Telecommunications subscribers may need to pay more for calls, data and SMS as Federal Government has concluded plans to impose 5 per cent Excise Duty on all telecommunications services.
The new 5 per cent Excise Duty is part of the new Finance Act signed into law by the President in 2020.
A stakeholders’ forum organised by the Nigerian Communications Commission (NCC) on the proposed implementation of the Excise Duty on all telecommunications services in Nigeria was held in Abuja.
The Minister of Finance, Budget, and Planning, Mrs Zainab Ahmed, pleaded with stakeholders during her presentation to support the implementation of the 5 per cent exercise duty on telecommunications services, stating that the decision was motivated by the Federal government’s declining oil and gas revenue.
Zainab, who was represented by Mr Musa Umar, Assistant Director, Tax and Policy, praised the NCC for giving her the chance to speak with stakeholders and for welcoming their contributions to the effort to generate money.
She emphasized how other African nations, like Malawi, Uganda, Tanzania, and others, have embraced this method of generating income.
Meanwhile, the Association of Licensed Telecoms Operators of Nigeria (ALTON), Association of Telecommunications Companies of Nigeria (ATCON) and National Association of Telecoms Subscribers (NATCOMS) have kicked against the move.
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