Nigerian President, Bola Tinubu, has ordered the immediate suspension of Import Tax Adjustment levy on certain vehicles on Thursday, 6th July, 2023.
The Presidential spokesman, Dele Alake, disclosed that the president gave the order in order to address business unfriendly fiscal policy measures and multiplicity of taxes.
According to Alake, the suspension of the extra levies on some imported vehicles is part of the presidential interventions to address key concerns of manufacturers and other stakeholders regarding some recent tax changes, stating that the president will not exacerbate the plight of Nigerians.
Alake explained that the Federal government sees business owners, local and foreign investors as critical engines in its focus on achieving higher GDP growth and appreciable reduction in unemployment rate through job creation.
Story: Hilda Katu