The executive vice chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has said that the telecoms agency generated and remitted N344.71 billion to the Consolidated Revenue Fund (CRF) of the federal government in the last five years.
Danbatta disclosed this while briefing members of the House of Representative Committee on Telecommunications who were on a legislative oversight visit to the Commission in Abuja during the week.
The EVC, who attributed the successes of the Commission in the last five years to the harmonious relationship between the Commission and the National Assembly, said the diligent oversight by the lawmakers and necessary legislative support have brought forth a lot of dividends for the industry.
“Through the support of the lawmakers, especially the House of Representatives Committee on Telecommunications, which the NCC leadership has worked with in the last five years, the Commission has been able to generate and remit N344.71 billion to federal government Consolidated Revenue Fund (CRF) from spectrum fees and operating surplus,” he said.
Danbatta stated that telecoms sector’s contribution to Gross Domestic Product (GDP) increased from 8.5 percent in 2015 to 14.30 percent as of the second quarter of 2020. In financial value, the 14.30 per cent translates to N2.272 trillion in Q2. He also said that telecoms investment grew from around $38 billion in 2015 to over $70 billion currently.
Speaking further, Danbatta said the NCC is promoting financial inclusion by encouraging the Mobile Network Operators (MNOs) to actively participate in providing financial services towards actualising FG’s 80 per cent financial inclusion target by 2020.
According to him, through the collaboration of critical stakeholders as the National Assembly, the NCC has been able to increase broadband penetration from 6 percent in 2015 to 45.43 per cent as of September, 2020 while basic active internet subscription grew from 90 million to 143.7 million.
Meanwhile, chairman of the Committee, Hon. Akeem Adeyemi, in his address, said the over sight function was in line with relevant sections of the Nigerian 1999 Constitution, as amended, which empowers the House to carry out its role of checks and balances on the executive arm of government under which the NCC, as a federal agency, falls.