Buhari approves exemption of 5 percent excise duty for digital economy sector

The Minister of Communications and Digital Economy, Prof Isa Pantami, disclosed this on Tuesday at the Digital Economy Complex,  Mbora, Abuja while briefing newsmen on the outcome of the meeting of the Presidential Review Committee on Excise Duty.

Also, the Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Danbatta said data prices in the telecoms sector are expected to reduce due to availability of data and competitions.

Pantami listed members of the Committee as himself, the Minister of Finance and Economic planning,  the Chairman of the Federal Inland Revenue Service, (FIRS), the Executive Vice Chairman of the Nigerian Communications Commission, NCC,  the representatives of Nigeria Customs Service, Mobile Network Operators, amongst others.

He expressed the appreciation of all stakeholders in the digital economy and telecoms sector to the President,  saying the decision to exempt the sector was in recognition of its contribution to Gross Domestic Product (GDP) of the country in the past three years.