Business
50% telecom tariff hike: NATCOMS backs decision as NLC bows to FG’s pressure
The Nigeria Labour Congress has bowed to pressure to halt its planned Tuesday nationwide protest against the 50 percent telecommunication tariff hike.
Also, the National Association of Telecoms Subscribers backed the decision by the organized Labour.
The NLC signed a Memorandum of Understanding with the Federal Government after a meeting with the Secretary to the Government of the Federation on Monday night.
In the MoU signed by the SGF, Senator George Akume, NLC president Joe Ajaero, and the Minister of Labour and Employment, Muhammadu Dingyadi, and the National Secretary of NLC, Emmanuel Ugboaja, both parties agreed to set up a technical committee to resolve gray areas in the 50 percent telecom tariff approval.
However, NLC reiterated its rejection of the tariff hike.
“Arising from the meeting convened by the Federal Government of Nigeria on the proposed 50% hike in telecommunications tariffs in the country, which the Nigeria Labour Congress (NLC) expressed strong opposition to, citing its potential negative impact on the Nigerian workers and the economy with a threat to proceed on a one-day nationwide mass protest, the following resolutions were reached:
That there is a need for the parties to sit together in a technical group to resolve most of the thorny areas raised during the discussion; consequently, a 10-man joint committee was set up of five (5) representatives each from the Federal Government and the Nigeria Labour Congress (NLC); and the committee shall conclude and submit its deliberations within two (2) weeks from this 3rd day of February, 2025.
“The parties call on the Nigerian people to remain calm while this committee concludes its assignment,” the communique after the meeting stated.
Earlier, a civic society organisation known as the National Civil Society Council of Nigeria, NCSCN, had announced the suspension of its planned protest against the 50 percent tariff hike.
Recall that last week, NLC announced Tuesday, 4th February, 2025, as a date for a one-day mass protest against the telecom tariff hike.
In a notice last Thursday by NLC National Secretary, Emmanuel Ugboaja, the union had already asked the state congress and affiliate union to mobilise for Tuesday’s mass protest.
This comes after the Nigerian Communications Commission on January 2025 approved a 50 percent telecommunications tariff hike for operators.
The approval has sparked tariff hike controversy in Nigeria’s telecom sector.
NLC and other telecom subscribers had opposed the tariff implementation, citing the persistent economic hardship Nigerians already face.
Subscribers back nationwide protest suspension
On Monday, the National President of NATCOMS, Adeolu Ogunbanjo recommended suspension of the nationwide protest against the 50 percent tariff hike.
According to Ogunbanjo, the protest would hinder investors’ confidence and negatively impact investment in the sector.
NATCOMS had suggested that the government should review the 50 percent telecom tariff to 10 percent.
“NLC shouldn’t conduct mass protests that will affect investors’ confidence.“
The telecom sector has been a leading example in the country.“
NLC should not protest; that would send in wrong signals to investors. They should allow civility to reign in the telecom sector.
“That is why we are supporting only a 10 percent tariff hike for operators. If that is not enough, they should look elsewhere for capitalisation.
Mobilie Network Opertors such as MTN, Airtel. GLO had earlier said that it would soon implement the new tariff hike.
The Minister of Communications and Digital Economy, ‘Bosun Tijani, had cited rising global inflation as justification for the 50 percent telecom tariff hike approval.
The hike would see the cost of recharging calls and data and other telecom services increase by 50 percent.
Recall that the last time NCC hiked telecom tariffs was in 2013.
Business
WEF 2026: Shettima commissions first-ever Nigeria House in Davos
The Vice President noted that although Nigeria House was conceived as a whole-of-government platform, bringing together leadership across trade, investment, foreign affairs, energy, infrastructure, technology, climate and culture, its success would ultimately be driven by private enterprise.
Vice President Kashim Shettima on Monday formally opened Nigeria House, the country’s first-ever sovereign pavilion at the 2026 World Economic Forum in Davos.
Speaking during the commissioning ceremony, Shettima said that nations do not prosper in isolation and stressed that Nigeria’s future growth depends on deliberate, structured engagement with the world.
“For the first time in our nation’s history, Nigeria stands at Davos with a sovereign pavilion of its own,” he said, adding that Nigeria House “reflects our intention, our seriousness, and above all our resolve to take a front-line seat in the discourse of the global economy, not as observers, but as participants with a clear sense of purpose.”
The Vice President noted that although Nigeria House was conceived as a whole-of-government platform, bringing together leadership across trade, investment, foreign affairs, energy, infrastructure, technology, climate and culture, its success would ultimately be driven by private enterprise.
Business
NTA didn’t introduce VAT on charges collected by banks — NRS
The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
Photo: NRS chairman, Zacch Adedeji
The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.
In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.
According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.
The statement reads:
“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
This claim is categorically incorrect.
“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”
Business
LIRS gives employers Jan 31 deadline for filing 2025 tax returns
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.
He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.
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