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NCC overshoots revenue target, makes N150b from spectrum

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Nigerian Communications Commission PHOTO:Twitter

The Nigerian Communications Commission (NCC) has exceeded its N36 billion projected revenue from spectrum license fees for 2021, recording N150 billion within five months.

The figure represents over 400 per cent increase in revenue performance in respect of the income generated by the regulator between January 1 and May 31, and reflecting significant contribution to the revenue drive of the Federal Government.

A statement by the commission’s Director of Public Affairs, Dr. Ikechukwu Adinde, said the money had been remitted to the Federal Government in line with the provisions of the Nigerian Communications Act (NCA) 2003 that mandate the agency to lodge proceeds from spectrum resources wholly in government’s Consolidated Revenue Fund (CRF).

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He clarified that the NCC, in its passed 2021 budget, had targeted N36 billion from spectrum for the whole year.

Adinde noted that over the years, his organisation has put in place an effective regulatory regime that had significantly facilitated advancements in the nation’s telecoms industry, boosted Gross Domestic Product (GDP) and improved the operations of licensees aside enhancing government’s revenue generation.

NCC’s Executive Vice Chairman and chief executive, Prof. Umar Garba Danbatta, said the impressive scorecard was due to favourable turn of events in the industry amid the COVID-19 pandemic.


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