Telecom
FG to Begin Implementation of Telecoms and Beverage Taxes in 2023
Federal government through the Budget Office of the Federation has revealed that it will begin the implementation of its proposed excise duties on telecommunication services and beverages in 2023.
This is despite public outcry against the proposed excise duties.
The Budget Office of the Federation, which is under the Ministry of Finance, Budget and National Planning, revealed its plan in its ‘2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategy Paper,’ which was released at the weekend.
According to the ministry, this was in a bid to boost its non-oil revenue streams.
Mrs. Zainab Ahmed, minister further said that it expected excise duty revenue to grow exponentially because of the introduction of telecoms service charge.
Discussing the tax which is under the purview of the Nigeria Customs Service, the government said the NCS would introduce frameworks for recovering duties, taxes, and appropriate fees from transactions conducted over electronic networks.
Explaining one of the strategies that would be implemented to improve Customs’ revenue collections over the period 2023-2025, the office said, “Full implementation of excise duty on telecom services, alcoholic, sugar-sweetened beverages, cigarettes and tobacco products.
“Therefore, excise revenue is expected to grow exponentially because of the introduction of the telecom service charge and SSBs”
It explained that the law now empowered the FIRS to appoint anyone as its agent to withhold or collect VAT and remit same to the service.
Stating the government’s plight, the budget office said, “Revenue generation remains the major fiscal challenge of the Federal Government.
“The systemic resource mobilisation problem has been compounded by recent economic recessions. Recognising that domestic revenue mobilization is important for sustainable development, the Federal Government has instituted the Strategic Revenue Growth Initiatives to improve government revenue and entrench fiscal prudence, with emphasis on achieving value for money.
“These measures include improving the tax administration framework, including tax filing and payment, as well as the introduction of new and/or further increases in existing pro-health taxes like excise on sugar-sweetened beverages, tobacco, and alcohol. Mixed reactions have greeted the implementation of these measures.”
Speaking at a stakeholders’ forum on the implementation of excise duty on telecommunications services in Nigeria, the minister of Finance Budget and National Planning, who spoke through Mr Frank Oshanipin, assistant chief officer of the Ministry, said, “The duty rate was not captured in the Act because it is the responsibility of the President to fix rate on excise duties and he has fixed five per cent for telecommunication services which include GSM.
“It is public knowledge that our revenue cannot run our financial obligations, so we are to shift our attention to the non-oil revenue. The responsibility of generating revenue to run the government lies with us all.”
Responding to the new levy, Gbenga Adebayo, chairman, Association of Licensed Telecom Owners of Nigeria (ALTON), had said telecom consumers would bear the burden of this additional five per cent tax, bringing the total tax paid by consumers to 12.5 per cent.
Also the proposed duties have come under backlashes from Isa Pantami, minister of Communications and Digital Economy, and the Manufacturers Association of Nigeria (MAN).
Pantami had during the maiden edition of the Nigerian Telecommunications Indigenous Content Expo organised by the Nigeria Office for Developing the indigenous Telecom Sector, slammed the five per cent tax on telecoms services. He said, “The Ministry of Communications and Digital Economy is not satisfied with any effort to introduce excise duty on telecommunication services.
“Beyond making our position known, we will go behind the scenes and go against any policy that will destroy the digital economy sector. We will go to any extent to legitimately and legally defend its interest.”
Source….Punch
News
NITDA Communications Director Hadiza Umar Named in 2026 PR Power List, Graces Glazia Magazine Cover
Mrs. Hadiza Umar, Director of the Corporate Communications and Media Relations Department at the National Information Technology Development Agency (NITDA), has been officially recognised as one of Nigeria’s top public relations professionals in the prestigious 2026 PR Power List.
The definitive annual list, compiled by GLG Communications in partnership with The Guardian, was unveiled to commemorate World PR Day.
It celebrates 50 outstanding professionals within Nigeria and the diaspora whose strategic communication strategies have significantly shaped organisations, influenced public discourse, and advanced the profession over the past 12 months.
Adding to the momentous milestone, Mrs. Umar was hit with a major surprise at the exclusive PR Power List Soirée and Awards ceremony held at the Alliance Française in Ikoyi, Lagos, where she was unveiled as a front-cover personality for the Glazia Magazine PR Power List Special Issue.
The double recognition highlights her exceptional distinction and impact in public sector communications and narrative management.
Speaking on the dual achievement, Mrs. Umar expressed profound gratitude for the honours, describing the magazine cover appearance as a breathtaking surprise.
“I am deeply humbled and honored to be recognized on the 2026 PR Power List and to feature on the cover of Glazia Magazine alongside other exceptional industry titans,” Umar said.
“This milestone is a testament to the enabling environment and visionary leadership of the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE, which has allowed us to strategically drive the narrative of Nigeria’s digital economy and technological innovation.”
Mrs. Umar, a highly respected corporate communications strategist, holds professional fellowships in the Nigerian Institute of Public Relations (Chartered), the African Public Relations Association (APRA), and the Institute of Corporate Administration (CICA).
Under her supervisory role, NITDA’s media relations have consistently projected national information technology frameworks, start-up support frameworks, and digital literacy initiatives, to position Nigeria competitively on the global stage.
The 2026 PR Power List selection process involved a rigorous, independent evaluation led by a distinguished international jury.
The organisers noted that the class of 2026 represents professionals raising the standard of strategic communications and introducing new ideas to the industry.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
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