NCC generates N150bn from spectrum license fees in five months

The Nigerian Communications Commission (NCC) said it generated over N150 billion from spectrum license fees revenue source within the first five months of the year.

The Commission in a statement said 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.

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

The NCC added that the figure exceeded its N36 billion projected revenue from spectrum license fees for 2021.

The spokesperson of NCC, Ikechukwu Adinde, disclosed this in a statement on Sunday.

Spectrum means a continuous range of electromagnetic wave frequencies up to and including a frequency of 420 terahertz.

They are radio frequencies allocated to the mobile communications industry as well as other sectors for communication over airwaves and it is through this means that wireless communication is achieved.

The NCC regulates and manages the frequency spectrum for the telecommunications sector in Nigeria.

According to the statement, the revenue has been remitted to the federal government in line with the provisions of the Nigerian Communications Act (NCA), 2003, which mandates the Commission to remit proceeds from spectrum resources wholly into the government’s Consolidated Revenue Fund (CRF).