Sidebar

Exclusive Reports

29
Fri, Mar

NCC Exceeds Its N36bn Projected revenue From Spectrum License Fees For 2021

Featured
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

The Nigerian Communications Commission (NCC) has exceeded its N36 billion projected revenue from spectrum license fees for 2021. This was disclosed on Sunday by the commission’s Executive Vice Chairman Prof Umar Garba Danbatta who said that it has recorded over N150 billion from this revenue source within the five months of the year. The figure represents over 400 percent increase in revenue budget performance in respect of spectrum fees generated by the Commission between January 1 and May 31, 2021, and the money made from spectrum sales reflects a significant contribution to the revenue drive of the Federal Government, Danbatta said in a statement.


“Accordingly, 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)”, he said.


He equally informed that 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 it 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”, Danbatta said.


He said 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 further noted that the 10-year spectrum fees made by some of the major operators directly impacted the projected spectrum fee favourably. He added that the Commission believes that the enthronement of effective regulation will continue to improve the general performance of the telecoms sector.

 

BLOG COMMENTS POWERED BY DISQUS