FG Pockets N300Bn from Frequency Auction

Nigerian Communications Commission (NCC) has contributed over N300 billion to the Federation Account from proceeds of frequency auctions and licensing done since the deregulation of the telecoms sector, according to Prof Umar Garba Danbatta, EVC/CEO, NCC.

NCC boss said the commission is expected to rake in over N40 billion in the 2.6Ghz spectrum auction which would be carried out in Abuja very soon.

Speaking on ‘‘Mainstreaming ICT for poverty reduction in Nigeria’’, when he addressed the participants of the 38th Senior Executive Course of the National Institute for Policy and Strategic Studies (NIPSS), kuru, Jos, Plateau State, the NCC boss said the ICT sector is gradually turning to Nigeria’s cash cow billions and billions of naira are expected to be earned by the country from the sector on a yearly basis.

The commission also credited the federal government’s account with N35 billion in December, 2015, he said, adding that since the oil price started its downward movement the regulator had stepped up efforts to increase earnings for the country.

He said the telecoms operators paid 2.5 per cent of their total turnover every quarter to NCC and the regulator in turn remits 40 per cent of it to the federation account while it used 60 per cent for staff salaries and running of the commission.

“It goes without saying that ICTs have the potential to combat poverty, be it rural or urban poverty. It will also foster sustainable development if appropriately deployed and made to address the diverse discrepancy in the ICT needs of people of all locations, age group and economic status”, he said.