The National Information Technology Development Agency of Nigeria announced that major foreign tech companies like Microsoft, Google, and TikTok paid taxes amounting to N2.55 trillion in the first half of the year.
Contribution of Foreign Tech Companies
According to data from the Federal Inland Revenue Service and the National Bureau of Statistics, foreign digital companies contributed over N2.55 trillion in taxes to Nigeria's budget for the first half of 2024. These revenues highlight the impact of stringent regulatory frameworks on revenue growth in the digital economy.
Compliance and Content Removal
Companies such as Google, X (formerly Twitter), Microsoft, and TikTok removed over 65 million pieces of content from their platforms following user complaints. They review and act upon content appeals.
Continued Efforts by NITDA
NITDA continues its efforts to enhance digital safety in Nigeria, collaborating with TikTok and DSN on projects. The agency also warns of cyber threats linked to Spotify.
Tech companies continue to contribute significantly to Nigeria’s economy through tax compliance and content moderation, ensuring a safe digital space.
