FG to realize Over N500bn revenue from 5G Spectrum

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    The Nigeria Communication Commission, NCC, has revealed that the Federal Government would generate over N500 billion from auctioning the 5G network, to augment the 2023 budget.

     

    The Executive Vice Chairman of the Commission, Umar Danbatta, a Professor of Communications Technology, made this known at an interactive meeting with the Senate Committee on Finance, on 2023-2025 MTEF-FSP, adding that the projected revenue would be realised from the auctioning of two 5G spectrums.

     

    He said the bidding process for auctioning of the spectrums for 2023 had begun, so also that NCC had generated N257 billion in the first quarter of 2022, while N195 billion was remitted to government coffers.

     

    The Executive Vice chairman further said from April to August, N318 billion was generated, while N214 was remitted. The fund realized was occasioned by the auctioning of two 5G spectrums at the rates of N263 million and N273 million dollars.

    He said NCC from 2017 to 2021 had also generated N799 billion and remitted 423 billion to the government.

     

    Danbatta said broadband penetration in Nigeria, stood at 44 per cent, adding that about 150 million Nigerians have access to the Internet, with over 80 million having access to highspeed internet.

    The target according to him is to hit 75 per cent penetration in 2025, adding that it was hopeful of achieving 50 per cent penetration by the end of 2022.

     

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

     

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

    He also advised NCC to continue to help in facilitating the process of other revenue generation agencies via its operations, where necessary.

     

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