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  • Updated: September 06, 2022

Telecom Companies Applaud FG For Suspending 5% Excise Duty

Telecom Companies Applaud FG For Suspending 5% Excise Duty

The Association of Telecommunications Companies of Nigeria (ATCON) applauded the Federal Government on Tuesday for suspending the 5% excise duty on telecom facilities.

ATCON executive secretary, Ajibola Olude, made the compliment in an interview in Abuja on Tuesday.

He predicted that investors will be eager to invest more money in the sector.

“For me, it is a good development and the Minister should be commended. It is a temporal measure. We hope that it stayed suspended.

" With the announcement, telecommunications operators will have to go back to the status quo.

“The implication is that Investors will be willing to put more money into the industry,” Olude said.

The decision made by the government, according to Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), demonstrated the government's commitment to operators, consumer concerns, and broadband penetration.

“We are pleased about it, it showed that the government is committed to broadband penetration.

“What it will do, it showed to the investors that the government is sensitive to the concerns of consumers of telecom services.

"This had further boosted investors’ and consumers’ confidence in the government and policy markers.

”It is a first step in the right direction,” he said.” Adebayo said.

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