FG TO GENERATE N160BN FROM CALL, DATA TAXES

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The Federal Government will generate about N160.46bn from excise duty on telecommunication services in 2023.

According to the Nigerian Communications Commission, the combined revenue of operators in the GSM, Fixed Wired, and Internet Service Providers was N3.21tn in 2021. If the government implements its five per cent excise duty on telecom services, it will generate about N160.46bn.

The amount, however, assumes that the revenue of the telcos would be static. But in real terms, it could either be higher or lower depending on economic fundamentals in 2022.

Recently, the Federal Government disclosed a plan to implement a 5 per cent excise duty on telecom services in the nation.

This was revealed by the Minister of Finance Budget and National Planning, Zainab Ahmed, during a stakeholders’ forum on the implementation of excise duty on telecommunications services in Nigeria.

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