NCC to generate N500bn from 5G spectrum auctioning

NCC to generate N500bn from 5G spectrum auctioning

By Kingsley Okoye, Abuja.

 

The Nigeria Communication Commission (NCC) says it plans to generate over N500 billion as revenue for the Federal Government from the auctioning of two 5G spectrums in 2023.

 

The Executive Vice-Chairman of NCC, Prof. Umar Danbatta, said this at an interactive meeting on 2023-2025 MTEF-FSP, organised by the Senate Committee on Finance on Monday in Abuja.

 

Danbatta said that the commission had already initiated the bidding process for auctioning of the spectrums.

 

He said that NCC generated N257 billion in the first quarter of 2022, adding that N195 billion out of the amount had been remitted to the government coffers.

 

Danbatta said that from April to August, N318 billion was generated by the NCC, out of which N214 billion was remitted.

 

According to him, the revenue was realised from the auctioning of two 5G spectrums at the rate of 263 million and 273 million dollars.

 

He said that NCC from 2017 to 2021 had also generated N799 billion, while 423 billion had been remitted to the government.

 

On broadband penetration in Nigeria, Danbatta said that it stood at 44 per cent, adding more than 150 million Nigerians had access to the Internet, with over 80 million having access to high-speed Internet.

 

According to him, the target is to attain 75-per-cent penetration in 2025.

 

He said that the commission was hopeful of achieving 50-p-r cent penetration by the end of 2022.

 

He advised Nigerians to make use of the 112 emergency national number to report cases of emergency like fire outbreaks, accidents and toll-free number 622 to lodge complaints on drop calls.

 

The Chairman of the Committee, Sen.Solomon Adeola, said that the Senate would continue to encourage NCC to improve its revenue generation profile.

 

Adeola said that the expected NCC revenue in 2023 would help reduce the deficit proposed in the 2023 budget.

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