The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Umar Danbatta, stated that the commission generated and remitted N344.71bn to the Consolidated Revenue Fund of the Federal Government in the last five years.
Danbatta stated this while briefing the House Committee on Telecommunication during a legislative oversight function on the commission in Abuja. He attributed the successes of the commission in the last five years to the harmonious relationship between the NCC and the National Assembly
Danbatta was quoted in a statement issued by the spokesperson of the commission, Ikechukwu Adinde, as saying, “through the support of the lawmakers, the commission has been able to generate and remit N344.71bn to Federal Government Consolidated Revenue Fund from spectrum fees and operating surplus.”
According to the statement, the telecoms sector’s contribution to Gross Domestic Product increased from 8.5 per cent in 2015 to 14.30 per cent as of the second quarter of 2020.
The NCC boss therefore explained that in financial value, the 14.30 per cent translated to 2.27tn in the second quarter. He also stated that telecoms investment grew from around $38bn in 2015 to over $70bn currently.
It was further revealed that the NCC in collaboration with stakeholders, had been able to increase broadband penetration from six per cent in 2015 to 45.43 per cent as of September 2020.
During the same period, basic internet subscription grew from 90 million to 143.7 million and active voice subscription has increased from 151 million to 205.25 million with a teledensity standing at 107.53 per cent as at end of September 2020.