NCC exceeds revenue target by 400%, hits N150b on spectrum sales

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NCC exceeds revenue target by 400%, hits N150b on spectrum sales

NCC NITDA
Nigerian Communications Commission

By Emmanuel Elebeke

The Nigerian Communications Commission (NCC) says it 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 figure, according to the Commission 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.

It however, stated that 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 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…



Source: Vanguard Newspaper

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