Google, Meta, X, others paid N2.55trn taxes to FG in H1 2024 – NITDA

Google, Meta, X (formerly Twitter), TikTok, Microsoft and social media platforms operating in Nigeria have paid N2.55trn ($1.5billion) in taxes to FG in the first six month of 2024, the National Information Technology Development Agency (NITDA) has said. NITDA in a statement on Wednesday said data from the Federal Inland Revenue Service (FIRS) and the […]

Google, Meta, X (formerly Twitter), TikTok, Microsoft and social media platforms operating in Nigeria have paid N2.55trn ($1.5billion) in taxes to FG in the first six month of 2024, the National Information Technology Development Agency (NITDA) has said.

NITDA in a statement on Wednesday said data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) revealed that foreign digital companies, including interactive computer service platforms and internet intermediaries operating in Nigeria were now paying their taxes and this had led to significant increase in revenue for the government.

“Furthermore, data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) reveal that foreign digital companies, including interactive computer service platforms and internet intermediaries (such as social media platforms) operating in Nigeria contributed over N2.55 trillion (approximately $1.5 billion) in taxes in H1 2024. This significant increase in revenue underscores the role of robust regulatory frameworks in shaping compliance and driving revenue growth in digital economy,” the NITDA statement signed by its Head of Public Affairs, Hadiza Umar, said.

The IT regulatory agency also revealed that the social media platforms deactivated about 12.1 million accounts of Nigerians last year for various unarmed offences, while 65.8m contents of Nigerians were taken down for contravening the policies of the social media platforms.

Also, 4.126m registered complaints from Nigerians were received by the social media platforms while 379,433 Nigerian contents were removed and later re-uploaded, following an appeal by the Nigerian owners.

NITDA “commended Google, X, Microsoft, and TikTok for their compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries. The Code which was issued jointly by the Nigerian Communications Commission (NCC), National Broadcasting Commission (NBC), and NITDA outlines clear guidelines for promoting online safety and managing harmful content.”

Daily Trust reports that the 2023 compliance report provides valuable insight into the platforms efforts to address user safety concerns in line with the Code of Practice and the platforms’ community guidelines.

While commending the progress made, NITDA emphasised the need for continued collaboration and innovation by the social media platforms to address emerging challenges and ensure a safer and more responsible digital space.

The agency said remained committed to working with stakeholders to strengthen and enhance user safety measures, digital literacy, trust and transparency.