The President National Association of Telecoms Subscribers, Deolu Ogunbanjo, and the Executive Secretary Association of Telecommunications Companies of Nigeria, ATCON, Mr Ajibola Olude, have commended President Muhammadu Buhari for exempting the telecoms sector from its 5 per cent excise duty.
This is coming on the heels of the Federal Government’s removal of a 5 per cent excise duty from telecom services.
According to the Minister of Communications and Digital economy, Prof Isa Pantami, on Monday, Buhari’s approval would lighten the burden of levies on the telecom sector.
In a swift reaction to the development, Ogunbanjo described it as a send-forth gift by President Muhammadu Buhari to Nigerians.
He, however, insisted that the federal government should do more to take the excise duty law back to the National Assembly for necessary amendments.
“We thank President Muhammadu Buhari for exempting the telecom sector from the 5 per cent excise. It is a send forth give and retirement gift to the industry.
“However, we will need him to ensure that the excise duty law must now be taken back to the national assembly for amendment; otherwise, any president or Minister may come to implement that law. What the President just did is a pronouncement,” he said.
On his part, Olude urged that the federal government should ensure full compliance with the directive.
“We appreciate that the federal government listened to us because the sector is already heavily taxed. I spoke against it. The federal government should cascade its decision to the federal ministry of Finance, Budget and Planning”, he stated.
Disclaimer: No copyright infringement intended. All rights and credits reserved to respective owner(s).