The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Garba Danbatta, has told the House Committee on Telecommunications how the commission contributed to the revenue drive of the Federal Government by generating and remitting N344.71bn to the Consolidated Revenue Fund in the last five years.
Danbatta stated this while briefing the committee during a legislative oversight function on the commission in Abuja on Wednesday, according to a statement from NCC on Thursday.
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Danbatta, who attributed the successes of the commission in the last five years to the harmonious relationship between it and the National Assembly, said 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.
