Economy
Reps approve NCC 2022 budget, expects N633 billion revenue
The Nigerian Communications Commission has been approved a sum of N166 billion by the House of Representatives for the year 2022. The expected revenue is N633 billion.
The Chairman of the House Committee of Communications, Akeem Adeyemi (APC, Oyo) on Wednesday 15th, December 2021, presented a report which was approved by the House Committee on Supply.
A clause by clause consideration was made after which the report was adopted and passed.
The telecommunications regulator is expected to generate N633.3 billion in the coming year 2022
The breakdown of the NCC expected revenue is as follows: Licensing fees N1.5 billion, Annual operating levy N124 billion, Spectrum fees N420 billion, and Numbering plan, N9.5 billion.
Others are Administrative charges, N4.4 billion, Type approval fees, N920 million, Sanction fees N165 million, FG intervention for broadband, N41.6 billion, Transfer from reserve N1 billion, and Sundry income of N5 million.
The sum of N466.6 billion will be transferred to the Federal Government of Nigeria.
On expenditure, N86.2 billion has been earmarked for recurrent expenditure, N30.3 billion for capital, special projects N42.4 billion, and N8.82 billion for USFP.
Spectrum license fees
In the 2021 budget, N36 billion was estimated for the spectrum license fee, but by end of May 2021, the NCC had generated N150 billion.
Author
Add your voice
0 comments
FuturizeU supports development of innovative healthcare products in Africa
Futurize and AstraZeneca are investing in social entrepreneurs who are developing innovative products that are addressing healthcare equity and early...
Saudi Fund for Development advocates Climate Change Mitigation, Social Infrastructure Investments in Africa
The Saudi Fund for Development (SFD) has advocated for the preservation of heritage projects in Africa through initiatives such...
Catalyst Fund Raises First Round of $40 million investment in African Climate Startups
The Catalyst Fund has achieved the initial close of its $40 million fund for investing in climate startups in Africa....
Paystack CEO, Shola Akinlade, buys majority stake in Aarhus Fremad
A Danish football club, Aarhus Fremad announced on Tuesday that it has sold 55 percent of its shares to the...
MRI is increasing survival rate of women with breast cancer- PPC
PPC Limited, Nigeria’s leading engineering and infrastructure development company with footprints across Nigeria’s healthcare landscape, says that the advancement of...
Appeal court upholds Senator Ademola Adeleke’s win in Osun
The Court of Appeal Abuja has overturned the ruling of the Osun State Governorship tribunal and has declared Senator Ademola Adeleke...
Lawmaker demands revamp of bank e-payment platforms
The members of the House of Representatives have demanded that the Central Bank of Nigeria (CBN) direct banks to revamp...
We’ve disbursed N20bn to alleviate cash crunch, CBN tells NLC
The Central Bank of Nigeria (CBN) met with the leadership of the Nigeria Labour Congress (NLC) in Abuja on Thursday,...
Apply for Amazon Accelerator programme for fintech founders
Application closes April 27, 2023 Today, Amazon Web Services’ Startup Loft Accelerator team announced the inaugural launch of its AWS...
Fully Funded Rotary Peace Fellowships for Masters students
Application Deadline: May 15, 2023 Each year, Rotary awards fully funded fellowships for dedicated leaders from around the world to...
