The Nigerian Communications Commission (NCC) said it generated over N150 billion from spectrum license fees revenue source within the first five months of the year.
The statement said 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.
This reflects a significant contribution to the revenue drive of the Federal Government, it said.
The NCC added that the figure exceeded its N36 billion projected revenue from spectrum license fees for 2021.
The spokesperson of NCC, Ikechukwu Adinde, disclosed this in a statement on Sunday.
Spectrum means a continuous range of electromagnetic wave frequencies up to and including a frequency of 420 terahertz.
They are radio frequencies allocated to the mobile communications industry as well as other sectors for communication over airwaves and it is through this means that wireless communication is achieved.
The NCC regulates and manages the frequency spectrum for the telecommunications sector in Nigeria.
According to the statement, 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).
“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 the spectrum fee for the year 2021 but has remarkably surpassed this estimate,” it said.
The Executive Vice Chairman of the Commission, Umar Danbatta, said the impressive uptick in spectrum fee was the result of the favourable turn of events for the telecom sector.
Mr Danbatta 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 enthronement of effective regulation will continue to improve the general performance of the telecoms sector.
“On October 28, 2020, Danbatta told members of the 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,” the statement said.
“During the oversight visit, the Chairman of the Committee, Hon. Akeem Adeyemi, commended NCC’s Management for the feat and urged the Commission “to sustain its regime of effective regulation of the telecoms sector in a manner that would be more mutually beneficial to the industry stakeholders, including the consumers of the telecoms services, the operators and the Nigerian government.”
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...