NCC Earns N294.312bn From Regulatory Activities
The Nigerian Communications Commission (NCC),says it has raked a total of N294.312billion as proceeds from its regulatory mandates, which includes spectrum fees and has remitted same to the Consolidated Revenue Fund (CRF) of the Federal Government
The commission disclosed it remitted a total of N294.312billion being proceeds from spectrum fees to the CRF account, as part of its mandate to contribute signifiicant revenue to the coffers of the federal government.
A breakdown of the the commission’s generated revenue showed that the NCC also posted N248.339billion operating surplus, part of which was N71.97 billion from spectrum licence and Unified Access Services (UAS) licence, it received from MTN Nigeria, according to data from the Commission.
The commission equally stated that it earned N71.6billion from the spectrum licence, whereas it received N374.6million for the UAS licecne in settlement of their invoices for the 10-year period till August 31, 2031.
It said the N294.312 billion remitted to the Federal Government’s CRF account, represented cash received from spectrum fees from 2015 till date, while the N248.339billion operating surplus rcorded was for the same period under review.
Operating surplus according to Eurostat Statistics, an online platform, measures the difference between revenue and expenditure, that is, the surplus or deficit accruing from production.
According to Eurostat Statistics, “It is calculated before taking account of any interest, rent or similar charges payable on financial or tangible non-produced assets borrowed or rented by the enterprise or any interest, rent or similar receipts receivable on financial or tangible non-produced assets owned by the enterprise.”
It can be recalled that the apex telecoms sector regulator had said in July that it generated N150billion from spectrum licence fees in five months.
The Commission also stated that the cash received represented over 400 percent increase in revenue budget performance in respect of spectrum fees generated by the Commission between January 1 and May 31, 2021.
The commission noted that its performance reflects a significant contribution to the revenue drive of the federal government.
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