Highlight

Tech Giants Pay N2.55trn in Taxes to Nigeria – NITDA

159

The National Information Technology Development Agency (NITDA) has disclosed that global digital companies, including Google, Meta, X (formerly Twitter), TikTok, and Microsoft, paid N2.55 trillion (approximately $1.5 billion) in taxes to the Nigerian government in the first half of 2024.

The development marks a significant boost in government revenue from the digital economy sector.

NITDA made this announcement in a statement released on X on Wednesday, titled “NITDA Commends Tech Giants for Adhering to Code of Practice.”

Persecondnews reports that the agency attributed the revenue surge to increased compliance with Nigeria’s tax regulations by foreign digital platforms operating within the country.

The statement, signed by Mrs. Hadiza Umar, NITDA’s Head of Public Affairs, cited data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS).

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

NITDA also provided updates on content moderation efforts by the social media platforms in 2023.

The agency revealed that approximately 12.1 million Nigerian accounts were deactivated for various policy violations, while 65.8 million pieces of Nigerian content were removed for breaching platform rules.

In addition, 4.126 million user complaints from Nigerians were registered by the platforms.

Of these, 379,433 pieces of content were initially removed but later reinstated after successful appeals by the content creators.

NITDA commended Google, X, Microsoft, TikTok, and other platforms for adhering to the Code of Practice for Interactive Computer Service Platforms and Internet Intermediaries.

The Code, jointly issued by NITDA, the Nigerian Communications Commission (NCC), and the National Broadcasting Commission (NBC), aims to enhance online safety and address harmful content effectively.

The agency praised the platforms’ efforts to uphold user safety, urging continued collaboration and innovation to tackle emerging digital challenges.

“The 2023 compliance report provides valuable insights into the platforms’ efforts to address user safety concerns in line with the Code of Practice and community guidelines,” NITDA said.

The agency emphasized that while progress has been made, maintaining a safer and more responsible digital space requires sustained commitment from all stakeholders.

Leave a comment

Related Articles

Prince Yormie Johnson: Liberian Warlord with Many Lives Finally Goes Home

When the news filtered in on Saturday, November 28th, 2024, that Prince...

In a gale of defection, five reps dump opposition parties for APC

In a gale of defection, five members of the House of Representatives...

NNPC Ltd. GCEO Kyari defends PH refinery operations, says facility is producing

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited...

Ex-Pres. Jonathan arrives in Ghana, urges transparency in country’s Dec. 7 polls

Former Nigerian President Goodluck Jonathan has called on Ghanaians to show patriotism...

Grace Ike Elected First Female NUJ FCT Chairperson, Promises Reforms

Grace Ike, a journalist with Advocate Broadcasting Network (ADBN), has been elected...

Protesting military retirees shut down Federal Ministry of Finance, Abuja, over unpaid entitlements

Some retired military personnel brought activities at the Federal Ministry of Finance...

First time ever, Ogun state budget hits trillion naira mark, about N300bln higher than 2024 budget

Ogun Gov. Dapo Abiodun has presented a jumbo size budget of N1.05...

CBN clarifies early exit package as voluntary amid staff retirement concerns

The Central Bank of Nigeria (CBN) has clarified that its Early Exit...

Tax reform bills: Senate inaugurates committee to interface with FG

In a step towards addressing concerns about the contentious tax reform bills,...

Namibia Elects First Female President, Netumbo Nandi-Ndaitwah, Amid Controversy

In a historic electoral milestone for Namibia, Netumbo Nandi-Ndaitwah has been elected...

Alleged defamation: Court remands human rights lawyer Farotimi, adjourns until Dec. 10

Chief Magistrate Abayomi Adeosun on Wednesday in Ado Ekiti, the Ekiti State...

N65,000 he-goat theft: Teenager gets magistrate’s mercy, jailed for 30 days with N10,000 fine option

Guilt-racked goat thief, David Jonah, a teenage student, was lucky to have...

Alleged mismanagement of £1.87m church funds: UK shuts down Nigerian pastor’s church, may face deportation

A Nigerian pastor whose church was shut down over an alleged £1.87...

NSC DG Olopade Calls for Unified Supporters Club to Bolster Nigerian Sports

The Director General of the National Sports Commission (NSC), Bukola Olopade, has...

Why we withheld identities of owners of forfeited 753 duplexes in Abuja – EFCC

The Economic and Financial Crimes Commission (EFCC) has defended its decision not...

Reps chide House spokesman, Rotimi, over endorsement of Tinubu’s tax reform bills ahead of debate

A heated debate erupted in the House of Representatives on Tuesday after...

Yuletide: Nigerian airline slashes domestic flight fares to N80,000 on all routes

In an effort to make air travel more affordable during the forthcoming...

Nigeria’s private sector records first job decline in months amid inflationary pressures

Nigeria’s private sector experienced its first decline in employment in seven months,...

Dogara, ex-Reps Speaker and Tinubu’s critic, endorses tax reform bills, urges Northerners’ support

In a volte face, a former Speaker of the House of Representatives,...