Digital Economy: Ministry, NCC, others generate N1.05trn for Nigerian Government in 2 years ─Pantami

*Prof. Isa Ali Pantami, Honourable Minister for Communications and Digital Economy, at a forum explains how his Ministry and its parastatals, including the Nigerian Communications Commission, generated about N1.05trillion for the Federal Government with 14.7 percent growth in the ICT/Telecoms sector of the economy

Gbenga Kayode | ConsumerConnect

As part of their contributions to the advancement of the country’s digital economy, Prof. Isa Ali Pantami, Honourable Minister for Communications and Digital Economy, has disclosed how the Information and Communications Technology (ICT) and telecoms  sector of the Nigerian economy generated about N1.05trillion for the Federal Government in less than two years.

ConsumerConnect reports the Minister, who stated this development at the Digital Nigeria Day 2021 virtual press conference, held to celebrate the day, in Abuja, FCT, Sunday, October 24, 2021, said the sector also saved N5,478,007,325.23 for the government through its ICT projects clearing programmes within the period, agency report stated.

The Nigerian Government has adopted October 24 as ‘Digital Nigeria Day’ in order to  promote the development of the Digital Economy, aside from the day’s recognition by United Nations (UN) as the World Development Information Day.

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Represented at the forum by Mr. Bitrus Nabasu, Prof. Pantami stressed that the ICT/Telecoms sector of the Nigerian economy has played a huge role in lifting the WEsy African country out of recession in 2020.

The Minister further said that the Federal Ministry of Communications and Digital Economy (FMCDE) and its parastatals, including the Nigerian Communications Commission (NCC) and National Information Technology Development Agency (NITDA) had generated well over N1.4trillion for the Federal Government.

“This translates to an average of N44 billion monthly or over N1.4 billion.

“N1.05 trillion revenues were generated by the Ministry and its parastatals; furthermore, the ministry has saved for the FG through the ICT projects clearing programmes the sum of N5,478,007,325.23,’’ stated he.

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Pantami also noted: “That growth was 14.07 percent. This growth rate was the only double digit growth rate that exceeded the aggregate growth rate of all the seven fastest growing sectors.

According to him, the sector was the only sector with double digit growth rate among growing sectors in the country in the first quarter of 2020, as recorded by the National Bureau of Statistics (NBS).

“That growth was 14.07 percent. This growth rate was the only double digit growth rate that exceeded the aggregate growth rate of all the seven fastest growing sectors.

“The ICT sector had the highest growth rate in 2020 and in the first quarter of 2021,” the Mnister said.

He also noted: “The ministry and its parastatals have generated over N1trillion for the federal government in less than two years.

“This translates into an average of N44 billion monthly or over N1.4billion.

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“N1.05 trillion revenues was generated by the ministry and its parastatals; furthermore, the ministry has saved for the FG through the IT projects clearing programmes the sum of N5,478,007,325.23.’’

Of the amount generated within the period under consideration, Pantami  also disclosed the ICT companies paid over N600 million as tax into the account of the Federal Government through the Federal Inland Revenue Service (FIRS).

Policies for enabling environment, sustainable growth of digital economy

Pantami stated that over the last two years, a significant number of national policies have been developed to create an enabling environment for the sustainable growth of the communications and digital economy sector in Nigeria.

The policies, he noted, had led to the resolution of challenges that hitherto lingered for close to a decade.

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He stated: “Seventeen of these national policies have been developed and some others are being implemented.’’

He also listed some of the policies as the National Digital Economy Policy and Strategy (NDEPS) 2020-2030, Roadmap for the Implementation of NDEPS, and Nigeria National Broadband Plan 2020-2025.

Others were SIM Card Registration Policy, National Policy for the Promotion of Indigenous Content in the Nigerian Communication Sector, and National Policy on Virtual Engagements in Federal Public Institutions.

Besides, Pantami disclosed there were over 1,667 projects and centres established in the sector, while additional 455 are ongoing.

He stated that 219,196 citizens had benefited from diverse digital skills training programmes organised by the Minitry of Communications and Digital Economy.

“Such trainings include 200 women for ICT training and empowerment, 102 training of persons with disabilities, 296 persons trained on the Nigerian Data Protection Regulation, training of 21 Nigerian Army Personnel on cyber security.

“Capacity building programme for 1,120 artisans, 212,000 people registered on digital academy and online academies of the ministry, among others,’’ the Minister said.

According to him, there have been over 61 million National Identity Number (NIN) enrolment, and still counting in the country.

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