Foreign digital companies operating in Nigeria, including interactive computer service platforms and social media platforms, paid taxes totalling more than $1.5 billion in the first half of 2024.

This is according to figures from the Federal Inland Revenue Service and the National Bureau of Statistics.

The National Information Technology Development Agency (NITDA) applauded the move, stating that the considerable rise in taxes demonstrates the importance of strong regulatory frameworks in influencing compliance and generating revenue development in the digital economy.

The NITDA's role is to develop, regulate, and advise on Nigeria's information technology sector via regulatory standards, guidelines, and policies.

Earlier this week, NITDA commended Google, X, Microsoft, and TikTok for adhering to the interactive computer service platforms/internet intermediaries code of conduct.

The Code, produced jointly by the Nigerian Communications Commission, National Broadcasting Commission, and NITDA, provides rules for improving online safety and regulating dangerous content.

While applauding the progress made by the companies, NITDA emphasised the importance of continuous cooperation and innovation in addressing future challenges and ensuring a safer and more responsible digital landscape.

The agency stated that it is committed to collaborating with stakeholders to promote and improve user safety measures, digital literacy, trust, and transparency.

The 2023 compliance report provides essential information about the platforms' efforts to address user safety concerns in accordance with the Code of Practice and community guidelines.