THE Nigerian Communications Commission, NCC, generated more than N150 billion from spectrum license fees between January and May this year, exceeding its projected 2021 revenue of N36 billion from spectrum licensing as projected in its budget approved by the National Assembly.

This represents more than 400 per cent increase in revenue budget performance in respect of spectrum fees generated by the commission in the first five months of the year and a significant contribution to the revenue drive of the federal government.

A statement signed by Ikechukwu Adinde, director, Public Affairs, NCC said the money from spectrum license achieved in the first half of the year has been remitted to the government in line with the provisions of the Nigerian Communications Act (NCA), 2003, which mandates the Commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund, CRF.

Over the years, the NCC had put in place an effective regulatory regime that has significantly facilitated advancements in the nation’s telecoms industry, boosted Gross Domestic Product, GDP, and improved the operations of licensees as well as boosted federal government’s revenue generation.

On the revenue performance, Prof. Umar Garba Danbatta, executive vice chairman of the Commission, said that the impressive uptick in spectrum fee was the result of the favourable turn of events for the telecoms sector, which at the time of preparing the estimates for the 2021 Budget of the commission was not clear due to the ravaging impact of COVID-19 on the global economy.

Danbatta noted that the 10-year spectrum fees made by some of the major operators directly impacted the projected spectrum fee favourably, adding that the commission believes that enthronement of effective regulation will continue to improve the general performance of the telecoms sector.

 On October 28, 2020, Danbatta told members of the House Committee on Telecommunications while on an oversight function to the commission that the NCC had generated and remitted N344.71 billion to the Federal Government’s CRF in the last five years.

 During the oversight visit, the Chairman of the committee, Hon. Akeem Adeyemi, commended the NCC for the feat and urged the Commission “to sustain its regime of effective regulation of the telecoms sector in a manner that would be more mutually beneficial to the industry stakeholders, including the consumers of the telecoms services, the operators, and the Nigerian government. –  sourced from New Telegraph/News Express

– July 7, 2021 @ 09:49 GMT |