NCC Plans to Generate N500 Billion from 5G Spectrum in 2033

The Nigeria Communication Commission, NCC has disclosed its plan to generate over N500 billion in 2023 fiscal year through the 5G spectrum.

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

Danbatta said the projected revenue would be realised from the auctioning of two 5G spectrums and the bidding process for auctioning  of the spectrums  in 2023.

He also disclosed that NCC had generated N257 billion in the first quarter of 2022, while N195bn was remitted to government coffers.

The NCC boss added that from April to August, N318bn was generated while N214 was remitted.

According to him, the fund realised was occasioned by the auctioning of two 5G spectrums at the rates of N263m and N273m dollars.

Also Read: NFMC to Approve All Radio Frequency Spectrum in Nigeria – FG

He said, “ The NCC from 2017 to 2021 had also  generated N799bn and remitted N423bn to the government.

He added, “The target was to hit 75 per cent penetration in 2025. Hopefully, we will achieve 50 per cent penetration by end of 2022.”

Also Read: Airtel Buys Additional 60MHz Spectrum for $40 Million

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

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