Nigeria’s telecoms regulator, the Nigerian Communications Commission (NCC), has remitted N70 billion into the federation account. This is the revenue accrued by the NCC after the first quarter of 2016 – from December 2015 to March 2016. This remission is coming at a time the government is complaining of limited revenue owing to its shrinking economy.
The NCC, which has been at the forefront of generating non-oil revenue for the country, has once again complemented the revenue base of the government. According to financial figures by the National Bureau of Statistics (NBS), the N70billion is part of the total contribution of the telecoms sector to the country’s Gross Domestic Product (GDP), which is put at over N1.4 trillion in quarter one.
Recall, the telecoms regulator recently penalized Nigeria’s biggest telecommunications company, MTN for violating its order. This in turn has brought in N80 billion into the pulse of the Nigerian government, and a balance of N250 billion still expected. The NCC also generates revenue through the auctioning of broadband spectrums.

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