Tinubu to reintroduce telecom tax on Nigerians to meet World Bank loan condition
According to a document published by the World Bank, the EMT levy on electronic money transfers through the Nigerian banking system, along with other taxes, is also being considered, in addition to the reintroduction of excises on telecom services.
Tinubu suspended the five per cent excise duty on telecommunications and the Import Tax Adjustment levy on certain vehicles in July 2023. However, the document revealed that negotiations were underway between the World Bank and FG to secure the yet-to-be-approved loan.