FG to generate N500bn from 5G spectrum – NCC | TrendyNewsReporters FG to generate N500bn from 5G spectrum – NCC | TrendyNewsReporters

FG to generate N500bn from 5G spectrum – NCC


The Nigeria Communication Commission has said that the Federal Government will generate over N500bn in 2023 fiscal year through the 5G spectrum.

The Executive Vice Chairman of the NCC, Prof.Umar Danbatta, made this known on Monday at an  interactive meeting on 2023-2025 MTEF-FSP, organised by the Senate Committee on Finance.

Danbatta said the projected revenue would be realised from the auctioning of two 5G spectrums and the bidding process for auctioning  of the spectrums  in 2023.

He also disclosed that NCC had generated  N257 billion in the first quarter of 2022, while N195bn was  remitted to  government coffers.

The NCC boss added that from April to August, N318bn was generated while N214 was remitted.

According to him, the fund realised was occasioned by the auctioning of  two 5G spectrums at the rates of N263m and N273m dollars.

He said, “ The NCC from 2017 to 2021 had also  generated N799bn and remitted N423bn to the government.

He added, “The target was to hit 75 per cent penetration in 2025. Hopefully, we will achieve 50 per cent penetration by end of 2022.”

Danbatta advised Nigerians to make use of the 112 emergency national number to report issues of emergency  such as fire outbreak, accidents, among others, and a toll free number, 622, to lodge complaints on issues relating to drop calls.

The Chairman of the Committee, Senator Olamilekan Adeola, said the Senate would continue to encourage NCC to improve its revenue generation profile to the Federal Government.



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Get premium latest news For Free