Grapevine

Cut telecom taxes to boost investments, operators tell FG

Wamola explained that the situation was further exacerbated by the difficulty in accessing foreign currency, which is essential for importing the equipment needed to expand and maintain network infrastructure.

“These challenges are not unique to Nigeria; many African markets face similar issues. However, Nigeria’s complex and burdensome tax regime presents additional, country-specific obstacles that severely limit the sector’s potential,” the GSMA chief detailed.

Nigeria’s telecommunications sector has experienced a slowdown in growth and contribution to the country’s GDP in recent years. This decline is attributed to significant financial losses and deteriorating performance among telecom operators.

In 2023, telecommunications companies in Nigeria paid a total of approximately N2.4tn in taxes, a digital economy report from the Groupe Special Mobile Association obtained by The PUNCH showed.