Despite this, IT has been at a low ebb even with the establishment of the National Information Technology Development Agency in 2001.
Investigations by our correspondent showed that the money was accumulated through the National Information Technology Development Fund Levy, which was introduced by the Federal Government through the NITDA Act that was passed into law in May 2007.
Statistics obtained from the Federal Inland Revenue Service, which has the authority to collect the levy and other taxes on behalf of the government, showed that the IT levy yielded N2.5bn in 2008 and N6.8bn in 2009. Between January and August, 2010, a total of N5bn was collected.
According to the NITDA Act, operators in specified sectors of the economy, including banks, digital mobile operators and oil and gas operators, whose incomes hit the N100m mark, are to pay one per cent of their profits before tax for information technology development.
Read more: http://www.punchng.com/Articl.aspx?theartic=Art201011023524665
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