President Bola Tinubu said the Federal Inland Revenue Service will examine a request to lower the tax that telecommunications companies pay in the country.
Tinubu suggested this when responding to a request from a delegation of the American Tower Corporation (Nigeria) who visited him at the Aso Rock Villa, Abuja, on Thursday.
ATC had said that doing this would encourage investments in telecommunications and broadband infrastructure.
According to a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President said the FIRS would “review the matter and provide a solution that is in the best interest of both the investors and the Nigerian people.
“Every citizen, whether at the corporate or individual level, fights tax. Let us work with the FIRS and see how we can slice the cake.
“If the country has a good path of growth, it is a greater opportunity for you to invest.”
The statement is titled, ‘President Tinubu directs prioritization of digital infrastructure investments to enhance business efficiency and productivity.’
Tinubu also directed the Federal Ministry of Communications, Innovation, and Digital Economy, the FIRS, and the Federal Ministry of Environment to align regulations and tax frameworks to facilitate investment expansion in telecommunications and broadband infrastructure nationwide.
He expressed dissatisfaction with the bureaucratic pace in permit issuance processing for companies operating in the digital infrastructure sector.
The Chief Executive Officer of ATC Africa, Mr Marek Busfy, had expressed ATC Nigeria’s commitment to expanding its investments in the country, which have already surpassed $2.19bn since its commencement of Nigerian operations in 2015.
Busfy also emphasized ATC’s commitment to delivering value to subscribers while reducing greenhouse gas emissions associated with its operations.
Responding, President Tinubu commended ATC Nigeria for its significant contributions and investments in the country’s ICT sector, highlighting the importance of innovative solutions to bridge the digital divide.
The President lauded the ongoing efforts of the Federal Ministry of Communications, Innovation, and Digital Economy to promote digital connectivity across the nation, particularly the 3 Million Technical Talent programme that functions to upskill three million Nigerian youths in digital literacy and innovation through innovation incubators nationwide.
He outlined ongoing initiatives to establish broadband connectivity in all 774 local government secretariats within six months, leveraging existing infrastructure, such as NIGCOMSAT and Galaxy Backbone’s fibre optic network.
”In the area of ease of doing business, no nation can make progress without paying attention to the opportunities that are right in front of them. We have a vibrant youth population that has successfully innovated without much government support.
“What now happens in this era when we are providing massive support to their digital economic activities? They will do very well. You are investing in the right place at the right time.
The President mentioned that, considering the population and land mass, they need investments to prepare for increased digital use in the telecommunications sector and the specific digital education needed for the competitive, knowledge-based global economy of the 21st century.
President Tinubu promised to address concerns about the ease of doing business in Nigeria and assured the delegation of his administration’s dedication to implementing reforms that will remove bureaucratic constraints.
The CEO of ATC Africa reiterated the company’s readiness to invest more in Nigeria’s ICT infrastructure to meet the growing demand for data. They also praised the administration's clear strategy, particularly commending the efforts of the Honourable Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani.
The speaker expressed their admiration for the clarity of strategy by the current administration in the ICT sector and highlighted the administration’s 3MTT programme.
Over the last year, the company has invested over $200 million in expanding their infrastructure in Nigeria and is prepared to do more. They have hired several hundred people in Nigeria and indirectly impacted 25,000 more. They have also paid about $400 million in direct and indirect taxes.
Mr. Busfy stated that as an American company, they are often questioned about their experience in Africa and Nigeria, emphasizing their ethical approach to business.
