A SPEECH DELIVERED BY PROF. ADEOLU AKANDE, CHAIRMAAN BOARD OF COMMISSIONERS NIGERIAN COMMUNICATIONS COMMISSION AT 3.5GHz AUCTION THAT Held AT THE TRANSCORP HILTON ABUJA ON DECEMBER 13, 2021..
Protocol
I am highly pleased and honoured to welcome you all to the 3.5GHz auction organized by Nigerian Communications Commission as part of its core mandate of regulating and managing the Nigerian Communications Sector. This auction process seeks to assign two (2) slots of Spectrum to operators based on the highest valuation of the spectrum on offer and through a competitive process with three (3) unique participants. It is worth noting that Spectrum auctions ensure the assignment of Spectrum through a transparent and competitive process which in most cases brings to bear on the true value of Spectrum.
The main objective of this auction is not just the offer of a premium frequency, it also aims to support the deployment of 5G in Nigeria, which has been identified as a critical factor for the growth of the national digital economy. The full socio- economic benefits of 5G technology 1s largely dependent on access to a variety of spectrum resources.
Consequently, Spectrum plays a strategic role in meeting the insatable demand for advanced mobile data services as well as a new wave of wireless broadband use cases such as remote object manipulation, industrial automation, virtual and augmented reality as well as next-generation connectivity for vehicles. These use cases will continue to increase the impact that mobile services have on societies and economies.
The impact of 5G technology on the economy of Nations is unprecedented, according to the year 2020 global edition of the GSMA’s flagship Mobile Economy’ Report, 5G 1s forecasted to contribute $2.2 trillion to the global economy by 2034.
Adewolu Akande
These impacttul contributions will drive key industries such as manutacturing, utilities, professional and financial services. In fact several other fringe sectors will benefit immensely from the new technology. The importance of 5G technology to economy of Nations cannot be overemphasized. It is therefore with a sense of fulfilment that we acknowledge the giant leap forward that today’s auction represents. It is indeed a memorable milestone that Nigeria is set to auction Spectrum in the 3.5GHz for the deployment of 5G at this material time.
I commend the Honourable Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami, for his unflinching support, the Board of Commissioners, Management and staff of the Nigerian Communications Commission for putting all of these together. I will also like to thank the bidders for believing in the Nigerian Communications Sector by their willingness to invest millions of dollars in the Sector for the provision of 5G services.
In NCC, we are committed to transparency and openness, which this auction represents. Therefore, we assure you of the openness and transparency of this process.
Thank you.
Prof. Adeolu Akande,
Chairman Board of Commissioners,
Nigerian Communications Commission.
