The federal government is to generate about N1.2 trillion from Revenue Assurance Solution of Network Operators in the country, in 10 years.
The Infrastructure Concession Regulatory Commission (ICRC) provided the estimate in a statement by its Acting Head Media and Publicity, Mr. Manji Yarling, in Abuja
The Federal Executive Council (FEC) approved the Revenue Assurance Solution (RAS) project through the Design, Finance, Build, Operate and Transfer (DFBOT) Public Private Partnership (PPP) model, on Wednesday.
The RAS, was designed by the Nigerian Telecommunications Commission (NCC) and the Federal Ministry of Communications and Digital Economy (FMCDE), to improve the collation and collection of Annual Operating Levy (AOL) from network operators.
According to Yarling, “With the approval by FEC and a requisite vetting by the Federal Ministry of Justice, the next stage will be the commercial close – contract execution, with Messrs 3R Consortium as the Private Partner.
“The RAS which is to span a 10-year period, is expected to increase the revenue accruals from AOL to the tune of N1,207,016,942,000:00 (One trillion, two hundred and seven billion, sixteen million, nine hundred and forty two thousand naira only) within the period.”
He explained that the NCC proactively initiated the process for the deployment of an RAS with the aim of blocking revenue leakages by ensuring that there were no errors in computing and collection of the AOL due to the Federal Government.
His words, “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 Annual Operating Levies and 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’’.