The Nigerian Communications Commission (NCC) recorded over N150 billion revenue within five months, it was learnt.
The amount far exceeded the N36 billion projected revenue from spectrum license fees for 202, which represents over 400 per cent increase in revenue budget performance in respect of spectrum fees generated by the Commission between January 1 and May 31, 2021.
The N150 billion spectrum revenue, the commission said has been remitted to the Federal 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).
The Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta, said that the impressive uptick in spectrum fee was the result of the favourable turn of events for the telecom 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.
It wil be recalled that Danbatta had revealed that the NCC had generated and remitted N344.71 billion to the Federal Government’s CRF in the last five years.
