The Federal of Nigeria is set to generate N1.2 trillion from telecommunications operators in the next 10 years.
In order to actualize this mission, the Federal Executive Council (FEC) has authorised the Nigerian Communications Commission (NCC) to operate the Revenue Assurance Solution (RAS) for 10 years.
It was learnt that within that period, the RAS is expected to generate N1.2 trillion by blocking revenue gaps.
A statement from the Infrastructure Concession Regulatory Commission (ICRC) yesterday in Abuja said the Federal Executive Council (FEC) granted the NCC the approval to operate the RAS platform after it received the certificate of the Full Business Case (FBC) from the ICRC.
The RAS was designed by the Nigerian Communications Commission (NCC) and the Federal Ministry of Communications and Digital Economy (FMCDE), with the aim of improving “the collation and collection of Annual Operating Levy (AOL) from network operators”.
The RAS which is to span a 10-year period, is expected to increase the revenue accruals from AOL to the tune of N1.21 trillion within the period.
The ICRC noted that “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”.
Messrs 3R Consortium on behalf of the NCC will Design, Finance, Build, Operate and Transfer (DFBOT) the RAS under the Public Private Partnership (PPP) model.
The NCC “initiated the process for the deployment of an RAS with the aim of blocking revenue leakages by ensuring that there are no errors in computing and collection of the AOL due to the Federal Government”, the ICRC said.
The ICRC added that “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”
The RAS will also ensure that the telecommunications operators “meet other regulatory obligations without any miscalculations and/or exemptions based on faulty and inaccurate data and information”.