How I am making life meaningful for Nigerians – Tinubu
Nigerian leader, Bola Tinubu, in his mid-term assessment report, said that “essential goods and services such as food, education, and healthcare will now attract 0% VAT”. He also stated that “rent, public transportation, and renewable energy will be fully exempted from VAT to reduce household costs further.”
TheCornet News reports that President Tinubu’s had introduced four tax reform bills, which are expected to be passed into law soon.
On tax incentives, President Tinubu said his administration is ditching “wasteful and opaque tax waivers” for “targeted and transparent incentives” to support “high-impact manufacturing, technology, and agriculture sectors.”
“These reforms are not just about revenue but about stimulating inclusive economic growth,” he said. He also mentioned that the reforms would create “a friendlier tax environment” to “empower” for youths in the digital and remote workspace.
“Most importantly, we are laying the foundation for a more sustainable future by introducing a new national fiscal policy.
“These reforms are designed to reduce the cost of living, promote economic justice, and build a business-friendly economy that attracts investment and supports every Nigerian,” he said.
In the health sector, Tinubu said the administration has revamped over 1,000 Primary Health Centres while upgrading another 5,500 PHCs “under our Renewed Hope Health Agenda.” Other health interventions, the President mentioned, are “six new cancer treatment centres” recently established to “offer free dialysis services in pilot tertiary hospitals” at subsidized cost.
He added that “over 4,000 women have undergone free cesarean sections”, under the Presidential Maternal Health Initiative, while the number of Nigerians covered under the Health Insurance Coverage has increased “from 16 million to 20 million within two years.”
