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Chinenye Anuforo
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has told the House Committee on Telecommunications how the telecoms agency contributed to the revenue drive of the Federal Government by generating and remitting N344.71 billion to the Consolidated Revenue Fund (CRF) in the last five years.
Danbatta stated this while briefing the Committee members, led by their Chairman, Hon. (Prince) Akeem Adeyemi, during a legislative oversight function on the Commission in Abuja.
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 such relationship, 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 terms, 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.
He 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.
