Senate okays budget N633.39bn for NCC in 2022

Nigerian Senate...CONTINUE READING>>>

The Senate has approved the sum of N633.39 billion as budget for the Nigerian Communications Commission (NCC) for the 2022 fiscal year.

The approval followed the consideration of a report by the Committee on Communications.

Chairperson of the Committee, Senator Olufemi Tinubu (APC, Lagos Central), in her presentation, said out of the approved sum, N86,242,952 was for Recurrent Expenditure; N30,336,144 for Capital Expenditure and N42,445,864 for Special Projects; N466,868,323 was transfer to Federal Government; and N7,500,000 as Transfer to Universal Service Provision Fund.

She explained that Commission’s Revenue of N633.3 billion consists of the Annual Licensing Fees (N1.5 billion); Annual Operating Levy (N124 billion); Spectrum Fees Charges (N450.2 billion); Numbering Plan (N9.5 billion); Administrative Charges (N4.4 billion); Type Approval Fees (N902 million); Sanction Fees (N165 million).

She added that others include: Sundry Income – N5 million, FG Intervention for Broadband Infrastructure – N41.6 billion and Transfer from Reserve – N1 billion.

In a related development, the Senate also on Wednesday approved the sum of N8,824,847,408 billion as 2022 budget for the Universal Service Provision Fund.

Senator Tinubu, in a second presentation, said out of the sum approved, N1,923,760,092 was for Recurrent Expenditure; N357,959,020 for Capital Expenditure; and N6,543,128,296 for Projects and Programmes.