TRENDING IN 48-Hrs

NCC projects N633 billion revenue in 2022 as reps approve budget

The House of Representatives has approved N166 billion for the Nigerian Communications Commission for the 2022 fiscal year.

On Wednesday, the House Committee on Supply approved the report presented by Akeem Adeyemi (APC, Oyo), the Chairman of the House Committee on Communications.

The report was adopted and passed after the clause by clause consideration

The telecommunications regulator is expected to generate N633.3 billion in the coming year.

The breakdown of the NCC expected revenue is as follow – licensing fees N1.5 billion, annual operating levy N124 billion, spectrum fees N420 billion and numbering plan, N9.5 billion.

Others are administrative charges, N4.4 billion, type approval fees, N920 million, sanction fees N165 million, FG intervention for broadband, N41.6 billion, transfer from reserve N1 billion and sundry income N5 million.

The sum of N466.6 billion will be transferred to the Federal Government of Nigeria.

On expenditure, N86.2 billion has been earmarked for recurrent expenditure, N30.3 billion for capital, special projects N42.4 billion and N8.82 billion for USFP.

In the 2021 budget, N36 billion was estimated for spectrum licence fee, but by end of May 2021, the NCC had generated N150 billion.

Spectrum fees remains the largest source of revenue for the commission.

On Monday, MTN and Mafab Communications Limited won the bid for the 5G spectrum. The two firms got the two slots at $273 million each.

During the clause by clause consideration, the report was adopted and passed.

MOST READ TODAY

Follow Us on Google News

Get News Via Whatsapp

Get Updates Via Telegram

Got news tip? send us story

POPULAR TODAY


Leave a comment
MORE STORIES