Telecom
FG Generates $547M from 5G Spectrum Auction
President Muhammadu Buhari has commended the auctioning of the 5G spectrum, which generated 547 million dollars. The president attributed the feat to the digital economy, which had driven growth, created employment and generated revenue for the country.
The president said this at the National Shared Services Centre, a one-stop-shop for Ministries, Departments and Agencies to (MDAs) interface with citizens, which also houses a Cyber Security Operations Centre, Network Centre and Call Centre in Abuja on Tuesday.
According to the president, the National Shared Services Centre will provide services that are “swift, secure and seamless’’. Buhari noted that the Information, Communication and Technology Sector (ICT) had accelerated diversification of the economy.
He said the Q2 Gross Domestic Product Report by the National Bureau of Statistics showed the extent of growth, with the ICT contributing an unprecedented 18.44 per cent to the GDP, close to three times the 6.33 per cent contribution of the oil sector in the same quarter.
“As part of our efforts to expand our digital infrastructure; we increased our 4G base stations from 13,823 to 36,751 from August 2019 to date, and this has increased the percentage of 4G coverage across the country from 23 per cent to 77.52 per cent also from August 2019 to date.
”We have also followed this up with roll-out of 5G services. It is noteworthy that the digital economy sector has excelled in generating revenue for the government.
”In particular, at the Ministerial Retreat that I chaired from the Oct. 18 to Oct. 19, 2022, our independent analysts adjudged the digital economy sector to have generated 594 per cent of its revenue target from the 2019 baseline”This is very commendable. As part of these unprecedented achievements, the sector generated over 547 million dollars from the auctioning of the 5G spectrum alone,’’ he said.
Buhari said he was pleased to unveil and commission a number of initiatives that further express the government’s commitment to develop a sustainable digital economy in Nigeria.
“These initiatives are part of our administration’s efforts to position the digital economy as a key enabler for the diversification of our economy and as a catalyst for the transformation of every sector of our economy.
“You will recall that I unveiled and launched the National Digital Economy Policy and Strategy for a Digital Nigeria on the 28th of November, 2019 and I am very proud of the giant strides and the unprecedented progress that we have made in in less than one year since the unveiling.
“To ensure that the digital economy sector remains successful and in order to reduce the burden on citizens, I recently approved the suspension of the proposed excise duty in the telecoms sector, as any initiative that will lead to hardship for the citizens would not be pursued,’’ the president said.
Buhari said the digital economy ensured continuity in governance during the restrictions that came into force as a result of the COVID-19 pandemic.
“We approved the National Policy on Virtual Engagements for Federal Public Institutions on the Oct. 14, 2020 and this enabled us to formalise government online meetings.
”As such statutory meetings like the Federal Executive Council meetings, Council of State meetings and other meetings can now take place online, effectively and legally.
“Our administration’s commitment to promoting data promotion and privacy is receiving praise across the world and we have increased our digital identity enrolments from 39 million in October 2020 to about 92 million today.
“The massive increase of about 63 million in about two years is a global success story and has led to several requests for partnership from countries within and outside Africa.
”I also approved the establishment of the Nigeria Data Protection Bureau on the Feb. 14, to provide an institutional framework for data protection in Nigeria, in line with global best practices,” the president told the gathering of ICT experts and government officials.
He said a number of policies and programmes to enhance the productivity of the digital economy sector had been developed.
According to him, the National Policy on NIN-SIM integration has enhanced the integrity of the National Identification Number database.
”Similarly, the Nigerian Postal Service has been repositioned through the unbundling of its services to increase its efficiency and make it more viable as a revenue generating agency of government.
”The two subsidiaries are the Property & Development Company and the Transport & Logistics Company.
“As part of the NDEPS, I approved the Oct. 24 as the Digital Nigeria Day. I am delighted that the maiden Digital Nigeria International Conference and Exhibitions commenced on the 24th of October 2022.
”I am confident that the outcome of the conference as noted in the communiqué will support the growth of the digital economy sector. I signed the Nigeria Start-up Bill into law on the Oct. 19 2022,” he said.
According to him, the Nigeria Start-up Act is a landmark legislation of this administration to transform the pool of highly talented youth in the country into a pool of highly innovative digital entrepreneurs.
”We aim to make Nigeria a global hub for digital talent. It was an executive bill that was initiated by the Honourable Minister of Communications and Digital Economy,” he added.
Buhari also noted partnerships with leading global ICT companies to train Nigerians in cutting edge and high demand digital skills.
“This includes the training of five million Nigerians as part of a partnership with Microsoft Corporation.
”It also includes the training of an additional one million Nigerians in skills in areas such as block chain technologies, cyber security and data analytics, among others,” he stated.
Buhari commended the giant strides made by the digital economy sector under the Minister of Communications and Digital Economy and other stakeholders, describing it as impressive.
In his remarks, Minister of Communication and Digital Economy, Isa Ali Pantami appreciated the President for his support for the digital economy.
He noted that the economy had witnessed turnovers in broadband/Internet penetration, skills acquisition for global competitiveness and infrastructure development, like the fiber optic cable, which was about 15,000kms in 2015, and increased to more than 60,000kms.
Pantami said there had been 2,255 interventions and programmes in the higher institutions of learning, secondary schools, and some private schools, and the quarterly revenue from ICT rose from N51 billion to N418 billion.
He added that some prominent institutions like the Massachusetts Institute of Technology, U.S., had shown interest in researching the pace of growth in the sector.
The minister listed many policy interventions that had directly impacted on governance, institutions, markets and citizens, assuring that the ICT would enhance the process of diversifying the economy.
Prof. Muhammed Abubakar, the Managing Director/Chief Executive Officer of the Galaxy Backbone, said 400 MDAs Agencies were already connected to the National Shared Services Centre.
At the close of the event, two young Nigerians, Kalim Haruna, who developed a system called “Sharp-Sharp’’ and Bashir Abubakar, founder of “Africa First’’, were honoured by the president for their creativity and ingenuity, and showcasing the nation’s talent in a global ICT conference.
Quest Merchant Bank has been appointed as Transaction Advisor for Project BRIDGE, a broadband infrastructure initiative of the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), led by Bosun Tijani, the minister.
Project BRIDGE, short for Broadband Infrastructure Development for Digital Economy, is designed to deepen Nigeria’s digital backbone through the deployment of about 90,000 kilometres of open-access fibre-optic cables nationwide.
The initiative is expected to boost broadband penetration, strengthen connectivity and drive inclusive economic growth.
Under the mandate, Quest Merchant Bank will work with the ministry and the Project Implementation Unit to structure the project’s financial and commercial framework.
This includes developing bankable investment models, engaging investors and designing a public-private partnership structure to ensure efficient execution and sustainability.
Afolabi Olorode, acting managing director, described the project as a critical intervention for Nigeria’s digital economy.
“Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy. We are honoured to partner with the FMCIDE under the leadership of Honourable Minister, Dr Bosun Tijani on this important initiative,” he said.
He added that the bank would leverage its expertise in infrastructure finance to develop “a robust and investable framework that will attract private capital and support long-term national development.”
Also speaking, Yetunde Falore, head of Investment Banking at Quest Merchant Bank, said the project comes at a defining moment for Nigeria’s digital economy.
“Nigeria’s digital economy is entering a defining phase, and infrastructure initiatives such as Project BRIDGE will play a central role in expanding connectivity, deepening digital inclusion, and supporting sustainable economic growth,” she stated.
Falore noted that the bank would focus on ensuring the timely and efficient delivery of the project in its advisory role.
The initiative aligns with the Renewed Hope agenda of President Bola Ahmed Tinubu, which prioritises digital infrastructure expansion and private sector participation in critical national assets.
Kenya’s High Court has ruled that mobile phone numbers are not disposable assets, but constitutionally protected digital identifiers, striking at the core of a long-standing industry practice of arbitrarily reassigning inactive SIM cards without the owners’ consent.
In a landmark decision that could reshape telecom regulation and digital identity frameworks across Africa, sitting at Milimani Law Courts in Nairobi, Justice Lawrence Mugambi declared that reassigning a phone number without the original owner’s consent violates the right to privacy.
The ruling effectively elevates a SIM card into the same legal category as personal data tied to an individual’s private life.
At the heart of the ruling is Article 31 of the Constitution, which safeguards citizens from unnecessary disclosure of private information and interference with communications.
The court found that in today’s digital economy, a registered mobile number functions as a critical gateway to sensitive personal data, linking users to mobile money platforms like M-PESA, banking systems, email accounts, and social media profiles.
“When mobile digital identity is lost through reallocation or recycling without interrogating the reasons behind inactivity, it creates an avenue for unauthorised disclosure of delicate information,” the judgment stated.
The case, brought by Erastus Ngura Odhiambo, petitioner and former prisoner, challenged the routine telecoms practice of deactivating SIM cards after prolonged inactivity and reassigning them to new users.
Odhiambo lost access to his mobile phone number due to inactivity while serving his lengthy sentence.
He argued that the practice exposes individuals to serious risks, including misdirected financial transactions, intercepted one-time passwords, and unintended access to private communications.
The court agreed, highlighting how recycled numbers can result in strangers receiving confidential messages, authentication codes, and even being added to private messaging groups, effectively inheriting fragments of another person’s digital life.
Justice Mugambi also criticised the rigidity of SIM deactivation policies, calling them “arbitrary” for failing to consider legitimate reasons for inactivity such as incarceration, studying in restricted environments, or living abroad.
“Incarceration does not strip an individual of their constitutional rights to privacy and identity,” he noted.
For telecom operators, including Safaricom, the ruling introduces a significant compliance burden. The court outlined three strict conditions before any number can be reassigned.
Telcos must obtain informed and verifiable consent from the original owner, issue a public notice and conduct traceability efforts over a reasonable period.
More importantly, the court further directed that telecoms firms must implement technical safeguards to prevent data exposure to the new user.
The Office of the Attorney General has been given six months to translate these directives into enforceable regulations.
Binance Earn offers cryptocurrency users an accessible way to generate rewards on idle digital assets without active trading or constant market monitoring.
Binance Earn
As the crypto market matures, more holders seek productive uses for their assets rather than leaving them dormant in wallets. Binance addresses this through Binance Earn, where users allocate supported cryptocurrencies to various reward products for automatic yield generation.
The platform emphasises simplicity with a “set-and-forget” model: users select assets, pick a product, and rewards accrue passively in the background. This appeals especially to long-term holders aiming to enhance portfolio value over time without day-to-day involvement.
Binance Earn provides flexible options for instant liquidity access alongside fixed-term products for defined commitments, catering to diverse strategies and risk appetites.
“We’re seeing growing interest across Africa in ways to make crypto holdings more productive without active trading,” said Larry Cooke, Africa Head of Legal at Binance. “Simple, ‘set-and-forget’ solutions are becoming increasingly relevant as more users take a longer-term approach to digital assets.”
The feature reflects shifting user behaviour towards holding and gradual growth amid volatile markets, where reward rates fluctuate based on conditions, liquidity, and structures.
Users must assess risks and alignment with personal goals, as crypto remains volatile. Binance Earn positions itself as a key tool in Africa’s rising digital asset adoption, enabling hands-off participation in the ecosystem.
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