ICT contributes N1.4bn into Nigeria’s coffers everyday – Pantami

At least N1.4 billion is generated every day by the Information and  Communication Technology (ICT) sector to the Nigerian coffers.

Minister of Communications and Digital Economy Prof Isa Ali Pantami stated this on  Sunday at a virtual press  briefing to mark the 2021 ‘Digital Nigeria Day.’

Represented by the permanent secretary,  Ministry of Communication and Digital Economy Mr Bitrus Bako Nabasu, the minister stressed that the communication and digital sector has generated over N1 trillion to the federal government between 2019 and 2021.

According to him, the ICT sector has not only witnessed great achievements but also had the highest growth rate in the year 2020 and the first quarter of 2021. 

“Additionally, the ministry and its parastatals have generated over N1 trillion for the federal government in less than two years. This translates to an average of about N44 billion every month or over N1.4 billion every day.

About N360 billion of this revenue was largely from spectrum, allocated by the National Frequency Management Council (NFMC). Another, over N600 billion was paid by ICT companies to the account of the federal government through the Federal Inland Revenue Service (FIRS),” he said.

Digital Nigeria Day celebration was  set aside to promote development of  digital economy in the country following Muhammadu Buhari declaration in 2020. He declared October 24, as Digital Nigeria Day.