The Nigerian Communications Commission (NCC) has remitted N344.71 billion to the Consolidated Revenue Fund (CRF) in the last five years.
Executive Vice Chairman (EVC) of the commission, Prof. Umar Garba Danbatta, said this while briefing the House Committee on Telecommunications led by their Chairman, Hon. Akeem Adeyemi, during a legislative oversight function on the commission in Abuja during a legislative oversight function on the commission.
Danbatta, attributed the successes of the commission in the last five years to the harmonious relationship between it and the National Assembly, adding that such relationship, the diligent oversight by the lawmakers and necessary legislative support had brought forth a lot of dividends for the industry.
He stated that telecoms sector’s contribution to Gross Domestic Product increased from 8.5 percent in 2015 to 14.30 percent as of the second quarter of 2020. In financial value, the 14.30 per cent translates to N2.272 trillion in Q2.
He also said that telecoms investment grew from around $38 billion in 2015 to over $70 billion currently.
Danbatta said the NCC is promoting financial inclusion by encouraging the Mobile Network Operators (MNOs) to actively participate in providing financial services towards actualising the government’s 80 per cent financial inclusion target by 2020.