The Nigerian Communications Commission (NCC) has generated N150 billion Spectrum revenue for the Federal Government between January and May 2021.
The Publisher Nigeria gathered that the revenue exceeded the commission’s N36 billion projected revenue from spectrum licence fees for 2021.
According to NCC’s Director of Public Affairs of NCC, Dr. Ikechukwu Adinde, the figure represents over 400 per cent increase in revenue budget performance on spectrum fees generated between January 1 and May 31, 2021.
Adinde announced in a statement that the feat reflected the “significant contribution to the revenue drive of the Federal Government”.
The agency’s spokesman said the N150 billion spectrum revenue achieved in the first half of the year had been remitted to the Federal Government, in line with the provisions of the Nigerian Communications Act (NCA), 2003, which mandate the commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund (CRF).
He said: “The commission, in its 2021 budget, which was considered and approved by both chambers of the National Assembly in December, 2020, projected a 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 the GDP, and improved the operations of licencees as well as boosted Federal Government’s revenue generation.”
The statement quoted NCC’s Executive Vice Chairman, Prof. Umar Danbatta, as saying the impressive uptick in spectrum fee was the result of the favourable turn of events for the telecom sector.
The development, 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.