The Senate and House of Representatives Committee on Communications has approved the Nigerian Communications Commission’s (NCC’s) budget projection of N549.6 billion for financial year 2024.
During a joint session of the Committee on Wednesday chaired by Sen. Ikra Bilbis, the telecom industry regulatory commission’s 2023 budget performance was reviewed in the presence of Dr. Aminu Maida, the EVC/CEO of the NCC.
Maida made clarifications on some inquiries from lawmakers on issues of security, revenue generation, data protection in the 2023 budget report by the NCC.
The EVC told the lawmakers that the NCC aimed at avoiding relying solely on sanctions on operators for revenue generation and was now implementing measures to facilitate operators’ compliance with regulatory directives.
According to him, the commission is collaborating with national security agencies to create a platform for tracking criminals and addressing security challenges.
Data on the NCC’s report showed that the commission generated actual revenue of N448.1 billion against a projected budget of N559.080 billion, with total recurrent expenditure at N67.072 billion and capital expenditure at N3.6 million.
The NCC’s management was commended by many of the lawmakers, including senators Steve Karimi and Ned Nwoko, for presenting an up-to-date report on the commission’s financials in 2023.
The lawmakers also lauded the management of the NCC for prudent management of the 2023 revenue, capital, and recurrent expenditure.
Following the consideration of the report, the committee members unanimously approved the NCC’s proposed budget of N549.6 billion for 2024 through voice votes, following a motion by Senator Tahir Monguno and subsequent ratification by the committee’s chairman, Sen. Ikra Aliyu.
