Tinubu Removes Proposed 5% Excise Duty On Telecom Services
President Bola Tinubu has removed the proposed 5% excise duty on telecommunication services in Nigeria. The Nigerian Communications Commission (NCC) Executive, Aminu Maida, confirmed the news in Abuja.
The Federal Government had initially announced plans to implement the excise duty tax to increase revenue but suspended the move in September 2022. A committee chaired by the Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami, recommended the complete removal of the levy.
Maida stated that the levy has been entirely scrapped, providing relief to both operators and subscribers. Tinubu's decision aims to support economic growth and digital inclusion while balancing revenue generation.
Nigerians are pleased with the removal of the excise duty, as it eliminates an additional financial burden on telecom services.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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