The telecom industry in Nigeria is expected to generate over N100 billion before the end of the year 2020, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Danbatta has said.
Danbatta stated this last week at the National Assembly Joint Committee on Finance and National Planning during the Public hearing on the 2021-2023 Medium Term Expenditure Framework And Fiscal Strategy Paper in Abuja.
He said the N100 billion will represent double of the N52 billion that was generated by the industry in the first six months of the year.
“Total revenue generated in the first half of the year is N52, 705,992,000, but we working and hoping we will cross N100billion mark by the end of the end,” the former University lecturer told the committee while reeling out the revenues NCC has generated over the years and the Commission’s effort towards contributing to the GDP of the economy.
Danbatta however noted that the revenue is a sharp drop from the 2018 revenue of N170, 148, 219,000 and that of 2019 figure which was N157, 741,262,000. He said the drop can be attributed to the fine MTN paid over a period of four years since 2016.