Nigeria's President Bola Tinubu has ordered the suspension of a newly introduced 10% tax on single-use plastics and excise duty on some locally manufactured products to reduce business costs in Africa's biggest economy, his spokesman said on Thursday.
Nigeria is one of the biggest plastic polluters on the continent, contributing some 2.5 million tonnes of plastic waste annually, some of which ends up in the sea, official data shows.
Dele Alake said Tinubu signed executive orders suspending a green tax on single-use plastics, including plastic containers and bottles, that was introduced in March.
The orders also suspended implementation of a 5% telecoms tax first mooted by the previous government and stopped an increase in car import duty and excise duty on selected goods manufactured locally.
"As a listening leader, the president issued these orders to ameliorate the negative impacts of the tax adjustments on businesses and chokehold on households across affected sectors," Alake told reporters.
Tinubu, who took office in May, has embarked on Nigeria's boldest reform agenda in decades, including the removal of a popular petrol subsidy and restrictions on foreign exchange trading, as he seeks to boost sluggish growth.
There would be no further tax rises without wider consultations, Alake said, adding that Tinubu would pursue business-friendly policies.
Latest Stories
-
2024/25 Ghana League: Bechem United shock Chelsea in Berekum
57 mins -
GPL 2024/25: Nations FC beat Asante Kotoko to go top
57 mins -
GPL 2024/2025: Gold Stars drop to 2nd after 2-0 defeat to Medeama
1 hour -
#GPL 2024/25: Hearts pip Karela in Tamale to move into top 4
1 hour -
Feedback from Klopp, others more valuable than just anybody – Otto Addo to critics
2 hours -
Support us if you want to qualify for the World Cup – Otto Addo to Ghanaians
2 hours -
Defective ballot papers for Ahafo and Volta Regions destroyed by EC
2 hours -
Election 2024: Be fair and transparent – Togbe Afede to EC
2 hours -
AFCON 2025Q: Poor home form cost us – Otto Addo
2 hours -
Togbe Afede criticises recent Supreme Court rulings as uninspiring and illogical
2 hours -
GPL 2024/2025: Accra Lions remain bottom after draw against Kpando
2 hours -
NDC condemns Dela Edem’s ‘unsavoury and distasteful’ comments about kufuor; issues public apology
2 hours -
‘Let them burn the sea; don’t return if Parliament is recalled’ – Asiedu Nketiah to NDC MPs
3 hours -
Bawumia’s commitment to excellence will ensure Ghana fulfills its potentials – Prof. Etse Sikanku
3 hours -
Ensign Global College marks 10th anniversary with 9th congregation
3 hours