Aare (Surveyor) Dr. Segun Osifeso, Aare Atunluse of Awori Kingdom and Chairman of Mapcotec Nigeria Limited, has applauded the Federal Government’s decision to revoke the 5% excise duty on telecommunications services and suspend the 5% fuel surcharge provided for in the recently signed Tax Administration Act 2002.
Speaking with journalists in Ota, Ogun State, over the weekend, Osifeso said the policy reversal would bring significant relief to more than 171 million active telecom subscribers nationwide, while also preventing additional financial strain on households and businesses.
“The decision reflects President Bola Tinubu’s awareness of current economic pressures. Had the telecom tax remained, it would have further increased the cost of communication, hurting consumers and businesses alike,” he said.
Osifeso further explained that the suspension of the fuel surcharge would prevent an additional spike in costs across various sectors, noting that the move would encourage business growth, make communication more affordable, and boost Nigeria’s expanding digital economy.
“This action by the Federal Government demonstrates its responsiveness to public concerns and its commitment to reducing the cost of living for Nigerians,” Osifeso concluded.
