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NCC Records 400% Increase in Revenue

NCC Records 400% Increase in Revenue 

The Nigerian Communications Commission NCC says it generated a total of N150 billion from spectrum licence fees between January and May 2021.

This was announced in a statement signed by the director of public affairs Ikechukwu Adinde on Sunday 4th July. According to the statement, the commission said it surpassed its N36 billion projected revenue from the spectrum fees for 2021.

NCC said the figure represents over 400 percent increase in revenue budget performance in respect of spectrum fees generated by the commission in five months. It said this reflects a significant contribution to the revenue drive of the federal government.

The commission 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 it to remit proceeds from spectrum resources wholly into the government’s consolidated revenue fund (CRF).

Incase you are wondering what a spectrum fee is, Spectrum fees are the charges to the radio frequencies allocated to the mobile industry and other sectors for communication over the airwaves.

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