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Friday, May 24, 2024

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National Assembly Approves NCC’s N549.6bn Budget For Fiscal Year 2024

 Olushola Bello

 … as Senator Steve Karimi commended  NCC’s up-to-date and commendable report

 The Nigerian Senate has approved a budget of budget of N549.6 billion for the Nigerian Communications Commission for the fiscal year 2024

Senator Ikra Bilbis (Zamfara Central) who chairs the joint Senate and House of Representatives Committee on Communications session disclosed this.

The committee members unanimously approved the NCC’s N549.6 billion 2024 budget proposal through voice votes following a motion by Senator Tahir Monguno (Borno North) and subsequent ratification by committee chairman Senator Ikra Aliyu.

The 2023 budget performance report showed an actual revenue of N448.1 billion against a projected budget of N559.080 billion, with total recurrent expenditure at N67.072 billion and capital expenditure at N3.6 billion.

The committee scrutinized the performance of NCC’s 2023 budget as presented by the Executive Vice Chairman of the Commission, Dr. Aminu Maida.

Giving a breakdown of the Commission’s total expenditure for the fiscal year 2024, there are indications that N155 billion will go towards recurrent expenses.  Additionally, the Senate also approved N17 billion for the Universal Service Provision Fund (USPF) for the same year.

The Executive Vice Chairman, Maida, also addressed questions from lawmakers on various topics such as security, revenue generation, data protection, and discrepancies found in the 2023 budget report of the NCC.

 He informed lawmakers that the NCC aims to avoid relying solely on operator sanctions for revenue generation and is implementing measures to facilitate operators’ compliance with regulatory directives.

He stressed that NCC collaborates with national security agencies to create a platform for tracking criminals and addressing security challenges.

In his remark, Senator Steve Karimi commended the NCC’s up-to-date and commendable report, stating that there were no discrepancies in the information provided.

Senator Ned Nwoko also highlighted Maida’s impressive credentials and urged him to enhance the operations of the Agency.

The Lawmakers also applauded the agency for prudent management of the 2023 revenue, capital, and recurrent expenditure.

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