An economist, Dr Matthew Otoide has commended the board, management and staff of the Nigerian Communications Commission (NCC) for exceeding its projected revenue from spectrum license fees for 2021 from N36 billion to N150billion.
According to City Business News on Monday, Otoide also commended the Executive Vice-Chairman (EVC) of the Commission, Prof. Umar Danbatta for providing what he described as “quality leadership at this critical time“.
Otoide said: “I commend NCC for this good news. We (Nigeria) need more positive news like this. Other agencies should map out positive revenue strategies for the country“.
He described telecommunications as Nigeria’s “next oil“ based on “our huge population. This is also an opportnity to call on the Government to put all necesary infractrure in place. Adequate infrastructure means more revenue and employment opportunities for the country“.
NCC in a statement issued recently by its Director, Public Affairs, Dr Ikechukwu Adinde explained that the Commission recorded over N150 billion from this revenue source within the five months of the year.
According to Adinde, 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.
He said that this reflected significant contribution to the revenue drive of the Federal Government.
According to him, the N150 billion spectrum revenue achieved in the first half of the year has been remitted to the government in line with the provisions of the Nigerian Communications Act (NCA), 2003.
The act mandates the Commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund (CRF).
The Commission, in its 2021 Budget, 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.
He noted that over the years, the NCC had put in place an effective regulatory regime which had significantly facilitated advancements in the nation’s telecoms industry.
The director also said that it boosted Gross Domestic Product (GDP), and improved the operations of licensees as well as boosted the government’s revenue generation.
Commenting , Danbatta explained that the 10-year spectrum fees made by some of the major operators directly impacted the projected spectrum fee favourably.
The EVC, however, said that the commission believed that enthronement of effective regulation would continue to improve the general performance of the telecoms sector.