Audio By Carbonatix
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
-
Ghana opens continental AI hackathon as Accra positions itself at the centre of Africa’s push from AI ambition to execution
2 minutes -
Health Ministry dismisses claims of ARV shortage, says medicines available at designated facilities
14 minutes -
Transport fares rise on some routes despite suspension of planned 30% increase
22 minutes -
NAIMOS intensifies galamsey crackdown, arrests 40 and seizes mining equipment across six regions
29 minutes -
Clean Energy Chamber convenes EV Working Group to advance import duty reforms
36 minutes -
CIB Ghana, BoG reaffirm commitment to ethics, professionalism in banking
41 minutes -
Democracy Cup: Speaker Bagbin receives 2026 trophy, unveils major Sunderland initiative
42 minutes -
SSNIT eyes more financial investments to boost returns as total assets grow to GHS36bn
50 minutes -
EC to review CI 127, introduce dedicated portal for election results
57 minutes -
Ho Assembly destroys expired food products seized from warehouses
1 hour -
Over 1,000 NDC women petition A-G for Sedina’s release, Volta youth group backs call
1 hour -
Most White Volta residents evacuated ahead of Bagre Dam spillage — NADMO
1 hour -
La Nkwantanang-Madina MCE orders probe into alleged chemical ripening of fruits
1 hour -
EOCO must name all persons linked to Berko bribery scheme — NPP communicator
1 hour -
Prophet Emmanuel Adjei leads powerful prophetic encounters at ‘Born to Prophesy 2026’
2 hours