Over N1.4 billion is generated every day by the Information and Communication Technology (ICT) sector to the Nigerian coffers, according to Prof Isa Ali Pantami, Minister of Communications and Digital Economy.
Pantami, who stated this at a virtual press briefing to mark the 2021 ‘Digital Nigeria Day’, stressed that the communication and digital sector has generated over N1 trillion to the Federal Government between 2019 and 2021.
Represented by Mr. Bitrus Bako Nabasu, permanent secretary, Ministry of Communication and Digital Economy, the minister also said that 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 N1trillion 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 N600billion was paid by ICT companies to the account of the federal government through the Federal Inland Revenue Service(FIRS),” he said.