NCC makes N150b Spectrum revenue in five months

The Federal Government has received about N150 billion Spectrum revenue as generated by the Nigerian Communications Commission (NCC) between January and May 2021.

The NCC’s Director of Public Affairs of NCC, Dr. Ikechukwu Adinde, said between January 1 and May 31, 2021., the revenue generated exceeds 400 percent in revenue budget performance on spectrum fees

Adinde announced in a statement that the feat reflected the “significant contribution to the revenue drive of the Federal Government”.

The spokesman of the agency noted that in line with the provisions of the Nigerian Communications Act (NCA), 2003,3, which mandate the commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund (CRF), adding that the N150 billion spectrum revenue achieved in the first half of the year had been remitted to the Federal Government.

He said: “The commission, in its 2021 budget, which was considered and approved by both chambers of the National Assembly in December, 2020, projected a revenue of N36 billion from spectrum fee for the year 2021 but has remarkably surpassed this estimate.

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