The House of Representatives on Tuesday approved a N559 billion budget for the Nigerian Communications Commission (NCC) for the 2023 fiscal year.
The approval followed the consideration and adoption of the report of the committee on telecommunications by the committee of supply, chaired by Ahmed Wase, deputy speaker who presided over the plenary.
Out of the total amount of N559 billion, N86.7 is for recurrent expenditure, N5.2 billion is for capital expenditure and the sum of N35 billion only is for special project.
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Also, N16 billion is allocated for transfer to the Universal Service Provision Fund (USPF) while N416 billion will be transferred to the Federal Government of Nigeria, for the period ending December 31, 2023.
Akeem Adeyemi, chairman of the committee on telecommunications presented in the report which read: “Report on insurance from the statutory revenue fund of the NCC, the total sum of N559,080,711,000.00 only of which the sum of N86, 752,963,000.00 only is for recurrent expenditure, while the sum of N5, 224,501, 000. 00 only is for capital expenditure.
“The sum of N35,089,649 000.00 only is for special project, while N16,000,000 only is for transfer to the Universal Service Provision Fund (USPF), N416, 013, 598, 000.00 only will be transferred to the Federal Government of Nigeria for the period ending December 31, 2023.”
