• Nigerian Telcos, Subscribers Reject 5% Excise Duty

  • Oct 21 2024
  • Length: 1 min
  • Podcast

Nigerian Telcos, Subscribers Reject 5% Excise Duty

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  • Summary

  • Nigeria’s telecommunications sector has again strongly rejected the Federal Government’s attempt to reintroduce a 5 per cent excise duty on telecommunications services. Stakeholders described the move as insensitive to the current economic climate and the financial struggles faced by consumers. The excise duty structure in the bill indicates that telecom services, including postpaid and prepaid services regulated by the Nigerian Communications Commission, will attract a five per cent duty. The proposal added that Services, including telecommunications, gaming, gambling, betting, and lotteries, however, described, provided in Nigeria shall be charged with duties of excise at the rates specified under the Tenth Schedule to this Act in a manner as may be prescribed by the Service.

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