NCC beats expectation, hits N150bn revenue




Whatsapp News

Prof Umar Garba Danbatta, NCC boss

By Chijioke Kingsley

ABUJA (Sundiata Post) – The Nigerian Communications Commission (NCC) said it has so far made N150 billion as revenue generation in the first half of the year 2021.

NCC said the mile stone surppasses the projected target of N36 billion given as mandate by the commission.

The revenue from the spectrum license fees for 2021 was achieved within five months, a statement signed by the Commission’s Public Affairs Director, Dr. Ikechukwu Adinde said on Wednesday.

“The figure 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, reflecting significant contribution to the revenue drive of the Federal Government”.

Adinde said the N150 billion spectrum revenue achieved in the first half of the year 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).

Our correspondent gathered that 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.

However, commenting on the revenue performance, 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.

Sundaita Post recalls that on October 28, 2020, Danbatta told members of 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.