N294.3bn Remitted By NCC To The Federal Government Consolidated Revenue Fund

Share, like and Comment

In a bid to fulfill its mandate and mission to federal government, the Nigerian Communictions Commssion has remitted a wooping sum of N294.312billion being proceeds from spectrum fees to the consolidated revenue funds CFR

The country’s telecoms regulatory Commission also disclosed that an operating surplus of N248.34bn including payments from MTN Nigeria amounting to N71.97bn from spectrum licence and Unified Access Services (UAS) licence.

According to the regulator, the N294.312bn remitted to the CRF represented cash received from spectrum fees from 2015 till date while the N248.339bn operating surplus posted was for the same period under review.

In a research by, Eurostat Statistics Explained, an online platform the operating surplus of an enterprise measures the difference between revenue and expenditure, that is, the surplus or deficit accruing from production. “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,” the website explained. The regulator in July said it had generated N150bn from spectrum licence fees in five months.

The cash, it said, represented 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. This reflects a significant contribution to the revenue drive of the Federal Government, it said.

The NCC had said in July that it generated N150bn from spectrum license fees in five months.

The Commission also noted that the cash 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.

With 5G technology set to be deployed early next year, the NCC is about to rake in even more billions with the lower limit of 5G spectrum licenses already set at N75bn.

 


Share, like and Comment

Leave a Reply

Your email address will not be published.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

Next Post

INSIGHTS: Telecommunications GDP Rose To $70billion In The Last Six Years-NCC Boss

Wed Sep 29 , 2021
Share, like and Comment The telecommunications sector has contributed $70billion to the GDP of the nation  in the last six years. This was revealed  during the annual national conference of the Nigerian Society of Engineers, (NSE) held recently in Abuja While speaking at the event, ,the executive vice chairman of […]