The Federal Government has revealed that it will spend the Nigerian Communications Commission (NCC) internally generated revenue of N41.6 Billion for the provision of broadband connectivity in higher institutions of learning, airports and markets.
The Minister of Communications and Digital Economy, Professor Isa Pantami while addressing journalists in Abuja, stated that the N41.6B is the internally generated revenue of the ministry.
Pantami said that he had to convince the NCC Board chairman, Adeolu Amanda and the Executive Vice Chairman Professor Umar Danbatta to allow the Federal Government to spend the generated funds on other sectors of the economy.
“The total amount we have committed to this is approximately N41.6B.
“I presented my argument to both of them and I was able to convince both of them and they agreed with me that this money is sort of spending within our sector.
“Let us take it outside the sector and support education, commerce and other activities within the country because what we can generate other sectors cannot be able to do that.
“So with that meeting, all of them agreed that this for N41.6 billion should be spent through intervention in education to support small and micro businesses and also to support our airports and other institutions,” Pantami noted.
Furthermore, the minister said “It is important to realise that this is not just direct government intervention, but it is a government intervention that we willingly sacrifice from our internally generated revenue. As we all know, the Fiscal Responsibility Act of 2007.
“Section 21 clearly states that from the operators of laws with regards to your IGR what you generate and to retain 20% Then section 22 mentions that 80% of IGR is to be remitted to the consolidated revenue account for the Federation.
“We generated our revenue internally EVC of NCC once came to me that this is what has been generated and we want to spend the money internally because we have certain challenges within our sector that that money should be dedicated to.
“And I arranged another meeting where I invited the board chairman of NCC, Adewolu Akande and the Executive Vice Chairman Prof. Umar Danbatta, both of them were in my office I say instead of spending this N41.6B within our sector it is better to sacrifice the whole money to other sectors, particularly in education, commerce.
“The amount will provide interventions in 113, higher institutions, airports and markets, in phases one, two and three.
“19 universities, one federal College of Education, 20 markets and the second and third phases. We have provisions for 20 airports, six additional markets and 49 higher institutions of learning.
“The whole money is from our internally generated revenue. That we have decided to spend on other institutions and support without retaining any money from that amount,” He emphasised
Stating the reasons for implementing phases two and three of the interventions in higher institutions, airports and markets, he said, Implementation level in some institutions is up to 72%-91% in phase one.
“I received an update from the Nigerian Communications Commission with regards to the implementation of what we have done on the 24th of November 2022. based on the record generally one can safely say that the first phase has been implemented.
“So, it is because of this that I felt it is the right time to commence phase two and phase three,” he added.
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