Taiwo Oyedele, the chairman of the presidential committee on fiscal policy, has said that the committee has put forth a recommendation to the FG to eliminate taxes on essential items such as food, public transportation, housing costs, and other necessities vital for the well-being of Nigerians.
He said, “What we have taken into account is what are those basic necessities of life—food, accommodations, transportation, education and health. We’ve deliberately identified those items. And we’ve removed almost all the taxes applicable to them, including no VAT.
“We think that from the fiscal policy and tax perspective, we can make it more affordable for the Nigerian people to be able to afford those basic necessities. Share-passenger transportation is completely tax-free.
“However, if you hire a taxi, we assume that you’re not the poorest Nigerian so you have to pay the tax. Whereas if you get into a bus, that will be completely tax-free. That’s what we’ve done so far.”
