The Nigerian Communications Commission (NCC) has exceeded its N36 billion projected revenue from spectrum license fees for 2021.
The Commission in a statement issued by the Director Public Affairs, Mr Ikechukwu Adinde says having recorded over N150 billion from the revenue source within the five months of the year 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.
The statement says accordingly, the N150 billion spectrum revenue achieved in the first half of the year has been remitted to the Federal Government in line with the provisions of the Nigerian Communications Act (NCA), 2003.
The Commission, in its 2021 Budget which was considered and approved by both chambers of the National Assembly in December, 2020, projected a revenue of N36 billion from spectrum fee for the year 2021 but has remarkably surpassed this estimate.
Commenting on the revenue performance, the Executive Vice Chairman of the Commission, Prof Garba Danbatta, said that the performance of the spectrum fee was the result of the favourable turn of events for the telecom sector