The Federal Ministry of Communications says it has brought the federal government $1.054 trillion in revenue.

 The Federal Ministry of Communications and Digital Economy says that it has brought the Federal government $ 1.054 trillion in revenue in two years.


Isa Pantami, Minister of Communications and Digital Economy, spoke during the virtual inauguration of the 12th series of Digital Economy projects at the Digital Economy Complex, Mbora, Abuja.

Federal Ministry of Communications


Pantami said the communications and digital economy sector played a huge role in pulling the country out of recession, with ICT recording the highest growth rates in the fourth quarter of 2020.


"The ministry's initiatives aim to support the federal government in its three main priority areas- the economy, security, and the fight against corruption," he said.


"Our activities in the communications and digital economy sector have significantly strengthened the Nigerian economy. For example, the sector played a key role in lifting the Nigerian economy out of recession, with the ICT sector showing the highest growth rate in Q4 2020 (14.70%), as reported by the National Bureau of Statistics (NBS) and stated by Mr. President.


"This growth rate was the only double-digit growth rate, and it exceeded the combined growth rates of all the 2-7 fastest-growing sectors. The ICT sector also had the highest growth rates in 2020 and Q1 2021.


"It is also noteworthy that the telecommunications subsector grew by 15.90%, and this was the highest growth rate in the last decade.


"In addition, the ministry and its parastatal institutions have provided more than $ 1 trillion to the federal government in less than 2 years, which is an average of about $ 44 billion per month or more than $ 1.4 billion per day."


Pantami added that about $ 360 billion in revenue was mainly from Spectrum allocated by the National Frequency Management Board (NFMC) under the chairmanship of the Minister of the Nigerian Communications Commission (NCC) and the National Broadcasting Commission (NBC) for commercial purposes.


He added that more than $ 600 billion was paid by ICT companies to the federal government account through the Federal Internal Revenue Service (FIRS).


"In addition, more than ninety-four billion naira *94 000 000 000 000) was received for the federal government and approved by the National Assembly in accordance with the relevant laws within the framework of the 2020 allocations for personnel, capital projects, capacity building, activities, etc.


"The IT project cleanup program has also saved more than five billion Naira (N5,478,007,325,23) for the federal government."


Pantami noted that the statistics and figures discussed earlier were obtained from various reports submitted by the Ministry and parastatal bodies under its supervision.


He thanked the heads of all parastatal enterprises under the Ministry for their commitment and urged them to redouble their efforts to develop the digital economy of Nigeria.


Pantami also called on all host communities and beneficiaries of the Ministry's projects and programs to ensure that they make full use of opportunities and skills for the benefit of their communities and the nation.


The digital economy projects that have been opened include the E-Accessibility Center at the Bauchi State School for Orphans and Vulnerable Groups, Bauchi; the Digital Economy Center and the e-Learning Center at Ogba Primary School, Lagos; the Digital Economy Center and the e-Learning Center at St. Paul's High School, Eke, Enugu.


Digital Economy Center and E-Learning Center at the Federal Character Commission, Abuja; Emergency Communication Center at Leko Abdulrahman Hospital, Daura; E-Accessibility Center at Alderstown Schools for the Deaf, Warri; and Virtual Exam Center at the College of Education, Argungu, Kebbi State.

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