The Nigerian Communications Commission says its low revenue generation is due to its inability to sell the 5G spectrum to telecom operators in the country.
Executive Vice Chairman and Chief Executive Officer of NCC, Aminu Maida, made the clarifications at a budget defence meeting with the joint Committee of the National Assembly on Telecommunications and ICT.
It’s a joint sitting of the committees of the National Assembly on Telecommunications and ICT.
NCC Chief Executive briefed the legislators on the activities of the commission in the past year.
But says despite concerted efforts to auction the 5G Spectrum, it remains unsold.
The two largest telecom operators had acquired and were underutilising their 5G spectrum, while the third-largest operator, which the Commission had hoped would make a purchase, opted to focus on expanding its 4G network instead.
In 2024, the Commission projected a transfer of ₦332.8 billion to the Consolidated Revenue Fund but was only able to remit ₦111 billion.
For 2025, the projected revenue stands at ₦272.4 billion, expected to come from operational levies and spectrum fees.
In spite of the revenue shortfall, the committee expresses satisfaction with the NCC’s 2024 budget performance and its proposed estimates for 2025.
But the lawmakers seek to know measures being put in place by the Commission to improve telecom services in Nigeria.
They highlighted the need for the NCC to be fully equipped to effectively carry out its regulatory functions.
The joint committee emphasised the sectors’ significance as it cites data from the national bureau of statistics indicating 16 percent contributions to the nation’s gross domestic product by the telecommunications sector.
