Telecom Services: Relief for Nigerians as FG Abolishes 5% Tax
Nigerian telecom subscribers can breathe a sigh of relief as the Federal Government has officially scrapped the 5% excise duty on telecom services. This decision, initially implemented as a suspension, marks a significant step towards alleviating the financial burden on over 170 million Nigerians who rely on voice and data services. The removal of the levy is expected to have a positive ripple effect, fostering growth within the telecom sector and boosting the nation’s digital economy.
Boosting Telecom Sector Growth and Digital Inclusion
Dr. Aminu Maida, the Executive Vice-Chairman of the Nigerian Communications Commission (NCC), emphasized that the elimination of the 5% excise duty will promote substantial growth in the Nigerian telecom sector. He highlighted President Bola Ahmed Tinubu’s direct intervention in preventing the tax from being imposed on Nigerians, showcasing the government’s commitment to easing financial pressures on its citizens. This move is anticipated to stimulate economic activity and promote digital inclusion across the country, making vital communication services more accessible to a wider segment of the population.
The abolishment of this tax represents a significant win for Nigerian consumers and the telecom industry. By reducing the cost of voice and data services, the government is actively fostering a more connected and digitally inclusive Nigeria, which will undoubtedly contribute to economic growth and development.
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