The Nigeria Communication Commission (NCC) has projected to generate over N500 billion for the Federal Government in 2023 fiscal year.
Umar Danbatta, the executive vice chairman of NCC made the disclosure at an interactive meeting on 2023-2025 MTEF-FSP, organised by the Senate committee on finance in Abuja.
He said the projected revenue would be realised from the auctioning of two 5G spectrums, adding that the bidding process for the auctioning of the spectrums for 2023 had begun.
Danbatta also disclosed that NCC generated N257 billion in the first quarter of 2022, while N195 billion was remitted to the government coffers.
He further said from April to August, N318 billion was generated, while N214 was remitted.
According to him, the fund realised was occasioned by the auctioning of two 5G spectrums at the rates of N263 million and N273 million dollars.
Danbatta said NCC from 2017 to 2021 had also generated N799 billion and remitted 423 billion to the government.
On broadband penetration in Nigeria, the NCC boss said it stood at 44 percent, noting that about 150 million Nigerians have access to the internet, with over 80 million having access to high speed internet.
According to him, the target was to hit 75 percent penetration in 2025, adding that it was hopeful of achieving 50 percent penetration by the end of 2022.
Danbatta advised Nigerians to make use of the 112 emergency national number to report emergencies like fire outbreak, accidents, among others and toll-free number 622 to lodge complaints on issues relating to drop calls.
Solomon Adeola, chairman of the committee said the Senate would continue to encourage NCC to improve its revenue generation profile to the Federal Government.
He also advised NCC to continue to help in facilitating the process of other revenue generation agencies via its operations, where necessary.