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Home Business & Finance

Google, Microsoft, TikTok Contribute N2.55 Trillion to Nigeria’s Revenue in H1 2024

Nnaemeka OkwarabyNnaemeka Okwara
December 4, 2024
in Business & Finance
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Google, Microsoft, TikTok Contribute N2.55 Trillion to Nigeria’s Revenue in H1 2024
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The National Information Technology Development Agency (NITDA) has announced that major international digital companies, such as Google, Microsoft, and TikTok, paid a total of N2.55 trillion in taxes in Nigeria in the first half of 2024. This substantial contribution to the government’s income is due to these companies following the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries.

NITDA commended Google, Microsoft, X, and TikTok for adhering to the Code, which sets clear rules for enhancing online safety and handling harmful content. The agency also highlighted that this regulatory system has increased the government’s revenue through taxes paid by digital companies.

In addition to tax contributions,  these digital platforms have also taken steps to improve user safety. In 2023, the platform got 4,125,283 complaints from people, which led to the removal of 65.8 million pieces of content. Also, 379,433 pieces of content were put back online after users successfully appealed, and 12.09 million accounts were shut down.

NITDA emphasizes the need to keep working together and finding new ways to address emerging challenges, ensuring a safer and more responsible digital space.

Tags: Businessfederal characterGoogleMicrosoftNewsNigeriarevenueTikTok Contribute N2.55 Trillion to Nigeria's Revenue in H1 2024
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking. Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation. As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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