The Nigerian Communications Commission (NCC) has generated N150 billion spectrum revenue for the Federal Government between January and May.
The revenue exceeded NCC’s N36 billion projected revenue from spectrum license fees for 2021.
According to Director of Public Affairs of NCC Dr Ikechukwu Adinde, the figure represents over 400 per cent increase in revenue budget performance in respect of spectrum fees generated between January 1 and May 31, 2021.
Adinde disclosed in a statement the feat reflects “significant contribution to the revenue drive of the Federal Government.”
He said the revenue 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).
Adinde said:” The Commission, in its 2021 Budget which was considered and approved by both chambers of the National Assembly in December 2020, projected revenue of N36 billion from spectrum fee for the year 2021 but has remarkably surpassed this estimate.
“Over the years, the NCC has put in place an effective regulatory regime which 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.”
He quoted Executive Vice Chairman of the Commission, Prof. Umar Danbatta, as saying 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 the 10-year spectrum fees made by some of the major operators directly impacted the projected spectrum fee favourably, adding 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 House Committee on Telecommunications the NCC had generated and remitted N344.71 billion to the Federal Government’s CRF in the last five years.