The Nigerian Communications Commission (NCC) has said it generated N195.8 billion in revenue from annual operating fees and spectrum fees, among other sources, in the 2024 fiscal year.
NCC’s Executive Vice Chairman/Chief Executive Officer(CEO/EVC) Aminu Maida said this when he appeared before the joint National Assembly Committee on Communications for the 2025 budget defence session.
Maida said N137.6 billion was earned from annual operating fees and N26.4 billion from spectrum fees and several other sources, while the commission had remitted N111 billion to the Consolidated Revenue Fund.
He noted 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”, Maida noted.
He said 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.
Also speaking, the director of financial services at the NCC, Yakubu Gontor, said with the introduction of new technologies, including 6G, the federal government could generate a record of over $1 billion in revenue.
“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,” he added.
In his remarks, the committee’s co-chairman, Senator Shuaib Afolabi Salisu, assured NCC of adequate funding in the 2025 budget to support the telecom sector, contributing significantly to the country’s economy.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
