Dr. Aminu Maida, Executive Vice Chairman of Nigerian Communications Commission, NCC
At NASS, Maida discloses NCC raked in N195.8bn in 2024
A total sum of N195.8 billion revenue has been generated from annual operating fees and spectrum fees, among other sources, in the 2024 fiscal year by the
Nigerian Communications Commission (NCC).
This was disclosed by Dr. Aminu Maida, Executive Vice Chairman/Chief Executive Officer (CEO/EVC) of the NCC, disclosed at a joint National Assembly Committee on Communications session for the 2025 budget defence.
Maida, who gave a further breakdown, explained that N137.6 billion was earned from annual operating fees and N26.4 billion from spectrum fees and several other sources, with the commission remitting N111 billion to the Consolidated Revenue Fund.
According to him, the commission had targetted N292.3 billion revenue in the fiscal year but missed this owing mainly to its inability to auction one slot of the 5G spectrum.
Maida said, “That is also what impacted the transfer to the Federal Government because a great proportion of spectrum fees is limited to the CRF.”
NCC is targeting N272.433 billion from levies, spectrum fees, and other revenue sources in 2025, he said, adding that a total recurrent expenditure of N95.668 billion, capital of N10.735 billion, and special projects of N30.13 billion are being projected for the financial year.
Also, Yakubu Gontor, director of financial services, NCC, said with the introduction of new technologies, including 6G, the Federal Government could generate a record of over $1 billion in revenue.
He explained that, “Regarding spectrum sales, it is a 10-year cycle for two reasons. Number one is the lease. Just like when you lease a piece of land, you will celebrate when they pay you a 10-year lease. But for the next nine years, it is that money from the 10 years you will rely on.”
Responding, Senator Shuaib Afolabi Salisu, committee’s co-chairman, assured NCC of adequate funding in the 2025 budget to support the telecom sector in contributing significantly to the country’s economy.
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