Insecurity, soaring operational costs, others stall ICT tax boom

***Foreign investments nose-dive

***We’re battling unprecedented cost pressures — Operators

By Progress Godfrey

Nigeria’s Information and Communication Technology (ICT) sector recorded its first decline in Company Income Tax (CIT) in four years, reflecting a reversal of fortune in the sector.

The National Bureau of Statistics (NBS) Company Income Tax report showed that CIT from the ICT declined to N63.62 billion in the first quarter of 2026, Q1’26, from N65.52 billion in the corresponding period of 2025, ending a three-year streak of double-digit growth.

Insecurity, soaring operational costs, others stall ICT tax boom

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