The Federal Government has revealed it will generate about 160.46 billion naira 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 3.21 trillion naira in 2021. 

Reports state that the amount 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.

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.

The minister who was represented by the Assistant Chief Officer of the Ministry, FRANK OSHANIPIN, said the implementation of the excise duty was in a bid to increase the government’s revenue.