According to the Nigerian Communication Commission (NCC), the Federal Government will receive approximately N500 billion from the auctioning of two 5G spectrum licences in 2023.
At an interactive discussion on the 2023–2025 MTEF–FSP organised by the Senate Committee on Finance on Monday in Abuja, Prof. Umar Danbatta, the Executive Vice–Chairman of the NCC, made this statement.
Danbatta said that the commission had already started the auctioning of the spectrum bid procedure.
In the first quarter of 2022, NCC generated N257 billion, of which he claimed N195 billion had been transferred to the government's coffers.
Danbatta said that the NCC generated N318 billion from April to August, of which N214 was remitted.
According to him, the fund realised was occasioned by the auctioning of two 5G spectrums at the rate of N263 million and N273 million dollars.
He said NCC from 2017 to 2021 has also generated N799 billion and remitted 423 billion to government.
On broadband penetration in Nigeria, he said it stood at 44 per cent, saying that about 150 million Nigerians have access to the Internet, with over 80 million having access to high speed internet.
According to him, the target was to hit 75 per cent penetration in 2025.
He said the commission was hopeful of achieving 50 per cent penetration by the end of 2022.
He advised Nigerians to make use of the 112 emergency national number to report cases of emergency like fire outbreak, accidents and toll free number 622 to lodge complaints on drop calls.
The Chairman of the Committee, Sen. Solomon Adeola said the Senate would continue to encourage NCC to improve its revenue generation profile to the government.
Adeola said that the expected NCC revenue in 2023 would help reduce the deficit proposed in the 2023 budget.