NCC Earns N150bn From Spectrum Licence Fees

The Nigerian Communications Commission has earned over N150 bn
from spectrum license fees within the first five months of 2021,
surpassing its projected revenue of N36 bn.

This was contained in a press release titled ‘NCC surpasses
revenue projection, post N150bn spectrum fee in five months’ issued
on Sunday by NCC’s Director of Public Affairs, Dr Ikechukwu
Adinde.

Adinde 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, reflecting
significant contribution to the revenue drive of the Federal
Government.

“Accordingly, the N150bn 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, 2003,
which mandates the commission to remit proceeds from spectrum
resources wholly into the government’s Consolidated Revenue
Fund.”

The press statement added that NCC’s Executive Vice Chairman,
Prof. Umar Danbatta, attributed the revenue boost to a favourable
turn of events for the telecom sector.

The Nigerian Communications Commission has earned over N150 bn
from spectrum license fees within the first five months of 2021,
surpassing its projected revenue of N36 bn.

This was contained in a press release titled ‘NCC surpasses
revenue projection, post N150bn spectrum fee in five months’ issued
on Sunday by NCC’s Director of Public Affairs, Dr Ikechukwu
Adinde.

Adinde 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, reflecting
significant contribution to the revenue drive of the Federal
Government.

“Accordingly, the N150bn 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, 2003,
which mandates the commission to remit proceeds from spectrum
resources wholly into the government’s Consolidated Revenue
Fund.”

The press statement added that NCC’s Executive Vice Chairman,
Prof. Umar Danbatta, attributed the revenue boost to a favourable
turn of events for the telecom sector.