We Boosted Federation Account By N44.71bn – NCC
The Nigerian Communications Commission has told the House Committee on Telecommunications that it generated and remitted N344.71bn to the Consolidated Revenue Fund of the Federal Government in the last five years.
NCC’s Executive Vice Chairman, Umar Danbatta, stated this while briefing the committee members, who were led by their Chairman, Akeem Adeyemi, during a legislative oversight function on the commission in Abuja.
Danbatta attributed the successes of the commission in the last five years to the harmonious relationship between the NCC and the National Assembly.
He was quoted in a statement issued by the spokesperson of the commission, Ikechukwu Adinde, as saying, “Through the support of the lawmakers, the commission has been able to generate and remit N344.71bn to Federal Government Consolidated Revenue Fund from spectrum fees and operating surplus.”
He said the telecoms sector’s contribution to Gross Domestic Product increased from 8.5 per cent in 2015 to 14.30 per cent as of the second quarter of 2020.
The NCC boss explained that in financial value, the 14.30 per cent translated to N2.27tn in the second quarter.
He also stated that telecoms investment grew from around $38bn in 2015 to over $70bn currently.
Danbatta said the NCC was promoting financial inclusion by encouraging the Mobile Network Operators to actively participate in providing financial services towards actualising the Federal Government’s 80 per cent financial inclusion target by 2020.
According to him, the NCC in collaboration with stakeholders, had been able to increase broadband penetration from six per cent in 2015 to 45.43 per cent as of September, 2020.
He said basic active Internet subscription grew from 90 million to 143.7 million during the same period.
Danbatta said, “Between 2015 and September 2020, active voice subscription has increased from 151 million to 205.25 million with a teledensity standing at 107.53 per cent as at end of September 2020.