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NCC Remits N150bn To FG In 5 Months.

NCC Remits N150bn To FG In 5 Months.

The Nigerian Communications Commission (NCC) has exceeded its N36 billion projected revenue from spectrum license fees for 2021, having recorded over N150 billion from this revenue source within the five months of the year, the commission’ s Executive Vice Chairman Prof Umar Garba Danbatta has 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, Danbatta said in a statement on Sunday.

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, adding 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 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.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.”

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