Home Business President Tinubu Abolishes 5% Telecoms Excise Duty to Ease Burden on Nigerians

President Tinubu Abolishes 5% Telecoms Excise Duty to Ease Burden on Nigerians

by Joy: News Admin

President Bola Ahmed Tinubu has officially abolished the controversial 5% excise duty on telecommunications services, which previously applied to mobile voice and data usage across the country.

The announcement was made in Abuja on Tuesday by the Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, during a media briefing. He confirmed that the levy, which was initially suspended in 2023, has now been permanently removed under Nigeria’s revised tax laws.

According to Maida, the decision underscores the government’s commitment to reducing financial pressures on citizens and businesses operating within the nation’s digital economy.

“The 5% excise duty is no longer in effect. Initially, it was only suspended, but the President has now completely removed it. I was present when the issue was raised, and he firmly said, ‘No, we cannot place this burden on Nigerians.’ I am pleased that this directive has been upheld in the new legislation,” Maida stated.

President Tinubu first suspended the tax in July 2023, shortly after assuming office, as part of a broader fiscal reform initiative designed to address multiple taxation challenges faced by households and businesses. The suspension was implemented through executive orders aligned with his administration’s economic relief agenda.

However, the issue resurfaced in October 2024, when the National Assembly proposed reinstating the levy as part of wider revenue-generating measures, including new charges on gaming, betting, and lottery services. The telecom industry strongly opposed the move, arguing that it would stifle growth and increase costs for consumers.

With the latest directive, the excise duty has now been permanently scrapped, providing clarity and relief for both telecom operators and millions of Nigerians who rely on affordable communication services.

This decision is expected to further strengthen the digital economy, foster inclusivity, and support innovation across Nigeria’s telecommunications sector.

You may also like

Leave a Comment

Online Media Published By

Precise Post Online Media Ltd (RC 7570339)

We are team of competent journalists, crafting compelling data-driven stories; shedding light on global news with precision and authority.

Precise Post @2024 – All Right Reserved. Designed and Developed by ObserverNG