Business
By Benprince Ezeh
THE Nigerian Communications Commission, NCC, has said that 5G is expected to contribute over $2.2 trillion to the global economy by 2034.
Prof. Adeolu Akande, Chairman, Board of the NCC, said at the 3.5 GHz auction on Monday, December 13, 2021, in Abuja, that the impact of the 5G, on the economy of nation 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.
“I am highly pleased and honoured to welcome you all to the 3.5GHz auction, organised by NCC as part of its core mandate of regulating and managing the Nigerian communications sector. This 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,” he said.
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.
“I commend the minister of communications and digital economy, Professor Isa Ali Ibrahim Pantami, for his unflinching support, the Board of Commissioners, Management and staff of the Nigerian Communications Commission for putting all of these together.
“I will also like to thank the bidders for believing in the Nigerian Communications sector by their willingness to invest millions of dollars in the sector for the provision of 5G services. In NCC, we are committed to transparency and openness, which this auction represents. Therefore, we assure you of the openness and transparency of this process,” Akande added.
Tags: Benprince Ezeh NCC Prof. Adeolu Akande
