Home News Senate okays budget N633.39bn for NCC in 2022

Senate okays budget N633.39bn for NCC in 2022

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Senate okays budget N633.39bn for NCC in 2022

Nigerian Senate

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

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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.

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