Wednesday, March 4, 2026
32.2 C
Lagos

Business

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

Business

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

UAC Records Revenue Surge, Profit Impacted by One-Off Acquisition-Related Costs

UAC of Nigeria Plc has announced its unaudited financial...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Transcorp, DMO, MTN, Dangote Cement, CardinalStone, among Winners at NGX Made of Africa Awards

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel...

Insurance

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

Mrs. Ego Uzochukwu (Award Winner, centre); flanked on her...

Sovereign Trust Insurance Spreads Love with Fire Safety Drive

On Valentine's Day, Sovereign Trust Insurance Plc showed its...

Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

Mutual Benefits Assurance Plc, a leading Nigerian insurance company,...

Love That Protects: AIICO Takes Valentine’s Message to the Streets

In a vibrant twist to this year’s Valentine’s Day...

FOR THE RECORD: SPEECH OF MR OLUSOLA TENIOLA, PRESIDENT, ASSOCIATION OF TELECOMMUNICATION COMPANIES OF NIGERIA (ATCON) AT A COURTESY VISIT TO THE SENATE PRESIDENT ON THURSDAY, NOVEMBER 3RD, 2016

Protocols,

Senate President Sir,

Other distinguished Senators present

Ladies and Gentlemen

We appreciate the Senate President’s speedy response to our request to meet with him.

We congratulate you Sir on all the courageous interventions that the distinguished Senate of the Federal Republic of Nigeria has made to our laws in recent times.

Our mandate is to support the Federal Government to succeed in attracting and protecting investments in the telecommunications industry and to make meaningful input to all aspects of economic development including legislation and management of our industry so it continues to be the oil of growth and development.

The on-going work on the proposed 9% Communication Service Tax Bill (CST) is a trending subject. We would be happy to support Government to make the best of our tax efforts which certainly are key components of strengthening the economy and sustaining our industry. Contrary to uninformed opinions we do not object to reforms in taxation neither do we regard taxes as burden.

No doubt, there is severe pressure at these times and Government revenue cannot be different. We however pray that the template with which the telecom industry is viewed and assessed be slightly modified. The truth, Sir is that there is severe over taxation in our industry. It explains the slow penetration of services into unserved areas of the country. The truth again sir is that contrary to popular belief telecommunication operators and service providers are barely sustaining existence in these times.

There are reasons to suggest that the desire to widen the tax net is laudable and that as things stand telecommunications is about one of the few areas where the net-capture may be widened, we therefore suggest that an increase in VAT tax which is already included in all services of telecommunications by an increase that is not beyond 1% should be a good reform strategy.

Input of recent studies by credible organisations is our guide.

The projections are that a new tax on ICT services as high as 9% that is being proposed would result in excluding 10% of the population, that is talking of about 20 million Nigerians from access. Whereas the survival of our economy is on attracting more citizens into access to internet and therefore ICT services. It does not add up if whatever we do ends up not bringing more people into access.

The reality of Internet access in Nigeria is that it’s all about mobile. Only about 13% of Nigerians get broadband access via mobile while less than 1% does from fixed services.

One of the main reasons the rate of Internet adoption and use is rather slow in Nigeria is the high cost of data subscription.

A 500MB plan costs typically 5.4% of average monthly income. The current definition of affordability used by the UN Broadband Commission is where the price of a broadband plan is less than 5% of average monthly income. If we are to use this definition Nigeria is on the cusp of affordability.

In Nigeria the average income in 2014 was USD$2970 (GNI per capita, source: World Bank), 40% of the population actually earned less than half that amount. In practice this means that a 500MB mobile Internet plan priced at 5.4% of average monthly income actually costs the majority of Nigerians anywhere between 7-18% of monthly income.

In 2013, we planned to achieve 30% broadband penetration by 2018. Current access figure is clearly some way off this target and needs measures to boost growth in usage. A sharp rise in tax as being proposed in the CST will achieve the exact opposite of our desire.

In conclusion, we ask for a reconsideration of the CST Bill.

We recommend, as an alternative, a tax reform that increases the current VAT by a new 1% added for the purpose of development of communications.

Another alternative is that the tax being proposed in the Bill be limited to 0.2%.

Thank you Sir and thank you all for this opportunity and please accept our esteemed regards.

 

Olusola Teniola

National President, ATCON

Hot this week

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

ABoICT Lecture/Awards 2026 to Focus on Impact of AI, IoT on Business Operational Efficiency

The Board and Management of Communication Week Media Limited,...

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary,...

Stanbic IBTC Economic Summit Delivers Strategic Framework for Navigating Nigeria’s 2026 Investment Landscape

Institutional investors, corporate leaders and economic experts gained practical...

Topics

Worldwide Smartphone Sales Grew 3.9% in 1st Qtr 2016

Global sales of smartphones to end users totaled 349...

Heirs Life Assurance Wins ‘Agency Company of the Year’ Award by CIFM

L-R: Yetunde Ayeni, Group Head, Resources, Heirs Insurance Group,...

NAICOM: Tinubu to Headline National Insurance Confab Oct 22

The National Insurance Commission (NAICOM) says President Bola Ahmed...

FG to Expand TSA Coverage in 2017

The Minister of Finance, Mrs. Kemi Adeosun says the...

GOCOP to Host Luncheon with Media Specialists, Advertisers, Others Oct 5

As a prelude to her annual conference on October...

Rex Insurance Unveils Digital Platforms to Drive Motor Insurance Business

Rex Insurance Limited has unveiled new digital platforms designed...

Nigeria, E/Guinea Mull New Opportunities in International Oil Sector

The Governments of Nigeria and the Republic of Equatorial...

Wema Bank Partners Karis and Eleos Hope Foundation to Commemorate World Malaria Day 2023

The World Health Organisation (WHO) reports that the highest...
Exit mobile version