Government imposed a one per cent Profit Before Tax on companies engaged in Information Technology (ICT), telecommunications and other business establishments that rely heavily on ICT infrastructure.
The Director General of the NITDA, Professor Cleopas Angaye said the fund had effectively aided the agency in its bid to promote IT in the country, stressing that the fund had been judiciously expended over the years.
Angaye said the NITDA had set aside sums for the establishment of Solar Power IT centers in over 100 communities, each costing over 30 million.
Part of the fund, Prof. Angaye maintained had also been spent on building ICT centers in Nigerian tertiary institutions and also in the setting up of e-learning centres in a number of secondary schools where students meet to share ideas with their counterparts across the globe.
The agency, he further added, embarked on a ‘Public Service IT Network Scheme’.
He commended the Federal Government for the establishment of a sustainable Information Technology development fund (ITF), which he said would facilitate and fast-track the growth of ICT in the country.
Finaly, Professor Angaye insisted that NITDA had lived up to its statutory mandate as stipulated in NITDA Act, 2007, explaining that the agency had been effectively coordinating, regulating and monitoring IT operations in the country.