Nigeria to Generate N500b from 5G Spectrum in 2023

The Nigerian Communication Commission, NCC has disclosed its plan to generate over 500 billion naira  in 2023 fiscal year through the 5G spectrum.

The Executive Vice Chairman of the NCC, Professor Umar Danbatta, made this known in Abuja, Nigeria’s capital  at an  interactive meeting on 2023-2025 Medium-Term Expenditure Framework , MTEF, and Fiscal Strategy Papers , FSP  organised by the Nigerian Senate Committee on Finance.

Danbatta said the projected revenue would be realised from the auctioning of two 5G spectrums and the bidding process for auctioning  of the spectrums  in 2023.

He also revealed that NCC had generated N257 billion in the first quarter of 2022, while N195 billion was remitted to government coffers.

The NCC Boss explained that from April to August, N318 billion was generated while N214 billion was remitted.

According to Danbatta  the fund realised was occasioned by the auctioning of two 5G spectrums at the rates of $263 million and $273 million.

“ The NCC from 2017 to 2021 had also generated N799billion  and remitted N423billion to the government.

“The target was to hit 75 per cent penetration in 2025. Hopefully, we will achieve 50 per cent penetration by end of 2022,” he stated.

Professor Danbatta advised Nigerians to make use of the 112 emergency national number to report issues of emergency  such as fire outbreak, accidents, among others, and a toll free number, 622, to lodge complaints on issues relating to drop calls.

The Chairman of the Committee, Senator Olamilekan Adeola, said the Senate would continue to encourage NCC to improve its revenue generation profile to the Nigerian Government.

Confidence Okwuchi