Nigerian Communications Commission (NCC) said the agency generated N195.8 billion as revenue in 2024 and remitted to the federal government consolidated revenue fund the sum of N111 billion.
The Executive Vice Chairman of NCC, Dr Aminu Maida, who disclosed this when he appeared before the joint National Assembly Committee on Communications for the 2025 budget defence session, informed that this revenue is from operating fees and spectrum fees, among other sources, in the course of the year under review.
Breaking down how the amount came about, he said N137.6 billion was earned from annual operating fees and N26.4 billion from spectrum fees and several other sources.
He stated that the commission had targeted earning N292.3 billion in the fiscal year but missed the target due mainly to its inability to auction one slot of the 5G spectrum.
“That is also what impacted the transfer to the federal government because a great proportion of spectrum fees is limited to the CRF”, he added.
He revealed that NCC is targeting N272.433 billion from levies, spectrum fees, and other revenue sources in 2025, adding that a total recurrent expenditure of N95.668 billion, capital of N10.735 billion, and special projects of N30.13 billion are being projected for the financial year.
On his part, Yakubu Gontor, director of financial services, NCC, said with the introduction of new technologies, including 6G, the federal government could generate a record of over $1 billion in revenue.
According to Gontor, “Regarding spectrum sales, it is a 10-year cycle for two reasons. Number one is the lease. Just like when you lease a piece of land, you will celebrate when they pay you a 10-year lease. But for the next nine years, it is that money from the 10 years you will rely on,”
In his remarks, Senator Shuaib Afolabi Salisu, committee’s co-chairman, assured NCC of adequate funding in the 2025 budget to support the telecom sector in contributing significantly to the country’s economy.