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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

 

MTN Nigeria, the nation’s largest telecom company, pays over N200 billion in Value Added Tax (VAT) monthly, making it the single biggest contributor to the country’s VAT revenue, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.

Speaking at Channels Television’s Town Hall on Tax Reforms, Oyedele highlighted significant disparities in the current VAT allocation system, revealing that all VAT paid by MTN is credited solely to Lagos State, where the company’s headquarters is located, despite the fact that services generating this revenue are consumed nationwide.

“MTN is the largest contributor to VAT in Nigeria,” Oyedele stated. “They pay over N200bn every month, and the gap between them and the second-largest contributor is massive. However, all this VAT is currently allocated to Lagos, even as calls are made across states like Kano, the FCT, Ekiti, Edo, and Kebbi.”

As part of the ongoing tax reform efforts, the committee has proposed a new framework to ensure equitable distribution of VAT revenues based on consumption rather than the corporate headquarters’ location.

Under the proposed redistribution model, Lagos State, which now retains the full N200bn from MTN, would see its share reduced to around 20 per cent. The remaining revenue would be distributed more fairly among other states where the services are consumed.

“This adjustment ensures states where VAT is generated get their fair share,” Oyedele explained. “While Lagos State’s share decreases slightly, every other state stands to gain under the new system.”

The tax reform bill, designed to address inefficiencies and promote fairness in Nigeria’s fiscal policies, has sparked debate among stakeholders. Critics have accused the committee of advancing policies that may negatively impact certain regions.

Oyedele, however, dismissed these claims, arguing that the current system is flawed and in need of urgent correction. “If something is being done wrongly, how can Lagos State or anyone oppose reforms aimed at fixing it?” he questioned.

The proposed reforms, which include provisions for revenue redistribution and efficiency improvements, are seen as pivotal to ensuring fairness and sustainability in Nigeria’s tax system.

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Femi Oyewale, Simon Kolawole Honoured with TY Buratai Humanity Care Foundation Award of Excellence in Journalism

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Femi Oyewale, Simon Kolawole Honoured with TY Buratai Humanity Care Foundation Award of Excellence in Journalism

 

Gora, Nasarawa State, 1 November 2025 – In a ceremony celebrating literary and journalistic excellence, Mr. Femi Oyewale, Publisher and Editor-in-Chief of Sahara Weekly and President of the National Association of Social and Resourceful Editors (NAOSRE), was conferred with the Award of Excellence in Journalism by the TY Buratai Humanity Care Foundation.

Femi Oyewale, Simon Kolawole Honoured with TY Buratai Humanity Care Foundation Award of Excellence in Journalism

The award was presented during the TY Buratai Literary Initiative Award Ceremony, which also featured the Young 20 Adult Literature Prize (YALP) 2024 Anthology Public Presentation at the newly commissioned Lt Gen OA Ihejirika (Rtd) Hall within the Tukur Buratai Research Center, Gora, Nasarawa State. The hall was officially declared open by Lt Gen OA Ihejirika (Rtd) himself, who also served as the Chairman of the occasion. Unable to attend in person due to international commitments, Mr. Oyewale was ably represented by Dr. Mohammed Sani Abubakar.

Celebrating a Legacy of Integrity and Humanitarianism

The award citation recognized Mr. Oyewale for his exemplary contributions to journalism, transformative leadership, and profound humanitarian service, perfectly aligning with the foundation’s mission: “helping the poor, improving lives.”

A distinguished publisher and visionary leader, Mr. Oyewale’s career trajectory exemplifies dedication and professionalism. Trained under the mentorship of Concord Newspapers, he rose to lead Sahara Weekly, NAOSRE, and the National Association of Online Security Reporters with a steadfast commitment to ethical, balanced, and impactful reporting.

Through the NASRE Media Foundation, he has pioneered initiatives providing financial aid, medical support, and educational scholarships to families of deceased and ailing journalists, creating a safety net for those who dedicate their lives to informing the nation.

General Buratai’s Remarks on the Occasion

In his keynote address, General Tukur Buratai (Rtd) lauded Mr. Oyewale as a “shining example of integrity and social consciousness in Nigerian journalism,” stating:

 

“In a time when the press faces numerous challenges, Femi Oyewale has consistently demonstrated that leadership in journalism is not only about reporting the truth, but also about uplifting those who risk everything to keep the public informed. His humanitarian work mirrors the core values of our foundation – compassion, service, and empowerment.”

 

General Buratai further encouraged media leaders to emulate Mr. Oyewale’s commitment, adding:

“We honour not just a journalist, but a visionary whose work strengthens the pillars of democracy and serves as a beacon of hope for all Nigerians.”

 

Media Houses and Recognition

The award was jointly acknowledged by two leading media institutions: The Cable Newspaper, led by Publisher Simon Kolawole, and Sahara Weekly, under Mr. Oyewale’s stewardship. This dual recognition highlighted the recipient’s leadership and collaborative spirit within Nigeria’s media landscape.

The award citation read:

“For his unwavering dedication to journalistic excellence, his visionary leadership that unites and empowers media professionals, and his profound humanitarian impact that touches countless lives, we celebrate him today. He is not just a master of his craft, but a beacon of hope and a true champion for humanity.”

 

 

A Personal Letter of Commendation

Prior to the ceremony, Mr. Oyewale received a formal letter of commendation from the TY Buratai Humanity Care Foundation, praising his leadership of NAOSRE and Sahara Weekly as a model for ethical journalism:

“Your distinguished career, marked by integrity and a steadfast commitment to the truth, is vividly reflected in your leadership of Sahara Weekly and Sahara TV. Your continued guidance will be defined by the same objectivity, resourcefulness, and unwavering dedication to the public interest that has characterized your work.”

 

The award, presented at the Tukur Buratai Research Centre, marks another milestone in Mr. Oyewale’s ongoing mission to champion ethical journalism and humanitarian service. His recognition today underscores a career dedicated not only to reporting the truth but also to uplifting and supporting those who serve the public through media.

 

About the TY Buratai Humanity Care Foundation

The foundation is committed to humanitarian service, social development, and recognition of excellence, particularly in fields that impact society, including media, education, and literature.

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Despite Hardship, Glo Continues To Make Life Easier For Nigerians By Osho Oluwatosin

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Despite Hardship, Glo Continues To Make Life Easier For Nigerians* By Osho Oluwatosin

Despite Hardship, Glo Continues To Make Life Easier For Nigerians

By Osho Oluwatosin

 

Due to the economic hardship that has affected Nigeria as a country, several sectors, including telecommunications, have had to make necessary reforms and adjustments, especially in terms of tariffs, to reflect the reality of the Nigerian economic situation.

Some players in the sector, like Karl Toriola of MTN, had advocated for a 100% increase in tariffs due to the operational costs his company is enduring as a result of the economic hardship. Others also called for a similar increase, and as expected, the Nigerian Communications Commission (NCC) approved a 50% increase in tariffs in February.

Although several Nigerians complained bitterly due to the fact that several essential commodities are already expensive, in all fairness, an increment was necessary because telecommunication companies also pay high costs for commodities like diesel. If Nigerians continue paying the lower tariffs while operational costs keep increasing, some companies may begin to shut down.

However, if there is any telecommunications giant that has considered the feelings of Nigerians regarding the directives from NCC to increase tariffs, it is Globacom, the only indigenous telecommunications company owned by billionaire Mike Adenuga.

While the likes of MTN implemented a 200% increase and later apologized, Globacom, in its magnanimity and unwavering support for Nigerians, introduced some promos to ease the pain of Nigerians, especially the youth population that makes use of data.

One of the most hardship-alleviating initiatives by the company is the Glo eSIM 5GB free data, which was even extended to customers of other networks. According to the company, customers on other networks can easily use Glo eSIM as an additional SIM card and enjoy 5GB free of charge.

The outlet comes with an introductory free 5GB of data when the customer buys a data plan of N1,500 or more.

Customers already on other networks can now join the Glo network with eSIM as an additional SIM. Existing Glo customers can also enjoy this “SIM-less” freedom.

With the eSIM, customers no longer have to worry about space for a physical SIM on their phones. The eSIM is a software-based digital chip built directly into smartphones or wearable devices, thus eliminating the need for a physical SIM card for customers.

Despite Hardship, Glo Continues To Make Life Easier For Nigerians*
By Osho Oluwatosin

“Globacom is welcoming new customers on its network with the introduction of the eSIM. The eSIM, activated in any Gloworld shop or dealer outlet, comes with an introductory free 5GB of data when the customer buys a data plan of N1,500 or more.

“Customers already on other networks can now join the Glo network with eSIM as an additional SIM. Existing Glo customers can also enjoy this ‘SIM-less’ freedom.
“With the eSIM, customers no longer have to worry about space for a physical SIM on their phones. The eSIM is a software-based digital chip built directly into smartphones or wearable devices, thus eliminating the need for a physical SIM card for customers.”

Likewise, Glo recently announced a 15% bonus on every eTop-up for subscribers; this simply means that for every airtime recharge, customers get 15% added to whatever they bought.

In a press statement issued in Lagos, Globacom said, “In line with our commitment to delivering exceptional value to customers, we have introduced this bonus airtime promotion to help our customers get the most out of their mobile experience. Whether the airtime is used for calls, data, or messaging, this extra boost ensures that customers stay connected with their loved ones and colleagues without interruption. It was introduced to give our esteemed customers unprecedented value for money and a delightful calling experience on the Glo network.”

According to Glo, “The validity of the airtime is 7 days and cannot be rolled over; once the bonus airtime is not used within the validity period, it expires, and the customer forfeits the bonus.”

Furthermore, Glo partnered with establishments like Samsung to ensure Nigerians remain connected to the internet with unprecedented free data. Just recently, the telecommunications giant teamed up with Samsung, the world’s leading manufacturer of electronic devices, to bring a new offer to Glo subscribers. This tantalizing deal allows Glo customers to pre-order the highly sought-after Samsung Galaxy S25 smartphone and enjoy unique benefits.

Globacom is also delighting customers who purchase any model from the Galaxy S25 series with 18GB of bonus data for 6 months under smartphone festival data plans, while they can also secure their pre-order at any Gloworld shop with an advance payment of ₦500,000. Pre-ordered phones will be delivered to customers from February 19 onwards.

Meanwhile, Glo has been engaging in several promos back-to-back for the benefit of Nigerians. Through the Glo Festival of Joy promo, more than 50 Nigerians have won vehicles as luxurious as the Toyota Prado and other home appliances for using the Glo network and recharging regularly.

What about the Glo Lucky Number game? At different times, subscribers have been rewarded with cash prizes ranging from N100,000 to N1,000,000.

All of these and more indicate one thing: Glo is the only indigenous company that cares about the feelings of Nigerians, and these promos are major means through which the populace can be eased from the nationwide economic hardship.

Huge kudos to Globacom.

– Osho Oluwatosin is a journalist and publisher of www.trixxng.com

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Waste for Gas – GTCO Plc Launches Initiative to Improve Quality of Life for Households and Empower Women

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Waste for Gas – GTCO Plc Launches Initiative to Improve Quality of Life for Households and Empower Women

 

 

Guaranty Trust Holding Company Plc (GTCO), a leading financial services institution renowned for its innovative approach to corporate social responsibility (CSR) and stakeholder engagement, today announced the launch of its “Waste for Gas” project to improve quality of life for households and empower women in underserved communities. This transformative initiative aims to distribute 3,000 3kg gas cylinders with burners to low-income households in Obafemi Owode Local Government, Mowe, Ogun State.

 

 

The Waste for Gas project underscores GTCO’s unwavering commitment to improving outcomes for people and communities. By providing households with gas-powered cooking, the initiative simplifies daily routines, freeing up time for essential activities that support financial resilience. The initiative also introduces a structured “waste for gas” exchange programme that promotes responsible waste management, fostering a culture of sustainability.
The project will unfold in two key phases, ensuring that it reaches those most in need. In the first phase, teams from GTCO, in collaboration with local government representatives, will conduct door-to-door visits across 12 wards in Obafemi Owode Local Government from Monday to Friday, February 18th – 21st, 2025.

 

 

These visits will help identify beneficiaries who currently rely on firewood and charcoal for cooking. Participating households will collect and return plastic waste in exchange for gas cylinders and burners. In the second phase, scheduled for Saturday and Sunday, February 22nd and 23rd, 2025, efforts will be shifted to monitoring and increasing adoption of the new cooking method among the beneficiaries.
Speaking on the initiative, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, stated: “At GTCO, we are committed to driving progress, not just through innovative financial solutions but by creating real impact in the communities where we operate. Waste for Gas is about making life easier for families, giving them more time for what truly matters—whether it’s education, meaningful work, or personal development. Beyond this initiative, our goal is to continually evolve sustainable platforms that empower people, strengthen communities, and contribute to socioeconomic progress.”

 

 

As GTCO continues to expand its CSR footprint, the Waste for Gas project serves as a blueprint for future interventions that drive meaningful, long-lasting impact in underserved communities.

 

About GTCO Plc
Guaranty Trust Holding Company Plc (GTCO) is a leading financial services institution headquartered in Lagos, Nigeria, with operations across 10 countries in Africa and the United Kingdom. GTCO Plc transitioned from a pure-play commercial bank—licensed since 1990—to a fully-fledged financial services company in April 2021 under a non-operating financial holding company structure, with shares listed on both the Nigerian Exchange (NGX) and the London Stock Exchange (LSE). The operating entities within GTCO’s robust financial ecosystem include Guaranty Trust Bank Limited (GTBank), Guaranty Trust Fund Managers Limited (GTFM), Guaranty Trust Pension Managers Limited (GTPM), and HabariPay Limited (Habari).

 

As a “Proudly African and Truly International” Institution, GTCO has been at the forefront of enriching lives and promoting enterprise across the African continent through its transformative platforms and differentiated offerings.

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