FG Scraps 5% Telecom Tax to Ease Costs for Nigerian Subscribers
The Federal Government of Nigeria has removed the 5% excise duty on telecommunication services, aiming to reduce costs for the country's 171 million active telecom users. The tax removal follows President Bola Tinubu's directive to ease the financial burden on subscribers facing a 50% tariff increase earlier in the year.
The move is expected to provide relief to telecom operators and consumers who were already grappling with multiple taxes and levies. The Nigerian Communications Commission confirmed the policy reversal, highlighting the government's recognition of the challenges faced by the telecom industry and the need to support the sector's growth amidst revenue shortfalls.
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