• April 18, 2024

Nigeria Suspends Taxes on Tobacco

 Nigeria Suspends Taxes on Tobacco
Image: Tobacco Reporter archive

Nigeria’s president, Bola Tinubu, has suspended excise taxes on some locally produced goods, including tobacco, and telecommunications services that were introduced two months ago, reports Bloomberg.

Tinubu signed the executive orders to “address business unfriendly fiscal policy measures and multiplicity of taxes,” according to his spokesman, Dele Alake.

The order includes certain imported vehicles, single-use plastic products and domestically manufactured alcoholic drinks and tobacco. The excise taxes were introduced by Muhammadu Buhari in his last weeks in office.

Tinubu “promised to run a government that will not make life difficult for Nigerians or asphyxiate corporate entities,” Alake said.