A total of N300 billion has been contributed to the Federation Account according to the Nigerian Communications Commission (NCC). The commission said the sum was generated from frequency auctions and licensing done since the deregulation of the telecoms sector.
NCC’s Executive Vice Chairman Prof Umar Garba Danbatta disclosed this while addressing participants who attended the recently held 38th Senior Executive Course of the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos, Plateau State.
According to the NCC head, Nigeria’s ICT sector is fast becoming Nigeria’s cash cow billions and billions of naira are expected to be earned by the country from the sector on a yearly basis.
He revealed that NCC will rake in over N40bn in the 2.6Ghz spectrum auction which would be carried out in Abuja very soon. He added that NCC credited the federal government’s account with N35bn in December, 2015, adding that since the oil price started its downward movement the regulator had stepped up efforts to increase earnings for the country.
“Telecoms operators paid 2.5 per cent of their total turnover every quarter to NCC and the regulator in turn remits 40 per cent of it to the federation account while it used 60 per cent for staff salaries and running of the commission.
“It goes without saying that ICTs have the potential to combat poverty, be it rural or urban poverty. It will also foster sustainable development if appropriately deployed and made to address the diverse discrepancy in the ICT needs of people of all locations, age group and economic status”, he said.