• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, October 20, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

FEC approves levy collection project to generate N1.2trn

Levy

The Matters Press by The Matters Press
January 27, 2022
Reading Time: 2 mins read
0
Jaiz Bank expands with new branches

Naira

The Federal Executive Council (FEC) has given approval for the implementation of the Revenue Assurance Solution (RAS) project, to improve the collation and collection of Annual Operating Levy (AOL) from network operators.

RELATED POSTS

Standing With the Bello Family – Justice Must Never Be Cheapened

You led with distinction, CG of Customs, hails former boss, Mohammed at 80

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

This is according to a statement issued on Monday, in Abuja, by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC).

He said that the approval followed the review and issuance of compliance certificate of the Full Business Case (FBC) by the ICRC.

It said that RAS, billed to span a 10-year period, is expected to increase the revenue accruals from AOL to about N1.207 trillion within the period.

The RAS, designed by the Nigerian Telecommunications Commission (NCC) and the Ministry of Communications and Digital Economy, would be developed through the Design, Finance, Build, Operate and Transfer (DFBOT) model of Public Private Partnership (PPP).

The commission said that given the FEC approval and a requisite vetting by the Ministry of Justice, the next stage would be the commercial close – contract execution, with Messrs 3R consortium as the private partner.

“The NCC proactively initiated the process for the deployment of an RAS with the aim of blocking revenue leakages and ensuring that there are no errors in computing and collection of the AOL, due to the Federal Government.

“The RAS is expected to block possible gaps in revenue accountability, using cutting-edge technology solutions and shall provide additional layer of assurance that the licensees of the commission pay the correct AOLs.

”Also, that they are expected to meet other regulatory obligations, without any miscalculations and/or exemptions based on faulty and inaccurate data and information.

“The deployment of the RAS platform will significantly improve the NCC’s current AOL revenue computation and collection system, amongst other benefits’’, the statement said.

The commission said that the AOL regulations, which came into force via a 2014 gazette of the Federal Government, as an addendum to the NCC Act of 2003, stipulated in part that;

“Every licensee that is a network operator shall pay to the commission an AOL assessed at 2.5 per cent of the licensee’s net revenue for the relevant period being its gross revenue less its roaming, interconnect and bandwidth costs for the period.”

It further stipulates that: “every licensee that is a non-network operator shall pay annually to the commission an AOL assessed at one per cent of the licensee’s net revenue for the relevant period, being its gross revenue less its roaming, interconnect and bandwidth costs for the period.”

The News Agency of Nigeria (NAN) reports that the ICRC was established to regulate PPP endeavours of the Federal Government with a view to address Nigeria’s physical infrastructure deficit, which hampers economic development.

Tags: Levy
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Standing With the Bello Family – Justice Must Never Be Cheapened
Energy

Standing With the Bello Family – Justice Must Never Be Cheapened

October 17, 2025
You led with distinction, CG of Customs, hails former boss,  Mohammed at 80
Economy/Technology

You led with distinction, CG of Customs, hails former boss, Mohammed at 80

October 10, 2025
Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
Next Post
Nigeria gets AfDB’s $14m as member of ATI

AfDB, others commit to Special Agro-Industrial Processing Zone

Stakeholders commend NNPC for good performance

NNPC secures $5bn from Afreximbank fo fund investments

Recommended Stories

Economists Challenge IMF on call for further VAT increase in Nigeria

Argentina gets $7.5bn IMF loan

August 24, 2023

How This Painter’s Artful Pants Caught the Eye of Bella Hadid

December 2, 2021
TCN overhauls equipment for improved electricity supply

Transcorp Power posts bumper profit, declares super dividend

April 2, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Standing With the Bello Family – Justice Must Never Be Cheapened
  • You led with distinction, CG of Customs, hails former boss, Mohammed at 80
  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us