Signs Four Executive Orders
President Bola Tinubu has approved the suspension of five percent Excise Tax on telecommunication services in Nigeria.
He has also approved the suspension of Excise Duties escalation on locally manufactured products in the country.
Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake disclosed this during a press conference with State House Correspondents.
Alake told Journalists that these were parts of four Executive Orders signed by the President.
He said the decision was taken to reduce the suffering of Nigerians especially in the area of multiple taxation as well as creating a more friendly environment for both local and foreign businessmen.
Tinubu also ordered the suspension of the newly introduced Green Tax by way of Excise Tax on Single-Use Plastics, including plastic containers and bottles as well as the suspension of Import Tax Adjustment levy on certain vehicles. Here’s Dele Alake again.
Other Presidential Advisers at the briefing also said the President assured Nigerians that there will not be further tax raise without robust and wide consultations undertaken within the context of a coherent fiscal policy framework.
This is Zachaeus Adedeji, Special Adviser on Revenue
And this is Dr. Doris Uzoka-Anite, Member Policy Advisory Council On National Economy, Presidential Strategy Team.
Adenike Laoye is SSA On Finance.
In a bid to address concerns raised by manufacturers and other stakeholders regarding recent tax changes, President Tinubu’ had now signed four Executive Orders one of which is the suspension of the 5% Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.