₦airaland Forum

The National Information Technology Development Agency (NITDA) has revealed that foreign digital companies operating in the country, including Google, Microsoft, and TikTok, among others, paid a total of N2.55 trillion in taxes in the first half of this year.

The Agency disclosed this in a statement issued on Tuesday by its Director of Corporate Communications & Media Relations, Mrs. Hadiza Umar, quoting data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS).

NITDA specifically, commended Google, Microsoft, X, and TikTok for their compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries.

The Code which was issued jointly by the Nigerian Communications Commission (NCC), National Broadcasting Commission (NBC), and NITDA outlines clear guidelines for promoting online safety and managing harmful content.

Regulation yielding positive results
While highlighting the impacts of the regulatory framework, NITDA noted that this has also boosted the government’s revenue through the payment of taxes by digital companies.

“Data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) reveal that foreign digital companies, including interactive computer service platforms and internet intermediaries (such as social media platforms) operating in Nigeria, contributed over N2.55 trillion (approximately $1.5 billion) in taxes in H1 2024.

“This significant increase in revenue underscores the role of robust regulatory frameworks in shaping compliance and driving revenue growth in the digital economy,” NITDA stated.

Providing an update on the level of compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries, NITDA said all the digital platforms have been making efforts to address user safety concerns in line with the Code and the platforms’ community guidelines. The highlight of the overall statistics across all the platforms shows that:

The platforms received 4,125,283 (Four million, one hundred and twenty-five thousand, two hundred and eighty-three) registered complaints in 2023.
Content takedown: 65.8 million
Content removed and re-uploaded after appeal by users: 379,433

Closed and deactivated accounts: 12.09 million
While commending the progress made, NITDA emphasizes the need for continued collaboration and innovation to address emerging challenges and ensure a safer and more responsible digital space.

What you should know
NITDA in June 2022 announced the Code, which seeks to regulate social media blogs and online publications.

Part of the Code dictates that internet platforms including social media must:

Act expeditiously upon receiving a notice from a user, or an authorised government agency of the presence of unlawful content on its Platform.

Act quickly to remove, disable, or block access to non-consensual content that exposes a person’s private areas, full or partial nudity, sexual act, deepfake, or revenge porn, where such content is targeted to harass, disrepute, or intimidate an individual. Disclose the identity of the creator of information on its Platform when directed to do so by a Court order.

Provided that an order of this nature shall apply for the purpose of preventing, detecting, investigating, or prosecuting an offence concerning the sovereignty and integrity of Nigeria, public order, security, diplomatic relationships, felony, incitement of an offence relating to any of the above or in relation to rape, child abuse, or sexually explicit material.

Source: https://nairametrics.com/2024/12/04/google-microsoft-tiktok-others-pay-n2-55-trillion-taxes-in-nigeria-in-half-year-2024-nitda/

I attended Zenith Bank's Hackathon and Bluechip Hackathon and drew one conclusion - technology is still a bubble in Nigeria. The brick-and-mortar traditional banks are the richest businesses in Nigeria. While Zenith Bank gave 25m to its winner, Bluechip gave 1.5m to its winner.

If Nigeria wants to cash in on tech the way America is doing now, the government must be intentional about devoting at least 10% of its budget to talent development, research and infrastructure development. A sizeable fraction of the taxes paid by tech companies should be reinvested in tech development.

Yet we see no place in this country where that money is put to good use.

SmartPolician:
I attended Zenith Bank's Hackathon and Bluechip Hackathon and drew one conclusion - technology is still a bubble in Nigeria. The brick-and-mortar traditional banks are the richest businesses in Nigeria. While Zenith Bank gave 25m to its winner, Bluechip gave 1.5m to its winner.

If Nigeria wants to cash in on tech the way America is doing now, the government must be intentional about devoting at least 10% of its budget to talent development, research and infrastructure development. A sizeable fraction of the taxes paid by tech companies should be reinvested in tech development.

Hmmmm

All that , no subsidy and we are still borrowing

FG already started working on increasing their income, let the states do same too

Money wey Jagaban don loot since...

See loot......let the looting commence

Omo the looting in this government is painful. With all the income, we still borrowing and bankrupt

“Let us make our future now, and let us make our dreams tomorrow’s reality.” – Malala Yousafzai

So the gov't is seeing this much from tech and have refused to invest in it. Even if it's just 10% of this for a start.

Good one! Unlike crypto platforms who don't want to pay tax to where they earn incomes.

This is an excellent submission and it is the way to go.

SmartPolician a:
I attended Zenith Bank's Hackathon and Bluechip Hackathon and drew one conclusion - technology is still a bubble in Nigeria. The brick-and-mortar traditional banks are the richest businesses in Nigeria. While Zenith Bank gave 25m to its winner, Bluechip gave 1.5m to its winner.

If Nigeria wants to cash in on tech the way America is doing now, the government must be intentional about devoting at least 10% of its budget to talent development, research and infrastructure development. A sizeable fraction of the taxes paid by tech companies should be reinvested in tech development.

techbro1:
Yet we see no place in this country where that money is put to good use.

That money came from the hustling southern Nigerias, mainly. They hustled and used these platforms for many things and these platforms took tax and gave Nigerian govt. As we run ad, tax are taken from us and given to Nigerian politicians who in turn, use it to buy properties, carry women and waste it.
As we are going into tax driven economy, I like it. At least, Nigerians may actually get more angry when they see how useless their politicians are in wasting their tax money.
Each time I suffered and do software gigs for clients abroad, tax is taken from my sweat and sent to Nigerian govt. Yet, I have to install solar for electricity, dig bore hole for water, pay for security in our estate for protection, handle waste bin my self! Drive my car on terrible roads that keep damaging my car legs. There is nothing Nigerian politicains do for Nigerians. Nothing.

SmartPolician:
I attended Zenith Bank's Hackathon and Bluechip Hackathon and drew one conclusion - technology is still a bubble in Nigeria. The brick-and-mortar traditional banks are the richest businesses in Nigeria. While Zenith Bank gave 25m to its winner, Bluechip gave 1.5m to its winner.

If Nigeria wants to cash in on tech the way America is doing now, the government must be intentional about devoting at least 10% of its budget to talent development, research and infrastructure development. A sizeable fraction of the taxes paid by tech companies should be reinvested in tech development.

Not a bad idea at all

If this is true then, can somebody tells us why the endless borrowing in Nigeria to finance budget. They say custom generate 2 trillion naira per year and you begin to wonder where is the money going to. Nigerians are tired

This is probably why naira has been gaining really strong against dollar. From 1720 to 1640.

There's no better time to join cbex, st than now. Make usd cash. Check my siggy, profile to see how to go about it.

Thewrath:
This is the money Lagos landlord is fight for with hidden clauses in his yoruba tax bill

Yoruba Tax bill??

Tribalism kill you 😁

Nah why U dey support serial loser.

U are also a loser too

They keep on paying taxes but Nigeria keep on borrowing. Major telecommunication companies are paying more than ten times of these as tax but yet nothing to show for it. Nigeria will continue to be in this condition so far we keep on voting these evil politicians into power. No wonder Emefiele could pull that gigantic fraud off.

They increase advertising cost of Nigeria goods.
The Nigeria company add expense to the commercial finance component of selling price.

Nigeria and ronu pay.

Rinse repeat.


Revenue generation is shit if its not reflected as development.

Some apc ronu will want to argue.

Are these taxes going to Lagos too? If yes, Lagos would be praying that, north should successfully scuttle the new tax bills in the national assembly.

Princedapace:
That money came from the hustling southern Nigerias, mainly. They hustled and used these platforms for many things and these platforms took tax and gave Nigerian govt. As we run ad, tax are taken from us and given to Nigerian politicians who in turn, use it to buy properties, carry women and waste it.
As we are going into tax driven economy, I like it. At least, Nigerians may actually get more angry when they see how useless their politicians are in wasting their tax money.
Each time I suffered and do software gigs for clients abroad, tax is taken from my sweat and sent to Nigerian govt. Yet, I have to install solar for electricity, dig bore hole for water, pay for security in our estate for protection, handle waste bin my self! Drive my car on terrible roads that keep damaging my car legs. There is nothing Nigerian politicains do for Nigerians. Nothing.

Your anger is very valid. I feel the same way when I travel on nigerian roads. I hate the government so much, just as much as I hate the Police and Military. I won’t pass on any opportunity to gtf out of here

AK481:
They increase advertising cost of Nigeria goods.
The Nigeria company add expense to the commercial finance component of selling price.

Nigeria and ronu pay.

Rinse repeat.


Revenue generation is shit if its not reflected as development.

Some apc ronu will want to argue.

While the ronu determing the wealth of Nigeria, biaafraud only, wailing and gnashing their teeth in every forum.


The day the empty basket in in front of dot-nation would full of tears, nobody knows.

techbro1:
Your anger is very valid. I feel the same way when I travel on nigerian roads. I hate the government so much, just as much as I hate the Police and Military. I won’t pass on any opportunity to gtf out of here

I dont blame politicians! The police and military protect them and some foolish masses love them. Left for me, I will injure the eyes of any politician that I see. After 60 years, u still cant give me electricity.
Look at these useless northern politicians, fighting over a tax bill. I mean, logically, why would u collect tax for alcohol when u destroy alcohol buisness in the north?
How can alcohol ne haram but the money that comes from Alcohol is not haram? How? Them swear for black people? If i catch any of these old men, very usless generation that wasted this country, any day I see them face to face, aswear to god, I will punch the living day light out of that person, especially those northern politicians.
We should stop sharing revenue based on population becus some states will never curb birth rate so that they can keep getting money and waste it on Gwagon.
See, if any of u are here and u work with govt, tell them that people like us are growing in numbers who hate u politicians for the trauma u guys caused for us. And one day, if u dont pay for it, ur kids will pay someday. Ur kids will pay for these sins someday. Some day the masses will decend on you guys.

SmartPolician:
I attended Zenith Bank's Hackathon and Bluechip Hackathon and drew one conclusion - technology is still a bubble in Nigeria. The brick-and-mortar traditional banks are the richest businesses in Nigeria. While Zenith Bank gave 25m to its winner, Bluechip gave 1.5m to its winner.

If Nigeria wants to cash in on tech the way America is doing now, the government must be intentional about devoting at least 10% of its budget to talent development, research and infrastructure development. A sizeable fraction of the taxes paid by tech companies should be reinvested in tech development.

Lol. Nigerian govt that has even cancelled scholarship trainings abroad to its outstanding employees. You are talking or research funding.

Research is a strange word to our govt now o. They are only looking at loans / govt bonds / and expansion of taxing windows.

All these money yet nothing to show.

Is this the target for the VAT tax bill?. What will their VAT be like and how is that distributed. There so many open points in this TAX bill

SmartPolician:
Source: https://nairametrics.com/2024/12/04/google-microsoft-tiktok-others-pay-n2-55-trillion-taxes-in-nigeria-in-half-year-2024-nitda/

Kudos to Prof Isah Patami

The minister during Buhari era

He started this taxing of foreign tech companies