The Nigerian Communications Commission (NCC) remitted over 344 billion naira into the Consolidated Revenue Fund (CRF) of the Federal Government in the last five years, The Nation learnt Thursday.
Its Executive Vice Chairman, EVC, Prof. Umar Danbatta, said the remittance was beside the over 2.2 trillion naira contributed to the country’s GDP in the second quarter of 2020 by the telecom sector.
Danbatta stated this while briefing the House of Representatives Committee on Telecommunications led by its Chairman, Mr. Akeem Adeyemi, during a legislative visit to the Commission in Abuja.
The EVC attributed the successes recorded by the Commission in the last five years to the harmonious relationship between the Commission and the National Assembly.
He said the relationship as well as the diligent oversight functions by the lawmakers had brought 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,” Danbatta said.
A statement from the Director of Public Affairs, Dr Ikechukwu Adinde quoted Danbatta as saying that the 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 value, 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 added.
Danbatta 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.
According to him, through the collaboration of critical stakeholders as the National Assembly, the NCC has been able to increase broadband penetration from 6 percent in 2015 to 45.43 per cent as of September, 2020 while basic active internet subscription grew from 90 million to 143.7 million.
“Between 2015 and September, 2020, active voice subscription has increased from 151 million to 205.25 percent million with a teledensity standing at 107.53 percent as at end of September, 2020.
“We are also empowering and protecting the consumers and ensuring we are able to sanitise the industry of improperly-registered Subscriber identification Module (SIM) cards through our impartial regulatory approach,” Danbatta said.
Adeyemi said the over sight function was in line with relevant sections of the Nigerian 1999 Constitution, as amended, which empowers the House to carry out its role of checks and balances on the executive arm of government under which the NCC, as a Federal agency, falls.
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