FG To Eliminate Taxes On Food, Housing, And Other Essential Items

In a recent interview with Channels Television, Oyedele detailed that the proposal includes exempting these necessities from value-added tax (VAT).

“We’ve carefully considered the essential aspects of life—food, accommodation, transportation, education, and health. We’ve identified these items specifically and proposed removing almost all taxes on them, including VAT. The aim is to make these necessities more affordable for Nigerians. Public transportation for shared passengers will be entirely tax-free. However, taxes will still apply to taxis, under the assumption that those using them are less likely to be among the poorest. In contrast, bus travel will be fully tax-exempt,” he explained.

Oyedele added that this proposal will soon be presented to President Tinubu for approval before being forwarded to the National Assembly to be incorporated into Nigeria’s tax legislation.