The Minister of Communications and Digital Economy, Dr. Isa Pantami, on Thursday, said that the Nigeria Postal Service (NIPOST) has retrieved the collection of stamp duty charges from the Federal Inland Revenue Service (FIRS).
Pantami made this known at the launch of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps held in Abuja.
The minister commended President Muhammadu Buhari, and the leadership of the National Assembly, especially the Senate and House Committees on Communications and Digital Economy for their interventions on the matter.
NIPOST and the FIRS had been embroiled in a dispute since 2019 over which agency should collect stamp duty on behalf of the Federal Government.
While the FIRS said that it had the mandate to collect taxes, duties, and fees, including stamp duty, imposed by the Federal Government, NIPOST argued it had the statutory powers to print, mint, produce, retail, and provide adhesive postage stamp for the use of Nigerians.
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The postal agency said it had been empowered to collect stamp duty and it would not give up its rights.
The Finance Act 2019 contained an amendment to the Stamp Duty Act, which conferred on FIRS the exclusive right to collect stamp duty on behalf of the Federal Government.
Nigerian Postal Service had complained that the Finance Act was negatively affecting its finances as stamp duty formed a significant part of its earnings.
Meanwhile, Pantami also praised the management of NIPOST and other stakeholders for their resilience, saying it was heartwarming that critical stakeholders ensured that justice was done on the issue.
“Our efforts regarding the issue of stamp duty collection with other government Institutions have yielded positive results,” he said.
NIPOST has been recognised as a government agency with statutory and historical authority to be the producer of stamps and recognised for collection of stamp duties for validation of financial transactions in the country.
“We appreciate Mr. President for listening to our complaints, and we extend our gratitude to him and the Senate and House Committees for their intervention in ensuring that justice was done,” Pantami said.
The minister said challenges of regulation, policy, and financing confronting NIPOST over the years are being addressed to enable the agency to generate revenue for the Federal Government.
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He emphasised that the NIPOST would be unbundled into three companies to boost its operations, while efforts ongoing for the Federal Executive Council to approve the renovation and rehabilitation of all its dilapidated offices across the country.
The minister noted that 97 percent of the rule-making procedures of NIPOST are being done to facilitate robust debates on the Acts establishing the agency.
