FG approves RAS project, to generate N1.2trn in 10 years

Following the review and issuance of compliance certificate of the Full Business Case (FBC) by the Infrastructure Concession Regulatory Commission (ICRC), the Federal Executive Council (FEC) has given approval for the Revenue Assurance Solution (RAS) project through the Design, Finance, Build, Operate and Transfer (DFBOT) Public Private Partnership (PPP) model.

The RAS, designed by the Nigerian Telecommunications Commission (NCC) and the Federal Ministry of Communications and Digital Economy (FMCDE), seeks to improve the collation and collection of Annual Operating Levy (AOL) from network operators.

A statement signed by Ag. Head, Media & Publicity, Manji Yarling, said, “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.

“The NCC proactively 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 statement explained.

“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’’.

Related content you may like