Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy, revealed that his committee has recommended that the Nigerian Government eliminate taxes on essential items like food, public transportation, and housing rents.
Oyedele shared this during an appearance on Channels Television’s Politics Today program on Monday.
He explained that the proposal also suggests exempting these necessities from value-added tax (VAT).
The proposal is expected to be signed by President Tinubu soon and then forwarded to the National Assembly for inclusion in Nigeria’s tax laws.
“We’ve considered the necessities of life—food, accommodation, transportation, education, and health,” Oyedele said. “We’ve deliberately identified these items and removed almost all the taxes applicable to them, including VAT.”
He continued, “From a fiscal policy and tax perspective, we believe this will make it more affordable for Nigerians to access these necessities. For example, share-passenger transportation will be completely tax-free.”
However, he clarified that, “If you hire a taxi, it’s assumed you’re not among the poorest Nigerians, so you’ll still pay the tax. But if you take a bus, that will be completely tax-free. That’s the approach we’ve taken so far.”
