Inland Revenue Service (FIRS),” he stated.
Following President Muhammadu Buhari’s declaration in 2020, Digital Nigeria Day was established to support the country’s digital economy development. Accordingly, he announced October 24 to be Digital Nigeria Day.