He said this on Friday in Kano during a press briefing about the implications of the use and selling of private mobile radio.
Pantami claimed that if properly handled, the 5G Spectrum might boost Nigeria's economy.
He was represented by Dr Famous Eseduwo, the Director of Human Resources in the ministry.
The minister said, “Spectrum licence is required to transmit radio waves within assigned spectrum so that the economic benefits can be harnessed.
“When the 5G network is deployed, the benefits are huge and create opportunities to engender accelerated growth and smart living in the country.
“The technology is also expected to bring substantial network improvements, including higher connection speed, mobility, capacity and low latency capabilities.
“5G network will play an integral part in speeding up the wireless communication, enabling virtual reality and connecting millions of devices we use today,” he said.
Pantami referred to the 5G spectrum as a crucial national asset and cautioned against its abuse, stating that the federal government has constitutional authority over it.
In order to prevent income loss, he recommended Nigerians obtain the necessary licence from the Federal Ministry of Communications and issued a warning that unauthorised users would face legal repercussions.
The event was a part of the ministry's nationwide campaign to raise awareness against the improper use of private mobile radio.