Telecommunications subscribers in the country could soon be paying 5 percent more for data and voice services if President Bola Tinubu signs  Nigeria Tax Bill 2024 into law.

Passed in the Senate on May 8, 2025, the bill reintroduces a controversial 5 percent excise tax on telecom services, a move telecom operators, subscribers and consumer rights groups have strongly opposed.

The bill revived the excise tax first introduced in the Finance Act of 2020 during the administration of former President Muhammadu Buhari.

President Bola Ahmed Tinubu had suspended the tax in July 2023, citing concerns that it could exacerbate inflation and hinder access to digital services, especially for low-income Nigerians.

The 2020 Finance Act had expanded the list of goods and services subject to excise duty, including telecom services.

However, the measure drew immediate and widespread criticism from telecom operators and consumer advocacy groups, who argued that the additional cost would burden citizens and increase the price of essential services in an already fragile economy.

Excise duty is a tax on certain goods produced or sold within a country and other activities as may be specified in the enabling law, including services.

As contained in the 2022 Finance Act, the tax is chargeable on all services regulated by the Nigerian Communications Commission (“NCC”) listed as postpaid and prepaid services at the rate of 5% for 2022, 2023 & 2024.

According to a report by PWC at the time, prior to the suspension of excise duty on certain goods in 2009, excise duty was applicable on recharge cards/vouchers.

The telecommunication companies are to pay the tax based on the excisable value of postpaid and prepaid services.

In July 2023, President Tinubu signed an Executive Order suspending the “5% Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.”

Mastercard Economics Institute (MEI) has released its annual Travel Trends 2025 report, revealing the latest consumer spending insights and motivation when it comes to travel.

Cross-border movement is often influenced by the most pressing economic factors of the moment, such as exchange rates and geopolitical tensions. However, these are not the only factors driving consumers’ travel spending decisions, including those in Africa. Personal and purpose-driven factors remain powerful even when economic uncertainty looms.

Building on the resilience of the global travel sector seen last year, the 2025 report highlights how destinations across the African continent are increasingly appealing to tourists and, creating additional opportunities for local markets to develop tourism.

 “Africa is emerging as a global leader in purpose-driven travel, where nature, wellness, and culinary experiences are redefining the continent’s tourism landscape. These trends present a powerful opportunity to drive inclusive growth, support local economies, and position Africa as a key player in the future of global tourism,” said Mark Elliot, division president, Africa, Mastercard.

 Whether drawn by Namibia’s wellness retreats, South Africa’s wilderness experiences or Morocco’s vibrant culinary scene, travelers are expanding their horizons beyond traditional hotspots.

 “Tourism is playing an important role in Africa’s growth story. Travelers are increasingly drawn to the continent’s natural beauty, culinary diversity, and wellness experiences. While economic and geopolitical factors matter, the pursuit of meaningful, purpose-driven travel remains strong. The Mastercard Economics Institute’s report sheds light on how countries are tapping into this trend to attract visitors and boost local economies,” said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute.

By exploring a full range of travel motivations, the report identifies the main themes shaping travel today:

 Africa trends:

• Nature-fueled adventures: South Africa and Zambia dominate cross-border spending around national park areas. Spending around South Africa’s major national parks far outpaced that of other countries, with nearly a quarter of the cross-border spending occurring within these zones. Zambia is also highly ranked as an outdoor adventure destination.
• Culinary crossroads: Marrakech ranks highly on the foodie list with its median restaurant hosting tourists from many different countries, often to enjoy meals of tagine and b’stilla. Cape Town is also on the list, with its bobotie dish proving popular with visitors.
• Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. Namibia, South Africa and Botswana are among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. Kenya is also ranked among the top 20 destinations for wellness In the Mastercard Wellness Index 2025.

 Other global trends:

• Spa, summit and savor: Personal passions and goals motivate travel choices. Adventure-seekers are heading to the Nordics, where Finland’s national parks account for 7.1% of cross-border spending in the country.
• Summer destination draws: The Asia-Pacific region commands the list of trending summer destinations. Flight booking data reveals the top global destinations gaining most momentum for June-September travel, relative to last year. Tokyo is the number one trending spot for summer 2025, followed by Osaka and then Paris.
• Fuelled by fans: Fans travel internationally to see their favorite teams and athletes play. Case in point? During Shohei Ohtani’s World Series debut, spending by Japanese visitors in Los Angeles surged by 91%, six times the broader cross-border boost. 
• Money matters: Despite geopolitical tensions and fluctuating prices, the factors that motivate consumers to travel are often more complex than just economic. But currency depreciation can make certain destinations, like Japan, more attractive due to their better value for money.

• Wheeling and dealing closer to home: In general, business travelers favor longer trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Asia, Europe, the Middle East and Africa.

Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Africa.

You can view the full “Travel Trends 2025: Purpose-driven journeys” and other reports and insights from the Mastercard Economics Institute can be found here.

Nigeria is set to receive telecommunications equipment and fibre optic infrastructure worth $3 billion in June 2025, according to Bosun Tijani, minister of Communications, Innovation and Digital Economy.

Speaking during a panel session at the Nigeria Development Update (NDU) organised by the World Bank, Tijani revealed that the equipment valued at $1 billion was expected to arrive in the country by mid-2025.

He added that an additional $2 billion worth of fibre optic cables would soon be delivered to boost Nigeria’s telecommunications infrastructure.

According to him, the initiative aims to significantly enhance communication services across the country and bridge the connectivity gap.

Tijani also noted that a pilot phase targeting over 20 million Nigerians who currently lack access to any form of telecommunications would soon be launched.

The Nigeria Development Update (NDU) is a bi-annual World Bank report that assesses the country’s recent economic and social developments, policy directions, and provides recommendations to address emerging challenges.