NCC Transferred N463bn to Federation Account in 5 Years
The telecommunications Industry in Nigeria has been growing exponentially as the industry’s contribution to the Gross Domestic Products (GDP) increased from 8.5 per cent in the fourth quarter of 2015 to 12.61 per cent in the fourth quarter of 2021, while the sector also attracted over $2 billion in foreign direct investment, (FDI).
The Nigerian Communications Commission (NCC), the regulatory authority of the telecommunications Industry in Nigeria disclosed that it transferred N463 billion to the Federal Government’s Consolidated Revenue Fund (CRF) in five years.
Prof. Umar Danbatta, Executive Vice Chairman of the Commission, made this disclosure when he led the NCC’s management team on a visit to the Permanent Secretary, Ministry of Communications and Digital Economy, Dr. William Alo.
Danbatta, briefed the Permanent Secretary on the state of the industry and how the NCC has continued to play a significant role to the growth of nation’s Gross Domestic Product (GDP).
The EVC stated that the industry’s contribution to the GDP increased from 8.5 percent in the fourth quarter of 2015 to 12.61 percent in the fourth quarter of 2021, as well as attracted over $2 billion in Foreign Direct Investment.
He cited some of the key accomplishments made under his leadership to include the Commission’s recent, successful 3.5 gigahertz (GHz) spectrum auction for 5G services, the licensing of seven providers of fiber optic infrastructure, and the addition of 38,296 kilometers of fiber optic.
He revealed that some access gap clusters in the nation had been reduced from 217 to 114 in order to give 15 million Nigerians access to telecom services.
According to Danbatta, the deployment of fiber optic cables increased from 47,000 kilometers to 54,725 kilometers, adding that there now exist more than 30,000 3G and 4G Base Transceiver Stations (BTS) around the nation.
