Nigerian Communication Commission remits N133.4bn to Federation Account in 2 years’

Nigeria’s telecoms regulatory body, the Nigerian Communications Commission (NCC) on Thursday said it has, in the last two years, remitted N133.4bilion to the consolidated revenue fund of the Federal Government.

The commission’s Director of Public Affairs, Tony Ojobo, said in a statement, “Although NCC’s primary role is not to generate revenue for the government, but to nurture and regulate the industry, figures obtained from the commission show impressive remittance of funds to the coffers of the consolidated revenue of the Federal Government, especially in the last two years.

Ojobo also quoted the Executive Vice Chairman and Chief Executive Officer of the commission, Prof Umar Danbatta, as recently saying the sector contributed N1.549 trillion to the Gross Domestic Product (GDP) in the second quarter of 2017, representing 6.68 per cent increase from the first quarter of the year (N1.452 trillion).

The National Bureau of Statistics report, Ojobo said, also confirmed that the telecommunications sector, during the second quarter of 2017, contributed 9.5 per cent to the GDP in contrast to 9.1 per cent contribution in the first quarter of the year.

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