Ngozi Amuche
Nigerian Communications Commission said it contributed to the revenue drive of the Federal Government by generating and remitting N344.71 billion to the Consolidated Revenue Fund (CRF) in the last five years.
Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Garba Danbatta, disclosed this while briefing the House Committee on Telecommunication, in Abuja yesterday.
Danbatta told the Committee how the telecoms agency contributed to the revenue drive of the Federal Government by generating and remitting N344.71 billion to the Consolidated Revenue Fund (CRF) in the last five years.
He attributed the success of the Commission in the last five years to the harmonious relationship between the Commission and the National Assembly.
According to him, “through the support of the lawmakers, especially the House of Representatives Committee on Telecommunications, which the NCC leadership has worked with in the last five years; the Commission has been able to generate and remit N344.71 billion to the Federal Government Consolidated Revenue Fund (CRF) from spectrum fees and operating surplus”
“Between 2015 and September, 2020, active voice subscription has increased from 151 million to 205.25 million with a teledensity standing at 107.53 percent as at end of September, 2020”
“We are also empowering and protecting the consumers and ensuring we are able to sanitize the industry of improperly registered Subscriber Identification Module (SIM) cards, through our impartial regulatory approach.”
The NCC report added that the telecoms sector’s contribution to Gross Domestic Product (GDP) increased from 8.5 percent in 2015 to 14.30 percent as of the second quarter of 2020.
In monetary terms, the 14.30 percent translates to N2.272 trillion in Q2. The telecoms investment grew from around $38 billion in 2015 to over $70 billion in 2020.