NCC Surpasses Revenue Projection, Earns N150bn From Spectrum License Fees

The Nigerian Communications Commission (NCC) disclosed that it earned over N150bn from spectrum license fees within the first five months of 2021, surpassing its projected revenue of N36bn.

The commission revealed this in a press statement titled ‘NCC surpasses revenue projection, post N150bn spectrum fee in five months’ issued recently 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.