Business
Telecom Operators Urge FG To Cut Taxes To Boost Investments
Published
12 months agoon
By
Editor
The Global System for Mobile Communications Association has urged the Federal Government to reduce telecom taxes to encourage investments and boost the country’s digital economy.
According to Angela Wamola, The Head of Sub-Saharan Africa at GSMA, Nigeria’s complex and burdensome tax regime is hindering the telecom sector’s ability to invest in infrastructure, expand services, and contribute to the country’s economic development.
The GSMA official said in a note shared with Newsmen on Wednesday that the rising operational costs, driven by increasing energy prices, have placed considerable strain on telecom operators.
Wamola explained that the situation was further exacerbated by the difficulty in accessing foreign currency, which is essential for importing the equipment needed to expand and maintain network infrastructure.
“These challenges are not unique to Nigeria; many African markets face similar issues. However, Nigeria’s complex and burdensome tax regime presents additional, country-specific obstacles that severely limit the sector’s potential,” the GSMA chief detailed.
Nigeria’s telecommunications sector has experienced a slowdown in growth and contribution to the country’s GDP in recent years. This decline is attributed to significant financial losses and deteriorating performance among telecom operators.
In 2023, telecommunications companies in Nigeria paid a total of approximately N2.4tn in taxes, a digital economy report from the Groupe Special Mobile Association showed.
This figure represents a significant contribution to the Nigerian economy, as the telecom sector generated around N33tn, accounting for 13.5 per cent of the country’s Gross Domestic Product (GDP) during the year.
READ ALSO: FG May Consider Reduction In Withholding Tax For Telcos
Although the sector has enormous potential, according to Wamola, it is also pressed by the high cost of the right-of-way (RoW) charges, which vary drastically from state to state.
RoW charges are fees paid by telecom operators to landowners or authorities for the use of their land or property for infrastructure deployment.
The GSMA official lamented that despite a 2020 agreement among state governors to set the RoW charge at 145 naira per meter, many states have failed to comply with this rate.
According to her, this non-adherence has resulted in escalated costs for infrastructure deployment, with RoW charges now ranging from 1 per cent to 70 per cent of the additional costs of fiber optic installations, depending on the state.
The GSMA boss noted that this inconsistency not only hinders the deployment of vital infrastructure like fiber optics but also threatens the sector’s ability to finance necessary expansions.
However, if the agreed-upon rate of 145 naira per meter were uniformly applied, the GSMA official said that the cost of deploying fiber across the country could decrease by 15 per cent, making it more feasible for operators to invest in expanding their networks.
Wamola recommended that the government streamline taxes, harmonize right-of-way charges, and reduce multiple levies to encourage investment and enhance digital inclusion.
She argued that reforming telecom taxes would not only benefit the sector but also enhance economic growth, improve connectivity, and increase access to digital services for millions of Nigerians.
Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
1 week agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
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The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
2 weeks agoon
August 11, 2025By
Editor
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
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The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
READ ALSO:
Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
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