The Nigerian Communications Commission (NCC) has reported its remittance of a total sum of N294.312 billion to the Consolidated Revenue Fund (CRF) of the Federal Government being revenue accruals from spectrum fees.
This is even as the telecoms industry regulator also reported a N248.339 billion operating surplus, as it received from MTN Nigeria a total of N71.97 billion from spectrum licence and Unified Access Services (UAS) licence.
According to data from the Commission, it earned N71.6 billion from the spectrum licence from the former while it also generated N374.6 million for the UAS licence in settlement of their invoices for the 10-year period till August 31, 2031.
The report stated: “The N294.312 billion remitted to the Federal Government’s Consolidated Revenue Fund represented cash received from spectrum fees from 2015 till date, while the N248.339billion operating surplus posted was for the same period under review.”
The operating surplus of an enterprise measures the difference between revenue and expenditure, that is, the surplus or deficit accruing from production. The surplus is calculated before taking account of any interest, rent or similar charges payable on financial or tangible non-produced assets borrowed or rented by the enterprise or any interest, rent or similar receipts receivable on financial or tangible non-produced assets owned by the enterprise.
It would be recalled that the telecom industry regulator had in July reported that it generated N150 billion from spectrum licence fees in five months, representing over 400 percent increase in revenue budget performance in respect of spectrum fees generated by the Commission between January 1 and May 31, 2021.
The management noted that the commission’s performance reflected a significant contribution to the Federal Government’s non-oil revenue drive.
